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IT Cost Transparency
IT cost transparency is a category of information technology management software and systems that enables enterprise IT organizations to model and track the total cost to deliver and maintain the IT Services they provide to the business. It is increasingly a task of management accounting. IT cost transparency solutions can integrate financial information such as labor costs, software licensing costs, hardware acquisition and depreciation, data center facilities charges from general ledger systems and combine this with operational data from ticketing, monitoring, asset management and project portfolio management systems to provide a single, integrated view of IT costs by service, department, GL line item and project. In addition to tracking cost elements, IT cost transparency may track utilization, usage and operational performance metrics in order to provide a measure of value or return on investment (ROI). Costs, budgets, performance metrics and changes to data points are tracked ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Information Technology Management
Information technology management or IT management is the discipline whereby all of the information technology resources of a firm are managed in accordance with its needs and priorities. Managing the responsibility within a company entails many of the basic management functions, like budgeting, staffing, change management, and organizing and controlling, along with other aspects that are unique to technology, like software design, network planning, tech support etc. Purpose The central aim of IT management is to generate value through the use of technology. To achieve this, business strategies and technology must be aligned. IT Management is different from management information systems. The latter refers to management methods tied to the automation or support of human decision making. IT Management refers to IT related management activities in organizations. MIS is focused mainly on the business aspect, with a strong input into the technology phase of the business/organization ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cost Benchmarking
Cost benchmarking is the measurement, refinement and analysis of ones Cost of Goods Sold (COGS) when compared to market peers. Cost benchmarking identifies competitiveness of pricing in industry terms, highlighting best in class pricing and subsequently showing areas for competitive pricing improvement. Cost benchmarking is a valuable tool for Supply Chain Managers when creating a negotiation strategy to drive down overall COGS. The objectives of benchmarking are to determine what and where improvements are called for, to analyze how other organizations achieve their high performance levels, and to use this information to improve performance. Cost benchmarking is a growing factor in Cost Analysis, where there is a systematic breakdown of existing cost data to allow for closer examination. However, Procurement Professionals often face immense difficulty in identifying their market peers' pricing due to the confidentiality Confidentiality involves a set of rules or a promise usu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Service Level Management
The Information Technology Infrastructure Library (ITIL) is a set of detailed practices for IT activities such as IT service management (ITSM) and IT asset management (ITAM) that focus on aligning IT services with the needs of business. ITIL describes processes, procedures, tasks, and checklists which are neither organization-specific nor technology-specific, but can be applied by an organization toward strategy, delivering value, and maintaining a minimum level of competency. It allows the organization to establish a baseline from which it can plan, implement, and measure. It is used to demonstrate compliance and to measure improvement. There is no formal independent third party compliance assessment available for ITIL compliance in an organization. Certification in ITIL is only available to individuals. Since 2013, ITIL has been owned by AXELOS, a joint venture between Capita and the UK Cabinet Office. History Responding to growing dependence on IT, the UK Government's Ce ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
ITIL
The Information Technology Infrastructure Library (ITIL) is a set of detailed practices for IT activities such as IT service management (ITSM) and IT asset management (ITAM) that focus on aligning IT services with the needs of business. ITIL describes processes, procedures, tasks, and checklists which are neither organization-specific nor technology-specific, but can be applied by an organization toward strategy, delivering value, and maintaining a minimum level of competency. It allows the organization to establish a baseline from which it can plan, implement, and measure. It is used to demonstrate compliance and to measure improvement. There is no formal independent third party compliance assessment available for ITIL compliance in an organization. Certification in ITIL is only available to individuals. Since 2013, ITIL has been owned by AXELOS, a joint venture between Capita and the UK Cabinet Office. History Responding to growing dependence on IT, the UK Government's Ce ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
IT Chargeback And Showback
IT chargeback and IT showback (memo-back) are two policies used by information technology (IT) departments to allocate and/or bill the costs associated with each department's or division's usage. Chargeback The need to understand the components of the costs of IT, and to fund the IT organization in the face of unexpected demands from user departments, led to the development of chargeback mechanisms, in which a requesting department gets an internal bill (or "cross-charge") for the costs that are directly associated to the infrastructure, data transfer, application licenses, training, etc., which they generate. The purpose of chargeback includes: * Making departments responsible in their usage, e.g., refrain from asking for resources they are not going to use * Providing visibility to the head of IT and to senior management on the reasons behind the costs of IT * Allowing the IT department to respond to unexpected customer demand by saying "yes, we can do it, but you will have to p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cost Management
