If you are not getting what you expect and need out of your IT Financial Management software, you are not alone! Many companies struggle to get past the initial software setup to truly understand the data the software delivers and to then effectively articulate the value of IT investments to stakeholders.
Prior to engaging Proven IT Finance, our client was leveraging a manual Excel sheet to forecast and budget IT.
Not only was this a time-consuming and complex process; it limited visibility in the relationship between their IT operations, services and costs across all environments in a growing cloud infrastructure.
Proven IT Finance stepped in to develop a comprehensive model to better manage the supply/demand equation.
With a recently developed chargeback process using ITFM software, a Fortune 500 company needed to design custom stakeholder reports to effectively communicate financial data, context and insights to enterprise leaders.
These reports needed to be consistent, but also needed to be customized based on the stakeholder level. The business needed to aggregate very detailed information at the appropriate level, and incorporate a consistent storyline of IT.
Prior to our work, an inconsistent approach for reporting was being delivered by different groups leveraging different financial information, storylines and frameworks.
A Fortune 500 company enlisted our services after uncovering a failure during an internal financial audit.
In short, a lack of transparency between “run” and “build” funding were driving misunderstandings of what funds were available within IT. As a result, investment funds were mistakenly being used to manage “run” activities. Due to the lack of transparency in IT financials, this issue went under the radar for quite some time.
The IT leader reached out to Proven IT Finance to resolve the audit issue and to help the business evolve their ITFM capabilities.
A Fortune 500 company in the public sector desired a more systemic way to manage IT chargeback throughout the enterprise.
Prior to our work, the company was relying on Microsoft Excel and a web of interdependent spreadsheets to identify or estimate how business segments should be charged for their consumption of IT. Traditionally, this was a showback model rather than a chargeback. Wanting to evolve, the business purchased an ITFM software solution but was struggling to get what they needed from the software.
To maximize their investment in the software and mature their ITFM capability, the business needed assistance in creating and implementing a cost model within the tool to facilitate a new chargeback solution. They came to us for a solution.