Informed decision-making is the core objective of IT Financial Management, and the key to delivering value. But it’s easier said than done. IT leadership must reframe their relationship with the business in two crucial ways:
- Extend capabilities to analyze and report costs
- Translate insights into a common language the business understands
This session is for ITFM practitioners and leaders interested in either… 1) building accurate IT cost models for the first time, or 2) refining and improving existing cost models. Attendees will receive a thorough explanation of current best practices from the ground up, including:
- Establishing cost models and defining their value
- Capturing direct and indirect costs
- Indirect cost cross-allocation
- Iterating models to improve quality and accuracy
- Avoiding “precision traps” (simplicity vs. complexity)
- Introducing and defending new models
Everyone wants cost transparency. But once you have it, what's the next step? That crucial question is where organizations struggle most.
Cost transparency by itself does not equal value; it's IT Finance's responsibility to take transparency and use it to produce insight... and that's what unlocks value.
This session offers guidance on distilling "raw" cost transparency into meaningful insights that drive tangible value for stakeholders.
Inside, you'll learn how to...
- Translate IT Finance insights into a common "business language" everyone can understand
- Understand the 5 core stakeholder audiences of IT Finance and what they care about most
- Tailor insight delivery, based on stakeholder audiences, for maximum value
Mature IT Finance operations have a huge appetite for data. But feeding that appetite isn't always easy. Accuracy and completeness are ongoing struggles, and required data often requires complex configurations between several sources. But even after corralling the data you need, using it to achieve meaningful transparency for billing and cost optimization can still be difficult.
This session is intended to help you overcome tough data collection challenges, as well as the next set of challenges that come with using that data throughout your IT Finance processes.
Inside, you'll learn how to...
- Understand and leverage common data sources and collection methods
- Address missing or inaccurate data
- Automate data collection for your IT Finance organization (and the crucial steps to take beforehand)
- Tackle the most common data-related obstacles to showback or chargeback
Putting a showback or chargeback system in place may feel intimidating, but it doesn’t have to be. This presentation breaks down the core steps to success, common pitfalls, and the keys to keeping consumers satisfied.
You'll walk away with actionable steps to...
- Educate and enable informed decision-making: Use transparency and shared accountability to help consumers fully understand usage and cost, plus what can be done to effect change.
- Manage complexity and leverage automation: Resolve setbacks like bill confusion and manual data collection, while taking advantage of automated processes.
- Promote continuous improvement: Form a clear communication strategy, as well as a roadmap for success beyond initial implementation.
Thank you for attending the Nicus ITFM Bootcamp! For your convenience, we've packaged the course materials for download on this page. Here's a brief summary of what you'll receive:
- Complete, unedited slide decks from the live 2-day event
- 5 takeaway exercise examples with source data
- A detailed answer key with step-by-step solutions
In this panel discussion, ITFM experts from various industries will share their expertise on how to get beyond defending the bill, enabling customers of IT to understand spend and value, and changing the conversation and relationship between IT and the business.
Moderator: Amy Robertson, Director of Marketing, Nicus Software
Jennifer Garcia, IT Financial Advisor, American Family Insurance
Rob Mischianti, Chief Evangelist, Nicus Software
Alonso Martinez, Senior IT Expense Analyst, American National Insurance
Velincia Jones, Technology Business Operations, VISA
Kendra Coates, Finance Director, Office of Information Technology State of Maine
This webinar is now available on-demand!
Fundamentals to know before building your first service cost model
Every ITFM practice’s maturity and success depends on an effective service cost model. The reason is simple: without a way to quantify IT services, it’s impossible to optimize costs, deliver insight, and “run IT as a business.” Cost modeling lets you do all those things and more.
If you’re ready to explore everything a cost model can offer your organization – and how you should go about building one for the first time – this eBook will lead the way.
- Articulate and demonstrate IT finance's value
- Define and measure your progress and success
- Build the ideal IT finance team
- Drive cost transparency and optimization
- Enable better decision-making across all stakeholder groups
- Become a trusted partner to the business