Financial Management

ITIL Version: ITIL Version 3 (ITIL V3)

Process Objective: To manage the service provider's budgeting, accounting and charging requirements.

Part of: Service Strategy

Process Owner: Financial Manager

Sub-Processes of Financial Management (ITIL V3)

Overview of the Financial Management Process, ITIL V3 (.pdf)

Financial Management Support

Process Objective: To define the necessary structures for the management of financial planning data and costs, as well as for the allocation of costs to services.

Financial Planning

Process Objective: To determine the required financial resources over the next planning period, and to allocate those resources for optimum benefits.

Financial Analysis

Process Objective: To analyze the structure of service provisioning cost and the profitability of services. The resulting financial analysis allows Service Portfolio Management to make informed decisions when deciding about changes to the Service Portfolio.

Service Invoicing

Process Objective: To issue invoices for the provision of services and transmission of the invoice to the customer.

Related Key Performance Indicators

• KPIs Financial Management

Roles within Financial Management (ITIL V3)

• Financial Manager (Process Owner)

Related ITIL Glossary Terms

• Budget Request
• Budget Allocation
• Cost Data for Service Provisioning
• Financial Analysis
• Financial Data Categories
• Indirect Cost Allocation Table
• Invoice
• IT Budget