By Scott Davis
The new era of IT requires enterprises to enable a wide variety of technology services at massive scale, which has led to investments in technology-focused finance, asset and service management solutions.
Organizations making these investments have focused more on the broader-based challenges associated with tracking budgeting and service. However, as technology investments become more complex, organizations are finding they lack the level of granularity necessary to support the needs of the business as well as supporting the different IT environments. The impact of these challenges can lead to IT teams having to frustratingly navigate between environments while finance teams lack clear data visibility into better understanding significant IT cost changes. Thus, proper integration is needed for all these management processes.
Organizations must think ‘big picture’ when it comes to rethinking their technology management approach. In order to be successful with this new level of integration, a unified technology asset, expense, and service management strategy needs to be developed.
IT Expense Management is historically referred to as Telecom Expense Management (TEM). However, for the purpose of this article we will refer to it as IT Expense Management (ITEM), as what we’re talking about is broader than telecom. At the highest level, an ITEM (IT Expense Management) solution helps enterprises properly gain unified visibility into invoices, expenses, usage and assets across their entire communications, cloud and software license portfolio. The ultimate goal is to reduce overall costs and increase productivity by creating increased visibility and a more finely tuned set of processes to manage existing IT infrastructures.
Think of ITEM as an engine that does all the heavy lifting required to understand the variances between contracts and costs based on actual usage within the organization. When it comes to ITSM, ITFM and ITAM solutions, what you quickly find is that ITEM serves as the connective tissue between these solutions by creating a common set of source data.
It’s important to understand the roles each solution plays and how a more detailed view into usage and cost can improve the overall strategic initiative. These types of solutions enable enterprises to track usage, products, features, and spend details that align contracts, invoices, inventory, and service orders into a fully integrated IT management lifecycle.
Many leading ITEM solutions have the ability to integrate with different applications. Calero’s solutions, in particular, offer connection points and value-ads for the three types of enterprise solutions (ITSM, ITAM, ITFM) and others. Calero can manage the lifecycle of cloud and communication technology services from procurement through provisioning and payments.
Want a deeper dive? Check out this whitepaper to learn how ITEM enables more visibility and granularity across ITSM, ITAM and ITFM and the broader Enterprise solution IT stack. Click here to download.