ServiceNow ITBM and Why You Need It for Effective Business Management

March 22, 2021

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N Priya Saravanan

Senior Technical Lead - vServe24/7

With every passing year, business leaders are putting in more effort to streamline workflows and work efficiencies to increase revenue and enhance service quality. Research conducted by the Project Management Institute in 2018 reveals that 9.9% of every dollar invested in business projects is wasted because of poor project performance.

To overcome project management challenges, companies around the world have started looking for ways to improve business outcomes, streamline product delivery, and preplan uncertainties, which has eventually led them to structured IT Business Management solutions.

What is IT Business Management (ITBM)?

Information Technology Business Management (ITBM) is a set of tools and solutions that align your work and IT investment with business processes to strategically achieve your end goals. ITBM helps your business to focus more on innovation by modifying the delivery of new products and services in a fast and efficient way.

ServiceNow ITBM & the value it delivers to your business

How ITBM helps businesses?

Companies deploying structured ITBM workflows and systems have been found to achieve measurable business outcomes. A study by the Project Management Institute reveals that companies with mature ITBM processes had a 92% project success rate in comparison to 32% for companies with legacy processes.

ITBM platforms have countless applications for organizations, catering to a large variety of business models and addressing key challenges of IT such as

  • Costs incurred in developing, managing, and administering IT for the business not being proportional to the value-added
  • Adding maximum value to the business
  • Projecting ROI
  • Unifying disparate systems
  • Delivering exceptional customer service

Why choose ServiceNow ITBM for your business?

ServiceNow is one of the most adaptable business and employee management software platforms available today. With a huge number of workflow solutions, the ServiceNow ITBM package helps businesses in aligning business services, fast-tracking service delivery, and offering wide-ranging financial visibility.

ServiceNow ITBM solutions

Project Portfolio Management

ServiceNow Project Portfolio Management, also known as Strategic Portfolio Management, provides a platform from where you can manage all your investments, resources, services, and projects in a way that aligns with the key organizational objectives. By leveraging ServiceNow PPM, you can organize your project management modules to successfully cut costs and maximize operational efficiency.

Agile Development

Looking to manage your Agile software development more efficiently? Switch to ServiceNow Agile Development and leverage the benefits of ServiceNow Agile Project Management services. Track and manage all your project work-cycles in one go using an innovative program board, interactive dashboards, and flexible backlog tracking.

Application Portfolio Management (APM)

Use ServiceNow Application Portfolio Management (APM) to upgrade applications as per your technology needs and reduce unnecessary costs. ServiceNow APM offers detailed insights into applications that eventually help you to make the right decisions based on your organization’s needs. With the right partner for implementation, you can cut down resource usage costs on redundant applications and instead use them on applications that add real value to your business.

IT Financial Management

Financial management has always been a major challenge due to its heavy dependence on traditional technologies like spreadsheets to track and manage budget data. With ServiceNow Financial Management and specialized domain experts & architects, managing your financial planning will be a lot easier. For multiple use cases, you will now have the option of different budget models relevant to your business. Allocate, track, and manage your budget needs with ServiceNow Financial Management.

IT Demand Management

To make informed investment decisions about new product/service requests and to improve the existing ones, you need an effective IT Demand Management tool. ServiceNow Demand Management helps you centralize your business and IT requests so that you can forecast demands for products and services accurately based on the evolving market trends.

Project Resource Management

Legacy resource management has its limitations, and a business cannot thrive in the current market with those limitations. ServiceNow’s Project Resource Management solution simplifies and makes your organizational workflow more efficient. Leveraging the ServiceNow Resource Management application, you can identify and enhance resource under/overutilization, resource distribution, and also make staffing budget forecasts and decisions with accurate data at your disposal.

Your ServiceNow partner makes it easier

To get the best out of your business in this fast-paced and modern world, you need to collaborate with an experienced and certified ServiceNow partner. As a ServiceNow Premier Partner, Nous Infosystems collaborates with organizations to maximize benefits. In the years of working with the finest organizations, our ServiceNow experts have helped organizations to leverage ServiceNow and achieve maximum ROI.

With a knowledgeable and professional team at Nous Infosystems, you will gain insights into every little detail of the implementation based on your needs. You can choose from multiple options like ServiceNow ITBM implementation, ServiceNow PPM implementation, ServiceNow ITBM comprehensive training, and hands-on learning workshops so your business and employees stay up-to-date on all ServiceNow features and leverage the ServiceNow platform as your organization’s requirements evolve. Let us help you get started with ServiceNow today!

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