ServiceNow, the enterprise cloud company, announced the industry’s first cloud solution that gives IT leaders visibility to financial, project and application portfolios on a single platform. ServiceNow IT Business Management Suite (ITBM) is a breakthrough innovation that better aligns IT outcomes to business goals. It puts IT in the driver’s seat to manage change and speed innovation.

“With ServiceNow ITBM, we are delivering a command center to the CIO," said Kevin Nanney, senior director, Product Management, ITBM, ServiceNow. "Every IT leader can now have a vantage point over all IT resources, projects and costs to make sure they are driving the business forward.”

The Proliferation of Applications

Larger companies can have hundreds, if not thousands, of applications including many not directly under the control of IT. Money is wasted through duplication, under-utilization and licensing compliance issues. Further problems arise when the business demands new capabilities as it's not always clear whether to invest in an existing application or build/buy a new one. Complexity grows in the cloud-first era, where the rapid rise of cloud services can challenge CIOs to achieve a 360-degree view of the entire portfolio of business applications. IT costs can be harder to predict.

Without proper visibility and control, companies often deploy point-products to attempt to solve the most pervasive problems. But the time-consuming, manual processes required to collect financial data, manage integration and development, and report on progress serve as strong headwinds to achieve business goals.

Introducing IT Business Management Suite—The CIO’s Command Center

ServiceNow ITBM uniquely combines Project and Portfolio Management, IT Financial Management and Application Portfolio Management on a single, cloud-based platform. Only ServiceNow provides core information about thousands of IT applications, assets, services, projects, service levels and risk profiles – all connected to the customer’s configuration management database (CMDB). With indicators and metrics for the true cost and performance of business applications and services, IT leaders can rationalize their investments and focus on the innovations that drive business outcomes.

Specifically, the benefits of ServiceNow ITBM include:

1. Complete Financial and Portfolio Visibility.
   ITBM links real costs from the general ledger to a full inventory of IT’s infrastructure, applications and business services with no point product integrations. A 360-degree view of the entire IT portfolio of services and business applications makes it easy for IT leaders to identify waste, evaluate projects and applications on key management criteria, and allocate budget more efficiently.
   
2. Better Strategic Alignment of IT Services and Investments with Application Rationalization.
   IT leaders can use a dynamic scoring engine to set priorities based on business strategy and prioritize all demand in one system with Demand Management. Collaborative governance and funding modeling based on Program and Portfolio Workbenches and a detailed repository of business applications to drive the application roadmap can be built on the platform.
   
   
3. More Agile IT and Accelerated Delivery of Innovative Services.
   ITBM from ServiceNow goes beyond traditional Technology Business Management (TBM) and breaks down the silos of ‘run the business’ and ‘change the business’ work. IT leaders have one place to get cost, resource, and project status data, regardless of the development method (e.g., agile, waterfall, hybrid) using collaborative work management features like ServiceNow Connect and Visual Task Boards. Teams work faster and smarter.

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