What is IT Cost Management Software?

What is IT Cost Management Software?

IT Cost Management software is a tool that automates tracking the cost of the present information technology infrastructure and also IT growth, and, beyond budgeting, helps communicate the cost and value that presently-existing and projected IT represents to the stakeholders.

It provides a consistent framework for IT investment decisions. It replaces the dozens (if not hundreds) of ad-hoc, one-off spreadsheets that are put together to support with IT investment decisions and acts in conjunction with the General Ledger or Financial Performance Management (FPM) modules and consists of 2 parts:

 

IT Cost Management software

 

Benefits:

  1. It helps in cutting down the unnecessary costs and reduce the expenses
  2. It helps in accurately forecast the costs and outcome from the new IT investments
  3. It saves time and resources
  4. It helps in making informed decisions