Analyst Report:
Best Practices in Implementing IT Financial Management Tools

Tools focused on IT chargebacks, especially those associated with mainframe allocations, have been around for decades. However, in the past few years, toolsets have appeared that not only facilitate cost recovery, but also enable more effective end-to-end management of IT spending. Most of today's IT financial management (ITFM) tools are designed to serve as a repository for cost information from various sources across the enterprise.

Key Findings

• Effective ITFM requires IT organizations to view IT financial data for a variety of purposes, ranging from traditional budgeting and forecasting, chargebacks and service costing to portfolio management and benchmarking.
• ITFM tools have evolved during the past several years and can now manage multiple views of IT cost information.
• The key to successfully using an ITFM tool is always in the underlying business processes and the quality of the supporting data.
• It is essential to develop an ITFM road map or multiyear plan (with senior management buy-in) that outlines current and future ITFM capabilities.

Register now to download a complimentary copy of this Gartner report.