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Financial Management

Financial Management. Information Technology Infrastructure Library - Financial management for IT services.

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Financial Management

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  1. Financial Management https://store.theartofservice.com/the-financial-management-toolkit.html

  2. Information Technology Infrastructure Library - Financial management for IT services • IT Financial Management comprises the discipline of ensuring that the IT infrastructure is obtained at the most effective price (which does not necessarily mean cheapest) and calculating the cost of providing IT services so that an organization can understand the costs of its IT services. These costs may then be recovered from the customer of the service. This is the 2nd component of service delivery process. https://store.theartofservice.com/the-financial-management-toolkit.html

  3. Project portfolio management - Financial Management • With PPM, the Office of Finance can improve their accuracy for estimating and managing the financial resources of a project or group of projects. In addition, the value of projects can be demonstrated in relation to the strategic objectives and priorities of the organization through financial controls and to assess progress through earned value and other project financial techniques. https://store.theartofservice.com/the-financial-management-toolkit.html

  4. USAID - Contracting, financial management, and facilities offices • While the Mission Director is the public face and key decision-maker for an impressive array of USAID technical capabilities, arguably the offices that make USAID preeminent among U.S. government agencies in the ability to concretely follow through on assistance agreements are the missions' support offices. https://store.theartofservice.com/the-financial-management-toolkit.html

  5. USAID - Financial management offices • Funds can be committed only when the Mission's Controller certifies their availability for the stated purpose. FM offices assist technical offices in financial analysis and in developing detailed budgets for inputs needed by projects assisted. They evaluate potential recipients' management abilities before financial assistance can be authorized and then review implementers' expenditure reports with great care. This office often has the largest number of staff of any office in the mission. https://store.theartofservice.com/the-financial-management-toolkit.html

  6. Financial management for IT services • 'Financial Management for IT Services' is an element of the Information Technology Infrastructure Library|ITIL best practice framework https://store.theartofservice.com/the-financial-management-toolkit.html

  7. Financial management for IT services - Goal • The goal of Financial Management for IT Services (ITFM) is to optimize the cost of IT Services while taking into account quality and risk factors. Analysis of cost against quality and risk is used to create intelligent, metric-based cost optimization strategies. Balancing is required since cost cutting may not be the best strategy to deliver optimum consumer outputs. https://store.theartofservice.com/the-financial-management-toolkit.html

  8. Financial management for IT services - Goal • ITFM is a discipline based on standard financial and accounting principles, but addresses specific principles that are applicable to IT services, such as fixed asset management, capital management, audit, depreciation, etc. https://store.theartofservice.com/the-financial-management-toolkit.html

  9. Financial management for IT services - Goal • To provide cost-effective stewardship of the IT assets and resources used in providing IT services https://store.theartofservice.com/the-financial-management-toolkit.html

  10. Financial management for IT services - Goal • For an Outsourcing|outsourced IT organisation or an IT organisation which is run as if it were a separate entity (i.e., with full charging) the goal may be described as: https://store.theartofservice.com/the-financial-management-toolkit.html

  11. Financial management for IT services - Goal • To be able to account fully for the spend on IT services and to be able to attribute these costs to the services delivered to the organisation's customers and to assist management by providing detailed and costed business cases for proposed changes to IT services https://store.theartofservice.com/the-financial-management-toolkit.html

  12. Financial management for IT services - Supporting Organizations • To fully grasp and understand the goals of an organization, Senior Executives from all verticals turn to the IT Financial Management Week Conference, held annually each year, to educate the market on new trends, learn from industry leaders (CFOs of IT) and meet with the most credible solution providers in this space. https://store.theartofservice.com/the-financial-management-toolkit.html

  13. Financial management for IT services - Supporting Organizations • Gartner also provides an annual conference on IT Financial, Procurement and Asset Management. https://store.theartofservice.com/the-financial-management-toolkit.html

  14. Financial management for IT services - Budgeting • Budgeting enables an organization to plan future IT expenditure, thus reducing the risk of over-spending and ensuring the revenues are available to cover the predicted spend. Additionally it allows an organization to compare actual costs with previously predicted costs in order to improve the reliability of budgeting predictions. https://store.theartofservice.com/the-financial-management-toolkit.html

  15. Financial management for IT services - IT accounting • IT accounting is concerned with the amount of money spent in providing IT services. It allows an organization to perform various financial analyses to gauge the efficiency of the IT service provision and determine areas where cost savings can be made. It will also provide financial transparency to aid management in the decision making process. https://store.theartofservice.com/the-financial-management-toolkit.html

