In this new article we look at four key areas where understanding TCO is crucial to IT decision-making, and how teams can get this information in the ServiceNow applications they’re already using.
The newest addition to the FMDB family is available now in the ServiceNow App Store.
Technology is no longer just an operational expense—it’s a business driver. CFOs who take an active role in IT financial management can enhance profitability, optimize resources, and enable digital transformation. By gaining full visibility into IT spending, you can ensure every technology dollar supports business growth, operational efficiency, and innovation.
CFOs who embrace ITFM don’t just manage costs—they drive strategy, innovation, and business success. By leveraging financial insights into IT, you can transform your organization’s approach to technology, ensuring every dollar spent fuels growth, efficiency, and competitive advantage.
Lack of transparency into IT costs can lead to inefficiencies and misaligned investments. IT Financial Management (ITFM) provides clear insights into IT spending, helping CFOs:
ITFM allows CFOs to move beyond cost-cutting and take a strategic approach to IT spending. With the right insights, you can:
Technology should enable—not hinder—business success. CFOs must ensure IT resources are allocated where they will have the greatest impact. ITFM helps you:
Finance and IT must work together to drive digital transformation while maintaining financial discipline. ITFM fosters collaboration by:
Read Blog: Why ITFM is the Key to CFO-CIO Alignment
Dan Strang, IT Financial Services Manager, American Family Insurance
Establish accurate, fully-burdened cost structures for everything IT delivers – allowing technology leaders to eliminate doubt, rationalize spend, and expose opportunity.
Build detailed IT budgets and forecasts quickly and accurately. See how and why today’s funds are being spent, and how tomorrow’s investments can drive new value.
FMDB provides a centralized, single source of truth for financial data in ServiceNow that can be leveraged across ServiceNow applications.
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