Cost Management

Alcor’s Cost Management solution quantifies the financial costs of IT services and assets. This customized business solution provides insight into the what, why, where and how of your spending. The solution provides both reporting and tracking of costs which in turn help you gain insight with projected business expenditure.

It’s imperative to make stakeholders and customers aware of what IT actually costs and whether the costs incurred by a business and its deliverables math it up. It’s a challenge to get a bird’s eye view of the cost of services as monetary expenses are scattered across multiple functions, which makes reporting cumbersome and unreliable.
cost-management
Alcor’s Cost Management solution with ServiceNow help businesses better understand IT costs, manage and optimize IT budgets and deliver financial transparency.

Alcor’s IT Cost Management solution leverages the single data model within ServiceNow so that all IT cost data related to assets and people are in a single system of record. Hence, organizations can use this application to manage IT service costs and gain control of IT finances. IT Cost Management takes advantage of the ServiceNow Configuration Management Database (CMDB) and a relationship hierarchy to aggregate related expenses to each service. The service configuration items then drive the key categorizations, both for capturing costs and allocating consumption. The application can take the total cost of a service and allocate a percentage back to cost centers, based on consumption.

As Alcor’s IT Cost Management is built on the ServiceNow Service Automation Platform, customers can make more informed decisions leading to cost reductions and further efficiencies.