  16. Financial management for IT services - IT accounting • 'Several cost elements can be used to control your accounting:' https://store.theartofservice.com/the-financial-management-toolkit.html

  17. Financial management for IT services - IT accounting • Capital costs: Any type of purchases which would have a residual value as hardware and building infrastructure https://store.theartofservice.com/the-financial-management-toolkit.html

  18. Financial management for IT services - IT accounting • Operational costs: Day to day recurring expenses cost like rental fees, monthly electrical invoices and salaries. https://store.theartofservice.com/the-financial-management-toolkit.html

  19. Financial management for IT services - IT accounting • Direct costs: Any cost expenses which are directly attributed to one single or specific service or customer. A typical example would be the purchase of a dedicated server which cannot be shared and is needed to host a new application for a specific service or customer. https://store.theartofservice.com/the-financial-management-toolkit.html

  20. Financial management for IT services - IT accounting • Indirect costs: One specific service provision which cost needs to be distributed in between several customers in a fair breakdown. A fair example is the cost associated to overall Local Area Network on which every customer are connected to. Breakdown could be done using total amount of users per customer or total amount of bandwidth usage per customer to accurately distribute the cost of providing this service. https://store.theartofservice.com/the-financial-management-toolkit.html

  21. Financial management for IT services - IT accounting • Fixed costs: Any expenses established for long periods of time like annual maintenance contracts or a lease contracts. These expenses do not vary in the short-term. https://store.theartofservice.com/the-financial-management-toolkit.html

  22. Financial management for IT services - IT accounting • Variable Costs: Any expenses that vary in the short-term based on the level of services provided, resources consumed, or other factors. For example, energy costs are variable based on the amount consumed. https://store.theartofservice.com/the-financial-management-toolkit.html

  23. Financial management for IT services - Charging • Charging provides the ability to assign costs of an IT Service proportionally and fairly to the users of that service https://store.theartofservice.com/the-financial-management-toolkit.html

  24. Financial management for IT services - Charging • Charging is arguably the most complex of the three sub-processes, requiring a large investment of resources and a high degree of care to avoid anomalies, where an individual department may benefit from behaviour which is detrimental to the company as a whole. Charging policy needs to be simultaneously simple, fair and realistic. https://store.theartofservice.com/the-financial-management-toolkit.html

  25. Financial management for IT services - Charging • Charging need not necessarily mean money changing hands (full charging). It may take the form of information passed to management on the cost of provision of IT services (no charging), or may detail what would be charged if full charging were in place without transactions actually being applied to the financial ledgers (notional charging). Notional charging may also be used as a way of piloting full charging. https://store.theartofservice.com/the-financial-management-toolkit.html

  26. Financial management for IT services - Service-level management • Information Technology Infrastructure Library#Service level management|Service-level management provides key information regarding the level of service required by the customer (SLAs) and therefore forms the basis for calculations of all three sub-processes https://store.theartofservice.com/the-financial-management-toolkit.html

  27. Financial management for IT services - Configuration management • Given that the aim of financial management for IT is the stewardship of IT assets and resources, it is imperative that information from Information Technology Infrastructure Library#Configuration Management|configuration management and in particular from the CMDB is available. https://store.theartofservice.com/the-financial-management-toolkit.html

  28. Financial management for IT services - Capacity management • Information Technology Infrastructure Library#Capacity management|Capacity management are charged with planning and controlling the IT capacity requirements of the organisation https://store.theartofservice.com/the-financial-management-toolkit.html

  29. Financial management for IT services - Change management • Changes are often linked to costs. It is vital that financial management for IT is involved in the Change Management (ITSM)|change management process so that the on-going analysis of costs can take place. Where changes are frequent IT financial management may choose either to include anticipated changes in the original cost model or to adjust the cost model once the IT service has stabilised. https://store.theartofservice.com/the-financial-management-toolkit.html

  30. Financial management for IT services - Key performance indicators (KPIs) • In order to assess whether financial management for IT services has been successfully deployed, the following key performance indicators may be examined: https://store.theartofservice.com/the-financial-management-toolkit.html

  31. Financial management for IT services - Key performance indicators (KPIs) • * do the predicted budgets match the actual expediture? https://store.theartofservice.com/the-financial-management-toolkit.html

  32. Financial management for IT services - Key performance indicators (KPIs) • * has user behaviour changed to follow the corporate IT goals? https://store.theartofservice.com/the-financial-management-toolkit.html

  33. Financial management for IT services - Key performance indicators (KPIs) • * are charges seen by users and customers to be simple, fair and in line with organisational goals? https://store.theartofservice.com/the-financial-management-toolkit.html

