When implementing a new software, there is oftentimes a notion or belief that the software itself is going to solve all of the problems that you had before your purchase. IT financial management is no different from any other industry, there are providers that sell an easy button solution, but implementing a mature IT financial management practice is never that simple. For example, owning Microsoft Word does not make you a novelist. You have to understand writing structure, what the audience is looking for, and how to deliver that message. IT financial management relies on the same practices and approaches.
Regardless of which major software provider you purchased your solution from, all tools have the capability of translating IT costs into business capabilities, business unit expense, and agency missions. However, no tool on the market can be turned-on without appropriate configuration and tailoring to your specific delivery model. Understanding how stakeholders go through their budget formulation and execution processes every month and how IT service delivery translates into a tactical set of services in a cost model are things that no solution will deliver for you. That is why having an implementation partner is so important.
That partner needs to bring several things to the table to ensure success. It’s important to know how to structure an industry-standard cost model like ATUM or the Proven Optics Decision Based cost model as well as how to implement your self-defined model. All model types can be implemented in all platforms. Additionally, they also need to know how to best communicate the results of that cost model software. Some solutions have great pre-defined reporting, some have flexible solutions, and others need assistance from other BI platforms to visualize the results.
When evaluating your next investment into IT financial management, make sure that you’re investing in more than just a software, but a solution to enable decision-making for your organization.