This will help IT teams link their service to profit creation or maximization. Comprehensive financial information also allows businesses to obtain the appropriate budget to deliver a new service or justify the expansion of support teams.
Most IT organizations can report on IT service quality and detail IT budgets along departmental or asset lines, but ideally, the IT service management (ITSM) application should also be able to provide senior management with an overview of the cost of each service that the organization makes available to its employees. These services are, after all, the tools that the employees rely on to be successful, and a lot of money is spent
Effective service cost tracking in your ITSM/ESM solution can bridge the great divide between IT service and corporate finance. For cost tracking to be effective, it should provide you with accurate real-time information on a per-service basis and provide business leaders with a complete overview of all the services they make available and how much each of them costs.