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What’s The Value?

Jan 26, 2018 | By Randy Foley

Much like patrons of Super Bowl LII will react to prices at the concession stand, most of us frequently look at our monthly, household bills and think, “Why am I paying so much for that?”  When we receive our credit card statements or utilities and cell phone bills, we expect them to be accurate, understandable, and reasonable. We also would like to know what the prior charges were and what we can expect to pay in the future. These comparisons help us evaluate whether we are getting good value from the services or not.

Similarly, enterprises expect to know what value IT is delivering to the business/organization. This can only be determined by having transparency into the detailed costs of IT. As with the personal bills, we want to know what we’re paying for, are costs increasing/decreasing, and what are future costs? Delivering these details in Excel can often be cumbersome, time-consuming, and incomprehensible. The best way to overcome this problem is automating the collection, allocation, and reporting of data in an IT financial or business management tool like Nicus M-PWR. M-PWR aggregates and consolidates cost-related data from a variety of sources and identifies enterprise linkages to cost information in a complex IT environment. The analytics delivered support strategic IT decision making, financial planning, budget justification, chargeback/showback, and performance analytics, with strong benchmarking and measurement capabilities. Armed with this information, IT leaders can then communicate not only IT costs of services, but also IT service value to the enterprise.

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