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ITFM Practitioners

IT Financial Management practitioners face a daunting set of challenges. Optimising spend and resource allocation from multiple data sources is time-consuming and error-prone. Cutting IT waste is difficult without clear visibility into hidden costs. Cost allocation and chargeback programs lack transparency – often leading to tense conversations and an erosion of trust with key stakeholders. MagicOrange provides the tools necessary for streamlining ITFM processes and gaining stakeholder approval.

Streamline ITFM

With A Single Source Of Truth

Allocate Transparently

Yielding Indisputable Chargeback

Recover Savings

By Revealing Hidden Costs

The Constant Pressure To Optimise IT spend . . .

Most ITFM professionals struggle to achieve IT cost-transparency. Multiple spreadsheets and disparate data sources turn financial tracking into a nightmare. IT wastage, such as unused licenses and redundant resources, further complicates visibility. Cost allocation and chargeback methods frequently spark skepticism and painful questions.

. . . Often Feels Like Operating Without A Net

Frequent errors and inconsistencies tends to be the norm when tracking costs across a broad set of data sources and error-prone spreadsheets. Unused licenses and redundant applications require constant vigilance. Chargeback allocation breakdowns rarely meet the levels of transparency expected which increases the risk of disputes and eroding trust. These challenges make it difficult for ITFM professionals to maximise the value of IT investments and drive strategic initiatives.

^$5 trillion

Expected Worldwide IT Spending In 2024

An increase of 6.8% from 2023

Gartner: Press Release

Common ITFM Challenges

Fixing Data Sprawl

Failing to streamline data sources into a unified platform impacts data accuracy and slows retrieval speed. This lack of consolidation compromises compliance and governance efforts, leading to operational inefficiencies and increased errors.

An IT financial management platform enhances data governance

By centralising data sources, organisations can ensure compliance, improve data integrity, gain agility and minimise risks. This streamlines operations and enhances organisational transparency and accountability.

Explore how MagicOrange helps tame data sprawl

Eliminating IT Budget Waste

Efficient ITFM processes keep unneccesary costs from spiraling out of control. Duplicate or unused licenses. Unused or underutilised hardware. Duplicate or dormant cloud instances. A lack of best practices and clear-line-of-sight into cost drivers hampers workflow efficiency and diminishes efficient resource allocation.

ITFM best practices: Maximising resource utilisation

Implementing best practices is impossible without having the right tools to analyse your financial data. The right platform facilitates a clear line of sight into cost drivers so ITFM practitioners can guide the organisation on how to combat waste head on.

Learn how MagicOrange helps reduce wasteful IT spend

Building Clean Chargeback

A clean and transparent cost allocation model is foundational for strong chargeback programs. The transparency ensures buy-in and fosters accountability from business stakeholders. However, without the right ITFM software, it is really hard to produce a clean bill of IT. Manual calculations result in errors and a lack of granularity that often reduces stakeholder confidence around the bill they are paying.

Promoting accountability with transparent ITFM chargeback models

With the right platform, ITFM practitioners can implement a clean and transparent cost allocation model. And with a clean bill of IT, a generally accepted chargeback program is attainable. The right platform automates processes and reduce errors. And easily accessible stakeholder reporting enhances understanding and fosters accountability from the business line.

Explore how MagicOrange can help produce a clean bill Of IT

Level-Up Your ITFM Game

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