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How Can You Save Time With Intelligent ITFM?

How Can You Save Time With
Intelligent ITFM?

April 21, 2020 Steven Middeldorp

There is no better space in which to repeat the old and oft-proven adage – time is money. And that is no more apparent in today’s fast pace world where companies are ever on the lookout for a way to increase efficiencies, with the objective of saving time and money.

 

What could you do with your IT resources if given more time?

Whether you want to work on your business strategy or work on your golf game, and IT Financial Management software solution can free up time and energy. With an automated solution, you can spend your time more as you choose to do rather than on what you have to do.

If you do not have an IT Financial Management tool, you are likely wasting time and money – valuable resources that could be better spent elsewhere.

 

How does IT Financial Management software save you time?

Simply put – you gain immediate access to critical IT investment information in business terms that are clear and understandable.

IT executives are required to track costs and are expected to:

1. Justify key business drivers for IT spend

2. Identify the total cost of ownership of each Service

3. Explain major IT cost variances or cost increases in a defensible way, that the business cannot dispute

If your IT team can’t readily provide IT spend transparency and linkage from GL to business services, you could be spending valuable time selling the accuracy of existing spreadsheets, explaining altered cost analysis, and addressing IT spend questions and legitimate concerns about the IT investments. With a fully automated  ITFM solution, your IT team can deliver explainable data analytics instantly, building credibility with all stakeholders.

A comprehensive Financial Management solution can eliminate the fragile ecosystems of spreadsheets that are too complicated to be easily understood, takes vast amounts of time to prepare and correlate, are often full of errors, and lack credibility. While spreadsheets can be sophisticatedly engineered, they have limitations on the proper linkage between the GL, to Activity Pools, to Technical Services, and finally to Business Services – a difficult, time-consuming task for you and your team.

A complex spreadsheet would be heavily scrutinised during a financial audit, and yet many IT departments rely on spreadsheets to analyse complex financial information in response to demands for supporting the business. This can put IT finance in a very compromising position.

As Gartner has stated:

“Spreadsheets are great for many things; however, when it comes to running the business of technology, they’re inadequate and unreliable. CIO’s and other tech management leaders must replace them with purpose-fit solutions.”

 

How does ClearCost IT Financial Management software save you even more time? 

1. Rapid deployment model – 90 Day Implementation Target

ClearCost has created a rapid-build ITFM system (“ClearCost Builder”), geared to fast-track implementation of your new ITFM software, based on your current state of readiness and resourcing. With our Crawl, Walk, Run methodology, we can rapidly implement, usually within 90 days, a fully automated ITFM system working around your current schedule. The ClearCost Builder approach allows you to generate data analytics within a few weeks, not months. We can provide an operational Proof of Concept by building your taxonomy within days, not weeks. Based on our Builder tool, we can demonstrate a fully functional shared service catalogue with your financial data and your organizational structure running comprehensive reporting and data analytics.

2. Proprietary Data Gathering Software

Although many tech executives see the value in ITFM, they simply don’t have the time or budget for traditional deployment methods. Some of our competitors in the IT Financial Management software market require months – even years of ongoing consulting services before designing taxonomy and implementing a five-stage balanced model. The ClearCost remote consulting approach can gather a majority of your crucial financial data, cost pools, infrastructure, and business structure without business disruption or consultants at your doorstep. With our approach, software, and SaaS-based hosting, we can help your organization implement a low-maintenance system with ongoing web-based video and conference support as needed. Our seasoned professionals are only a phone call away to answer any questions to explain our onboarding process.

3. Start Saving Time Today

To learn more about how our proven methodology used by businesses across the globe, to help save you time and resources, speak to our team to schedule a web-based demo of our ITFM software solution. It is far easier and more cost-effective than you may imagine having your own state-of-the-art world-class ITFM system. And you can have it in less than 90 days. Time saved.

CategoriesBlog

TagsIT Financial Management software, ITFM, ITFM software, IT Financial Management tool, CIO, CFO, IT Financial Management, SaaS

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