By
Eric J. Feldman

Did you know that project expenses account for a large percentage of IT costs? If you are tasked with managing IT finances, this can be a challenge. Traditional Project and Portfolio and Project Management tools only provide visibility to project costs and lack the ability to give you a holistic view across all of IT.

The true cost of delivering services can be hidden.

IT Financial Management solutions provide the detailed cost and consumption analysis to improve IT financial decision-making. This is done by aggregating all relevant IT costs at the technology, application, and services level. But ITFM alone does not give you visibility into total costs as they fail to look into project costs and the different inputs that can impact total cost of ownership.

So, what happens if your organizations take an integrated approach to ITFM and PPM? Well for starters, you can improve collaboration between finance and the PMO office to help manage IT costs.

In addition, you can improve governance and drive better transparence and visibility, as the true cost of IT can be communicated to appropriate stakeholders. ITFM and PPM together can create a single source of truth and help drive process maturity for those organizations who take an integrated approach.

So that brings us to the two important industry events where we will be speaking about the convergence of ITFM and PPM.

Upland Software is a sponsor of the Financial World of Information Technology, this week in New Orleans. Our resident expert, Robert Bracco, Director Customer Success, IT Financial Management, Technology & Telephony shared his expertise in two sessions:

• An Integrated Approach to IT Financial Management and Project Portfolio Management
• Go Beyond Cost Transparency with an Expert-Driven Approach to IT Financial Management

And next week, April 24-26, we are sponsoring IT Financial Management Week in Chicago.

If you are attending either event, be sure to stop by the Upland Software booth! Or if you would like to schedule a meeting with the onsite team, please contact us.

About Eric Feldman

Eric Feldman is the Senior Marketing Strategist for Enterprise IT Solutions at Upland Software. He has over 20 year’s experience working with IT Financial Management, IT Service Management and Project and Portfolio Management solutions.

Eric has an MBA from the LIU Post Campus of Long Island University