Cost accounting is defined as "a systematic set of procedures for recording and reporting measurements of the cost of manufacturing goods and performing services in the aggregate and in detail. It includes methods for recognizing, classifying, allocating, aggregating and reporting such costs and comparing them with standard costs." (IMA) Often considered a subset of managerial accounting, its end goal is to advise the management on how to optimize business practices and processes based on cost efficiency and capability. Cost accounting provides the detailed cost information that management needs to control current operations and plan for the future. Cost accounting information is also commonly used in financial accounting, but its primary function is for use by managers to facilitate their decision-making. Origins of Cost Accounting All types of businesses, whether manufacturing, trading or producing services, require cost accounting to track their activities. Cost accounting h ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Software
Software is a set of computer programs and associated documentation and data. This is in contrast to hardware, from which the system is built and which actually performs the work. At the lowest programming level, executable code consists of machine language instructions supported by an individual processor—typically a central processing unit (CPU) or a graphics processing unit (GPU). Machine language consists of groups of binary values signifying processor instructions that change the state of the computer from its preceding state. For example, an instruction may change the value stored in a particular storage location in the computer—an effect that is not directly observable to the user. An instruction may also invoke one of many input or output operations, for example displaying some text on a computer screen; causing state changes which should be visible to the user. The processor executes the instructions in the order they are provided, unless it is instructed ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
McKinsey
McKinsey & Company is a global management consulting firm founded in 1926 by University of Chicago professor James O. McKinsey, that offers professional services to corporations, governments, and other organizations. McKinsey is the oldest and largest of the " Big Three" management consultancies (MBB), the world's three largest strategy consulting firms by revenue. The firm mainly focuses on the finances and operations of their clients. Under the leadership of Marvin Bower, McKinsey expanded into Europe during the 1940s and 1950s. In the 1960s, McKinsey's Fred Gluck—along with Boston Consulting Group's Bruce Henderson, Bill Bain at Bain & Company, and Harvard Business School's Michael Porter—transformed corporate culture. A 1975 publication by McKinsey's John L. Neuman introduced the business practice of "overhead value analysis" that contributed to a downsizing trend that eliminated many jobs in middle management. McKinsey has a notoriously competitive hiring process, a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Digital Fuel
Digital Fuel is a provider of IT financial management SaaS software for planning, billing. The company's headquarters is in Los Angeles, California. History Digital Fuel was co-founded in 2000 by Benny Lehmann, Israel Dancziger, Gilad Raz and Yakov Kogan who served as the company's CEO, CTO, and vice president of engineering, respectively. Digital Fuel's ServiceFlow software was originally sold to corporate IT teams and to service providers to help them manage service level agreements (SLAs) for outsourcing agreements. In 2008 Digital Fuel expanded its product line to include IT financial management tools, to help corporate IT manage the business value and cost of IT and gain better insight into IT costs. Digital Fuel has raised over $30m in funding from investors including Apax Partners, Benchmark Capital, Israel Seed Partners, and Sigma Partners. In June 2011, VMware purchased Digital Fuel for $85 million. In September 2016, Skyview Capital acquired Digital Fuel from VMware. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Consumerization
Consumerization is the reorientation of product and service designs to focus on (and market to) the end user as an individual consumer, in contrast with an earlier era of only organization-oriented offerings (designed solely for business-to-business or business-to-government sales). Technologies whose first commercialization was at the inter-organization level thus have potential for later consumerization. The emergence of the individual consumer as the primary driver of product and service design is most commonly associated with the IT industry, as large business and government organizations dominated the early decades of computer usage and development. Thus the microcomputer revolution, in which electronic computing moved from exclusively enterprise and government use to include personal computing, is a cardinal example of consumerization. But many technology-based products, such as calculators and mobile phones, have also had their origins in business markets, and only over time ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bill Of IT
Bill of IT is an exhaustive list of information technology assets and services owned by a company. The bill displays a breakdown of all the IT assets and services in relation to various items. The bill is often used by companies as a chargeback and showback tool because it shows the relation between specific service/asset and employee, cost center, department, location, line of business, etc. It allows companies to see what they own and how their resources are allocated in the organizations. Most bills of IT show the following element (among other details): * Cost - What each asset/service cost (price per unit); * Price - The price of each service/asset multiply by the quantity of service/asset (predefined unit rate); *Budget -The full budget (cost) associated with the use of this service/asset for a year or any chosen reporting period; * Quality - The quality of the service/asset is shown through various metrics: uptime, response time (with support, etc); *Benchmarking - Compar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
IT Services
Information technology service management (ITSM) is the activities that are performed by an organization to design, build, deliver, operate and control information technology (IT) services offered to customers. Differing from more technology-oriented IT management approaches like network management and IT systems management, IT service management is characterized by adopting a process approach towards management, focusing on customer needs and IT services for customers rather than IT systems, and stressing continual improvement. The CIO WaterCoolers' annual ITSM report states that business uses ITSM "mostly in support of customer experience (35%) and service quality (48%)." Context As a discipline, ITSM has ties and common interests with other IT and general management approaches, information security management and software engineering. Consequently, IT service management frameworks have been influenced by other standards and adopted concepts from them, e.g. CMMI, ISO 9000 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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