White Paper by Pamela Erskine, Director Of Consulting, Third Sky

When it comes to managing the financial aspects of IT every organization is unique. While there are common characteristics, there are varying levels of maturity and effectiveness in processes, and every organization has its own personality and perspective on the value and effectiveness of IT. These factors often translate into how financial management practices are conducted in IT.

Mature FMITS enables:

• Service Portfolio Management work, by associating costs and values to IT services
• Informed, agile decision –making by the business and IT
• Reduced risk, as IT investments are directed toward high value services
• Control over the IT spend, as costs and cost saving opportunities are illuminated
• Financial compliance and control
• Strategic partnering with the business, by providing the basis for financially sound business decision-making on the IT investment