BMC Financial Planning and Budgeting is the first solution of its kind to specifically address the unique financial planning and budgeting needs of IT. By centralizing IT budgeting and planning as part of an integrated IT management process, BMC Financial Planning and Budgeting enables IT managers and IT finance staff to focus more on strategic analyses and decision-making and less on data entry.
The IT budgeting process is typically a siloed, time-consuming process. It begins with labor-intensive data collection, drawing together data from a variety of point systems and spreadsheets. It is then followed by a manual exercise of rolling up costs in a plethora of spreadsheets (in coordination with tens to hundreds of cost center owners). Finally, it is pushed to corporate financial systems.
Although this process can help to establish a budget, because information is isolated and lacks IT context, the data and effort cannot be further utilized by IT planning and management activities, such as investment planning, tracking “actual” against budget, or analyzing the impact of business shifts on IT spending. Furthermore, this planning cycle can take months and is often unresponsive.
BMC Financial Planning and Budgeting provides a complete environment for IT financial planning and budgeting that enables key cost planning information to be centralized and maintained on an ongoing basis, enabling IT managers and IT finance staff to focus more on strategic analyses and decision-making and less on data entry. Unlike corporate finance planning tools, BMC Financial Planning and Budgeting allows IT leadership and managers to inventory, budget, and forecast from the perspective of IT resources, activities, and associated costs — spanning both project and operational efforts. The solution works seamlessly with other BMC solutions, such as BMC Demand and Resource Management for project costs, and BMC Supplier Management for costs related to IT asset and vendor-provided services. Centralizing IT financial management eliminates wasted effort and compliance risk associated with manually managing this critical information in spreadsheets.
The BMC Financial Planning and Budgeting planning scenario capability supports a wide range of IT planning and budgeting activities.