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Financial Management of IT Services

Parent Process Reference Framework:   ITIL

Parent Life Cycle: Service Strategy

Financial Management for IT Services

Financial management for IT services is the process responsible for managing an IT Service provider’s accounting, budgeting and charging requirements. It is also the process that is used to quantify the value that IT Services contribute to the business.

IT Financial Management will be a sub-set of organisational level Financial Management practices. The Financial Management will be governed by Regulatory requirements and Enterprise policies. 

Accounting:

Cost model –Direct cost, Indirect cost 

Cost types: Hardware, software, people, facilities 

Cost classification: Capital and Operational costs, 

Budgeting:

Analysis of previous budget 

Cost and revenue estimation 

Charging

Charging policies 

Pricing 

Billing 

Skills

Financial Management

Training

Short term courses on “Finance for non-finance personal” 

Accounting courses

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