ITFM Pathway to Success: Step 2 – Service Definition
ITFM Pathway to Success: Step 2 – Service Definition
The MagicOrange ITFM Pathway to Success is designed to help CIOs, CFOs, and IT Finance VPs enhance their ITFM capabilities and manage IT finances more effectively. To achieve the benefits of implementing ITFM processes and best practices, a series of planned and measured steps must be taken methodically over time. This framework ensures that IT service charges are transparent and that the business understands them, leading to improved financial compliance, better operational control, and enhanced decision-making.
The Importance of a Service CatalogUE
Benefits of a Well-Developed Service Catalogue
A well-developed service catalogue is vital for IT to provide a single customer-facing reference source for all services offered. Key benefits include demonstrating the value of IT, simplifying the process of ordering IT services, improving interaction with IT, and ensuring the availability of documents and Service Level Agreements (SLAs) for each service. This leads to more efficient consumption of services, improved transparency, and increased customer satisfaction.
Understanding a Service Catalogue
What a Service Catalogue Is
A service catalogue serves as a communication tool for productive dialogue with the business about what services IT can deliver. It is an easy-to-use document that helps customers understand how to request services, what the service performance levels are, and what they cost. Additionally, it acts as a leading practice framework for defining services and forms the foundation for any type of allocation or chargeback process.
What a Service Catalogue Is Not
It is important to clarify that a service catalogue is not an IT operating or service delivery model, nor is it constrained by the current structure of outsourcing service contracts. It is not a self-service portal for the business or a detailed technical process list that shows how to deliver IT services.
Creating a Service Catalogue
Initial Steps and Considerations
Creating a service catalogue is a dynamic process. It is important to recognise that a service catalogue is a living document that will change as services evolve. Organisations should not strive for perfection before creating their first service catalogue; instead, they can develop it in stages and allow it to evolve over time.
MagicOrange’s Service Catalogue Template
MagicOrange has developed a leading practice service catalogue template that can be customized for any organisation. This template is available as part of the MagicOrange ITFM Pathway to Success implementation process.
Expert Insights From Pete Hidalgo
Pete Hidalgo is a recognised IT Financial Management (ITFM) expert with over 25 years of experience. He developed the ITFM Pathway To Success framework and implemented significant cost-saving processes at a Fortune 100 company. Pete also led ITFM initiatives at Ernst & Young and taught ITFM courses at EY University. He now focuses on enhancing MagicOrange’s presence in the US and educating organisations on ITFM benefits.
Key Elements of a Service Listing
Essential Components
If creating a complete service catalogue is challenging due to time or budget constraints, a simpler service listing can be created initially. As a minimum, the service listing should include the following:
- Description of the service
- Consumers of the service
- Service owner/department responsible
- Unit of measure for the service
- Performance metrics
- SLAs
- Cost
Expert Guidance from MagicOrange
Navigating the ITFM Journey
MagicOrange recognises the complexity of achieving ITFM maturity and has experts equipped to guide customers through each step of the process. The MagicOrange ITFM Pathway to Success framework helps customers drive cost optimisation throughout the organisation by approaching savings initiatives systematically and holistically.
Benefits of Implementing the ITFM Framework
By following the ITFM Pathway to Success framework, organisations can achieve benefits such as reducing costs, increasing customer satisfaction, and creating greater value. MagicOrange’s expert guidance ensures that these benefits are realized effectively.
Continuous Improvement and Value Creation
Achieving ITFM success requires ongoing assessment and alignment with business goals. MagicOrange provides the tools and guidance necessary for continuous improvement and value creation. Contact MagicOrange to start your ITFM journey and drive cost optimisation in your organisation.