Tom Schröder gives a brief overview over the intricacies of Technology Business Management/IT Financial Management
Learn how the anafee Software Solutions Suite can be deployed to properly address the challenges of IT Financial Management.
The Importance of IT Financial Management
If you want to successfully run a business, and of course you do, it is vital to address the three key challenges of IT Financial Management:
- Justification of expenses to customers and business executives alike
- Optimization of service costs as well as understanding key service cost components
- Providing proper transfer pricing documentation in the interest of tax compliance
IT Financial Management (or Technology Business Management) responds to these challenges by helping to manage the technology and expenditures of businesses. Its aim is to provide both IT organizations and businesses with a common platform to measure their services. That way they can better plan for future investments. Ultimately, this will improve IT services as well as the advancement of business performance.
What is The Role of anafee in IT Financial Management?
anafee is a software solution suite that essentially allows for the automation of the IT Financial Management process. The way this process operates is threefold:
- Businesses can analyze their costs and demands to make immediate cost reductions.
- They are provided with scenario-based planning and budgeting. This will facilitate the decision-making process related to the allocation of the IT budget.
- Business customers are presented with complete transparency through anafee’s charging and invoicing process. As a result, they are granted control over their service consumption as well as allowing for planning, forecasting, and adjusting of consumption behavior.
anafee’s software solution suite ultimately bestows key advantages on all stakeholders of the IT Financial Management process:
- Service suppliers are aware of unit costs, can better plan and distribute their budget, and offer transparency to their customers
- CFOs can make immediate cost reductions where necessary, lower controlling efforts on the IT department, and stay compliant with tax laws via proper transfer pricing documentation
- Business customers and service consumers are given more control and transparency regarding their service consumption. Consequently, this allows for improvements in planning future IT service deployment
For further information on anafee and how to properly implement IT Financial Management into your business processes, download our comprehensive white paper on the matter: