Economic uncertainty continues to accelerate the need for IT spend transparency, cost controls, and more-robust budgeting and forecasting capabilities. IT financial management tools can help CIOs enhance ITFM disciplines with more-robust data handling, cost modeling, allocation logic and reporting.
An ITFM tool improves transparency into IT spend and simplifies complex budgeting and forecasting requirements.
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CIOs who desire to improve transparency into IT spend and to simplify complex budgeting and forecasting requirements should:
- Determine the need for an ITFM tool by considering the complexity of cost-modeling needs, allocation requirements and reporting frequency.
- Identify the primary mandate for an ITFM program by first identifying the primary stakeholders’ needs, objectives, timing and alignment to the tool’s capabilities.
Gartner, Market Guide for IT Financial Management Tools, Robert Naegle, 20 November 2023 GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.