  34. Financial management for IT services - List of ITFM software solutions • * Apptio, Software-as-a-Service Technology Business Management IT Financial Management [http://www.apptio.com (homepage)] https://store.theartofservice.com/the-financial-management-toolkit.html

  35. Financial management for IT services - List of ITFM software solutions • * ClearCost Software, Integrated Service Financial Management Software [http://www.clearcost.com.au (homepage)] https://store.theartofservice.com/the-financial-management-toolkit.html

  36. Financial management for IT services - List of ITFM software solutions • * Cube Billing, Software-as-a-Service Cost Allocation and Chargeback Software [http://www.cubebilling.com (homepage)] https://store.theartofservice.com/the-financial-management-toolkit.html

  37. Financial management for IT services - List of ITFM software solutions • * Digital Fuel, Software-as-a-Service IT Financial Management [http://www.digitalfuel.com (homepage)] https://store.theartofservice.com/the-financial-management-toolkit.html

  38. Financial management for IT services - List of ITFM software solutions • * EcoSys EPC, Web-based IT Financial Management and Project Controls Software [http://www.ecosys.net/industries/information-technology/ (homepage)] https://store.theartofservice.com/the-financial-management-toolkit.html

  39. Financial management for IT services - List of ITFM software solutions • * Nicus, IT Financial Management Software, On-premise or Software-as-a-Service [http://www.nicus.com (homepage)] https://store.theartofservice.com/the-financial-management-toolkit.html

  40. Financial management for IT services - List of ITFM software solutions • * Zuna Infotech, Software-as-a-Service IT Financial Management, Cost Allocation, Asset/Demand Management, Technology Business Management (TBM), [http://www.zunainfotech.com (homepage)] https://store.theartofservice.com/the-financial-management-toolkit.html

  41. Continuing professional development - American Academy of Financial Management • The American Academy of Financial Management The American Academy of Financial Management [http://www.aafm.us AAFM Board of Standards] requirements for continuing uses CPD and continuing education as part of its ongoing requirements for members https://store.theartofservice.com/the-financial-management-toolkit.html

  42. Microsoft Dynamics GP - Financial Management • 'Analytical Accounting': Analytical Accounting is a tool that helps you to analyze, interpret, and create https://store.theartofservice.com/the-financial-management-toolkit.html

  43. Microsoft Dynamics GP - Financial Management • reports based on your company’s chart of accounts.Using Analytical Accounting, you can better assess your company’s accounts. You can also store information which cannot be computed in monetary terms such as https://store.theartofservice.com/the-financial-management-toolkit.html

  44. Microsoft Dynamics GP - Financial Management • labour hours. You can enter detailed analysis information without resorting to segmental accounting. You can create budgets using analysis dimensions and compare your actual figures with budgeted figures. https://store.theartofservice.com/the-financial-management-toolkit.html

  45. Microsoft Dynamics GP - Financial Management • 'Bank Reconciliation': customizable summary and detailed views of bank account balances and all transactions: cash, check and credit card. Tools available to sort and mark transactions to improve reconciliation capabilities. https://store.theartofservice.com/the-financial-management-toolkit.html

  46. Microsoft Dynamics GP - Financial Management • 'Cash Flow Management': calendar-based interface to view and manage cash inflows and outflows to improve day-to-day financial planning. Big picture and full drill-down options available. https://store.theartofservice.com/the-financial-management-toolkit.html

  47. Microsoft Dynamics GP - Financial Management • 'Collections Management': customizable interface enabling the user to enter and view all collections in one central point. Allows to target and follow up on overdue customers with automatic delivery and tracking of collection letters, e-mails, statements and invoices. https://store.theartofservice.com/the-financial-management-toolkit.html

  48. Microsoft Dynamics GP - Financial Management • 'eBanking': an aid to reduce administration costs and manual input error as well as improve productivity and cash management in a security-enhanced environment https://store.theartofservice.com/the-financial-management-toolkit.html

  49. Microsoft Dynamics GP - Financial Management • 'eExpense Automated Expense Management': enables employees to create and submit expense reports via the Web at any time and from any location; features electronic receipt imaging. https://store.theartofservice.com/the-financial-management-toolkit.html

  50. Microsoft Dynamics GP - Financial Management • 'Encumbrance Management': encumbrance accounting module specifically designed for Not for Profit and Public Sector organizations to ensure that actual expenditures and related commitments do not exceed available funds. https://store.theartofservice.com/the-financial-management-toolkit.html

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