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