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Financial Management for IT

Financial management is no longer an afterthought in IT.
Most IT shops do not make full use of the financial tools and techniques available, leading to difficult conversations with CFOs. Unfortunately, most IT organizations manage their financial planning, management and control using an assortment of "silo-specific" solutions, usually a collection of spreadsheets tied to different tools. This approach cannot convincingly and consistently defend the connection between business value and IT spending. Without the tools to clearly link IT investment to creating organizational value, the IT group is viewed by senior management as a cost center that costs too much.
Information Technology is central to the ongoing success and financial health of every large organization. Competitive environments are changing faster than most companies' IT can respond. IT managers must even justify investments to "just keep the lights on", while driving down IT costs to the business—without endangering long-term IT capabilities. Although new technologies, such as SOA (Service Oriented Architecture), may improve agility, IT managers must trade off support now against cost reduction tomorrow and new business functionality the day after.
“I've never seen a better IT investment presentation. First, they asked for my standard financial evaluations templates and asked
some pertinent questions about how the company made financial decisions. At the next meeting, they presented the funding proposal
completely in business and financial terms using all my own templates. They had even created a sensitivity/risk analysis and project cash
flow that compared technical alternatives along with suggested financial measures of success…”
CFO of an Investment Management Firm

To run IT as a business, IT must put in place the necessary tools and processes.

Our consultants understand the tools of financial as well as IT management. We can help you demonstrate to your managers the connection between IT investment and business value.

We have specific experience in all areas of IT financial management, including:

IT must go beyond reacting to and managing technical demands - IT must show in financial terms how it can enable value.

The goal: to fasten IT Business Service Management to a sound financial foundation that can enable an understanding between IT, business line management, the CFO and executive management about how to create and sustain real business value by: