The basis for control of finances is to have control of the costs of individual services across multiple vendors. Based on this information, one can make informed decisions for lifecycle management of the service portfolio. TCO of services, and cost/benefits for each service, are the basis for good management of the service portfolio. Very often budgets and cost control is structured into organizational silos and in projects. To transform this into TCO for services requires a systematic approach, and may affect the company’s financial management.
The requirement for managing the service economy is that one has to have an overview of the services. A service catalogue is a good starting point.
An unknown factor here is the so-called “Shadow IT”, i.e., all unofficial service used without having been officially sanctioned. Here lie major costs, and a fair number of challenges concerning security.
OptimiseIT has competence in this field and we are happy to assist.