IT Financial Management (ITFM)

IT financial management (ITFM) is the oversight of expenditures required to deliver IT products and services. The discipline is based on traditional enterprise financial and accounting best practices, such as mandating documentation of expenses and requiring regular audits and reports. However, IT financial management methods and practices are adapted to address the particular requirements of managing IT assets and resources.

Gartner professes that most organizations prioritize the following ITFM capabilities in their practices:

• Budgeting
• Forecasting
• Variance analysis
• Cost optimization

See Also

IT Cost Allocation
Technology Business Management (TBM)
IT Chargeback
IT Cost Optimization
Federal IT Acquisition Reform Act (FITARA)
Total Cost of Ownership (TCO)

Further Reading

• Basics of IT Financial Management - What you need to know and why IBM