IT Financial Management
Align IT spending with business objectives and achieve greater financial visibility.
What is IT Financial Management (ITFM)?
IT financial management (ITFM) is a framework that consists of the processes and tools necessary to provide IT leaders with the key capabilities to effectively account for, manage, and analyze IT costs and communicate their value to the business. ITFM enables IT leaders to understand their IT costs and align their investments with business priorities to maximize value. ITFM involves analyzing, planning, and controlling the costs associated with IT operations, projects, and services, and ensuring that IT spending is transparent, accountable, and optimized for efficiency.
Effective ITFM involves establishing financial governance, creating and maintaining a comprehensive IT budget, tracking expenses, and performing cost-benefit analyses of IT investments. By implementing ITFM practices, organizations can gain greater visibility into their IT spending and make more informed decisions regarding budget allocation and investment. This can lead to cost savings, better business outcomes, and improved IT performance, while also promoting transparency and accountability across the organization.
ITFM's Value for Stakeholders
Proper implementation of the ITFM process will help multiple groups across the organization drive better decisions and collaboration around IT spend.
Analyze and plan IT spend faster with insights and action plans that surface optimization opportunities and drive spend accountability.
Reduce risk to the business and ensure the highest return on investment from your technology spend.
Demonstrate IT financial stewardship to the business by driving a continuous spend optimization process.
“It's difficult to be business-aligned if you're not able to show how IT spend and IT costs are aligning with business priorities. My team and I wouldn't have been able to do that without the transparency that Apptio provides.”
Apptio IT Financial Management Products
Make cloud your competitive advantage
Visibility and financial accountability for cloud costs
Manage and master your tech costs
A clear view into technology investments and their impact