Running IT like a business comes down improving the interaction between IT and business units. According to Business Finance Mag, successfully implementing any IT financial management (ITFM) solution requires an understanding of what you’re implementing and how you’re going to implement it.
A recent study by Gartner outlined how using the right IT financial management tools makes it easier to keep track of and manage the total cost of IT services. This study details the link between IT financial management and telecoms expense management (TEM), particularly looking into how the two fit together.
Gartner also highlighted that communication services in 2017 will account for roughly 41% of overall IT spend globally. That’s a fairly big piece of the pie; especially when you consider how difficult it is to accurately track communication services. We’ve written several articles about TEM and reducing wasteful expenditure and streamlining operations.
How ITFM and TEM complement each other
Ultimately, IT financial management increases cost transparency and boosts budget forecasting. A pure play IT financial management offering pulls all cost data, which is later entered into the ITFM solution. A TEM platform can make this process much more efficient. As such, ideally, IT financial management solutions and TEM systems should be integrated to make the process seamless
In line with this, the purpose of TEM and IT financial management are closely intertwined – both look to give businesses a clearer view of their environment, allowing them to optimise operations with the future in mind. TEM solutions delve deeper into the data because they’re the data source. This makes it possible to look at specific IT assets – from telecoms and mobility to cloud and unified comms – and ensure that these meet business requirements.
OneView, our next generation, cloud-based telecoms lifecycle management system, features various financial management and automation features. From mobile spend analysis and recharge reports to billing verification and fixed voice spend analysis – OneView simplifies your operations by automating and simplifying the tracking of complex telecoms tasks.
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