We improve budget and financial management related to the use of IT assets and services.
We improve financial management related to the use of IT assets and services.
With a changing IT landscape, aided by technological dispersion and the increasing purchasing power of business functions, IT struggles to have an understanding of the business value of each IT service and asset.
What costs may seem high but their impact on business is crucial and what IT services seem valuable but are secretly driving up spending without any real benefit?
IT is called upon to control and optimize technological spending, as well as to plan its management so that it responds to business needs. But the technological environment has blind spots, such as the sprawl SaaS, where IT is not aware of the activated applications and what they are being paid for. And complexity grows with hybrid infrastructure, where virtual resources fall under Opex cost headings.
With a changing IT landscape, aided by technological dispersion and the increasing purchasing power of business functions, IT struggles to have an understanding of the business value of each IT service and asset.
What costs may seem high but their impact on business is crucial and what IT services seem valuable but are secretly driving up spending without any real benefit?
IT is called upon to control and optimize technological spending, as well as to plan its management so that it responds to business needs. But the technological environment has blind spots, such as the sprawl SaaS, where IT is not aware of the activated applications and what they are being paid for. And complexity grows with hybrid infrastructure, where virtual resources fall under Opex cost headings.
With our IT Financial Management service, we can monitor the availability of assets and the costs generated from one point to assign them to the various cost centers and monitor waste.
With a better understanding of technology usage and expense, we facilitate informed decision making on subscription levels, renewals and new digital initiatives. This makes it easy to manage and plan the IT budget, at any time.
With our IT Financial Management service, we can monitor the availability of assets and the costs generated from one point to assign them to the various cost centers and monitor waste.
With a better understanding of technology usage and expense, we facilitate informed decision making on subscription levels, renewals and new digital initiatives. This makes it easy to manage and plan the IT budget, at any time.
What situations involving your IT team should alarm you?
In your organization, you require IT resources for specific problems as they arise, making it difficult to plan your budget.
Employees who need immediate access to specific services do so without going through the necessary steps to get the technology through official IT channels.
There are no informed and aware consumption mechanisms of IT resources. For example, public cloud is not always cheaper. In some cases it will be, in others no. But you have no data to help people in choosing.
Technology, Finance and Business have convergent goals, but there is a lack of a unique measurement that allows you to determine the real value of services, to make choices according to the principles of efficiency, effectiveness and quality.
In your organization, you require IT resources for specific problems as they arise, making it difficult to plan your budget.
Employees who need immediate access to specific services do so without going through the necessary steps to get the technology through official IT channels.
There are no informed and aware consumption mechanisms of IT resources. For example, public cloud is not always cheaper. In some cases it will be, in others no. But you have no data to help people in choosing.
Technology, Finance and Business have convergent goals, but there is a lack of a unique measurement that allows you to determine the real value of services, to make choices according to the principles of efficiency, effectiveness and quality.
The purpose of IT Financial Management is to provide a clear vision of how and where the IT budget is spent, enabling the evaluation of the effectiveness and efficiency of the IT governance action. Given the importance of IT assets and services to make operational business functions, costs must be shared among the Lob users, because of the actual consumption. These are in effect costs in favor of the business. Especially when it comes to Demand Management, it is crucial for the business to be able to quantify the return value and IT must be able to provide these answers. To do this, you should:
The first step is to gain visibility into the blind spots of your technology environment, with accurate inventories of the resources and expenses they generate across the ecosystem. This knowledge must extend to both on-premises and cloud environments and integrate information from multiple sources to allow a unique and normalized reading. Think of cloud vendors, who can use different metrics to measure consumption: data must be reconciled and compared with those of their local infrastructure.
Complete visibility into technology spending helps create a shared responsibility within the company, showing Lobs and operations teams what they are spending and why. IT should coordinate the various stakeholders, promoting a unique measurement system. The first step is to define KPIs. Finance and Engineering, for example, use different terms to describe the same service: the former speak of usage, rates, costs, charging and are more interested in knowing what expenditure has been committed and what costs must be amortised, while the latter talk about availability, reliability and capacity, being focused on efficiency and performance. For this, you should be able to enter a concept of economic unit, which aims to measure IT spending and performance in relation to business metrics.
Finally, you should build systems and governance policies that provide continuity and structure. Allow you to detect consumption in real time without any benefit and act accordingly, reviewing subscription levels and any renewals and setting up automated optimization systems. Understanding the use of technological spending allows you to make consumption forecasts, activate controlled and use-based procurement policies, and better plan your budget.
The purpose of IT Financial Management is to provide a clear vision of how and where the IT budget is spent, enabling the evaluation of the effectiveness and efficiency of the IT governance action. Given the importance of IT assets and services to make operational business functions, costs must be shared among the Lob users, because of the actual consumption. These are in effect costs in favor of the business. Especially when it comes to Demand Management, it is crucial for the business to be able to quantify the return value and IT must be able to provide these answers. To do this, you should:
The first step is to gain visibility into the blind spots of your technology environment, with accurate inventories of the resources and expenses they generate across the ecosystem. This knowledge must extend to both on-premises and cloud environments and integrate information from multiple sources to allow a unique and normalized reading. Think of cloud vendors, who can use different metrics to measure consumption: data must be reconciled and compared with those of their local infrastructure.
Complete visibility into technology spending helps create a shared responsibility within the company, showing Lobs and operations teams what they are spending and why. IT should coordinate the various stakeholders, promoting a unique measurement system. The first step is to define KPIs. Finance and Engineering, for example, use different terms to describe the same service: the former speak of usage, rates, costs, charging and are more interested in knowing what expenditure has been committed and what costs must be amortised, while the latter talk about availability, reliability and capacity, being focused on efficiency and performance. For this, you should be able to enter a concept of economic unit, which aims to measure IT spending and performance in relation to business metrics.
Finally, you should build systems and governance policies that provide continuity and structure. Allow you to detect consumption in real time without any benefit and act accordingly, reviewing subscription levels and any renewals and setting up automated optimization systems. Understanding the use of technological spending allows you to make consumption forecasts, activate controlled and use-based procurement policies, and better plan your budget.
We enable IT to measure the value of each investment and become a strategic partner of Finance and Business. We reduce the margin of error in budget planning, with better allocation and forecasting of individual cost items.
We also offer internal and external benchmarking elements to understand how the company is performing in relation to IT investments, with timely answers to the question "Could we spend better?"
We enable IT to measure the value of each investment and become a strategic partner of Finance and Business. We reduce the margin of error in budget planning, with better allocation and forecasting of individual cost items.
We also offer internal and external benchmarking elements to understand how the company is performing in relation to IT investments, with timely answers to the question "Could we spend better?"
We offer complete visibility of technology consumption.
We guarantee the correct allocation of costs.
We give guidance on how to spend resources better.
We offer complete visibility of technology consumption.
We guarantee the correct allocation of costs.
We give guidance on how to spend resources better.
Would you like to improve financial management for your IT assets?
Would you like to improve financial management for your IT assets?
OUR OFFICES
OUR OFFICES
PADUA
Via Arnaldo Fusinato 42, 35137
MILAN
Viale Enrico Forlanini 23, 20134
ROME
Viale Giorgio Ribotta 11, 00144
Copyright © 2022 WEGG S.r.l. • P.I 03447430285 • C.F. 02371140233 • REA 311023
Certified company ISO 9001:2015
