IT financial management is the process used to plan, control, and recover costs expended in providing individual IT services. Many organizations look at IT services as a whole. However, IT financial management considers each of the individual services IT delivers to the business (desktop, network,hosting services, etc.).
The role of financial management and how IT is viewed will vary within each organization.Some companies regard IT as an expense center, others as a profit center, and some look at it as a source recovery center. In all cases, however, financial management supports the business of IT because IT really is a business within the organization itself.
The objective of IT financial management is to give insight into the true costs of providing IT services and the effects of business consumption on those services. It is the foundation of running IT as a business.
17 September 2013