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Impact of ServiceNow’s ITBM on Major IT Challenges

How ServiceNow’s ITBM Eliminates IT Challenges? 

The main objective of IT Business Management (ITBM) is to assist organizations in leveraging technology to achieve business goals. 

The scope of ITBM includes: 

  • Strategic Portfolio Management 
  • Resource Management 
  • Risk Management 
  • Change Management 
  • Application Portfolio Management 
  • Finance Management 
  • Business Operation Management 

In a nutshell, ServiceNow ITBM offers assistance to solve IT challenges and scale-up digital transformation. 

What are the Most Common IT Challenges?

The prowess of the IT department is often one of the primary contributors to a company’s success. A seamless IT environment is what every organization aims for. However, the IT team faces a lot of challenges. 

Here are some common challenges faced by IT teams: 

  • Higher recurring cost incurred in IT management and administration. 
  • Difficult to figure project cost and ROI.
  • Perceive value to the organization from different departments.

How ITBM Helps in Mitigating Major IT Challenges? 

An in-depth ITBM strategy coupled with a business-focused approach can drive success. 

By shifting to ITBM, IT departments can achieve the following: 

  1. Determine the value of IT and convey it to business executives.
  2. Seamless IT Management and enhance IT performance. 
  3. Improve decision-making scope and capabilities. 
  4. Lower operation costs.

ServiceNow ITBM helps in connecting IT cost with ROI and also helps in managing IT expenses. It also helps an organization to get a comprehensive insight into IT proceedings. Furthermore, it helps businesses to manage demand and resources in a better way.

It further helps the IT team to decode the following: 

  1. How to streamline workflow?
  2. Gain proper financial visibility
  3. Align IT investments with long-term and short-term business objectives 

Useful ITBM Applications 

ServiceNow ITBM provides a wide range of applications to enhance business processes. 

  • Demand Management – It helps to organize operational and strategic demands to capture application.  
  • Project Management – This application helps to create resource plans and analyze resource utilization and productivity. 
  • Test Management – It helps to provide appropriate tool for software testing carried manually. 
  • Financial Planning – This application helps in the management of budget-related tasks.

Conclusion 

Ranging from resource utilization to financial planning, ITBM helps to boost IT processes. To leverage ITBM, an organization needs a robust strategy and this is exactly where professional assistance is required. 

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