ServiceNow, which earlier this year introduced products for enabling cross-functional customer service and improving enterprise security, continues to broaden its reach into the enterprise with a solution called IT Business Management (ITBM) Suite.
The ITBM software combines elements of IT financial management, project and portfolio management and application portfolio management, resulting in what Kevin Nanney, senior director, Product Management, ITBM, calls "a command center for the CIO."
Like its customer management and security management products, ITBM leverages the workflow, automation, orchestration and systems management capabilities used in ServiceNow's flagship IT service management (ITSM) platform.
"Every IT leader can now have a vantage point over all IT resources, projects and costs to make sure they are driving the business forward," said Nanney in a statement.
Specifically, ITBM aims to help organizations avoid duplication, under-utilization and licensing compliance issues with their enterprise software. It also promises to help determine whether organizations should invest in an existing application or build/buy a new one.
According to ServiceNow, ITBM provides core information about IT applications, assets, services, projects, service levels and risk profiles, all of which are connected to a customer's configuration management database (CMDB). It links costs from the general ledger to a full inventory of IT infrastructure, applications and business services, with no point-product integrations. With access to indicators and metrics for the true cost and performance of business applications and services, leaders can better rationalize their IT investments.
Among ITBM's features is a dynamic scoring engine that IT leaders can utilize to set priorities based on business strategy and prioritize demand in a single system. Collaborative governance and funding modeling also can be built on the platform.
Oshkosh Corp., a ServiceNow customer, has established an IT business management team and has experienced "huge savings" by focusing on improving its contracts and IT purchasing processes, said Greg Downer, the company's senior IT director. "With our continued need for more visibility into our costs to identify more complex optimizations, we are looking forward to seeing the additional savings the ServiceNow ITBM suite can deliver through interaction with our general ledger and CMDB."
Other ServiceNow customers using ITBM include health care company AmerisourceBergen and financial services company Standard Life.