- My View
Mature Service Management means tracking the cost, risk, quality and demand for services. The ITFM Module ( Financial Management) that was recently added to ServiceNow gives companies the ability to model and calculate Service Costs directly in ServiceNow. In this session we will share how to do the basic configuration, bucketing, allocation of costs to report your service costs with the out of the box reports.
Nan Braun is the CEO of Thavron Solutions, a Business Service consulting and technology solutions company. Before helping other companies on their maturity journey, she spent a dozen years at GM and then Delphi in Information Technology, defining IT services and how to manage their service lifecycle. She and her team have assisted Fortune 500 companies in the areas of Media/Entertainment, Utilities, Bio/Pharma, Pharmaceutical Distribution, Retail, Manufacturing, Finance/Insurance and Healthcare in maturing their Service Models and the underlying data that support them. The work Thavron has completed with companies has resulted in direct cost savings as well as the ability to make data driven decisions that align Information Services with business needs.
Watch the demo below that was presented on June 7, 2016, 10am PT
And Please Let our Expert Know how they've helped! Comment Below!
Like, Share, Mark Helpful.
First... The screen is very difficult to view for me. The window can not be expanded and while I can see your screen, it is a small blur.
Can you explain how integration with other financial or cost management system like Applie is required or desired. In other words, what features might not be available with native SN capabilities and what can be achieved with other systems.
Also, can you describe any lessons learned or tips on integration with external systems.
I have not had time to review the recording that gets made to see if it is any better, but I am glad to set up a webex to talk with you and your team directly. Please follow up with me privately ( email@example.com) to set something up.
Let me see if I can tackle some of your other questions:
1. Integration with other financial or cost management systems:
a)I am not familiar with Applie, so a link to that will help me answer your questions more specifically. On the off chance that you meant Apptio, then I would note that there is a class of software in the market ( SN FM module, Apptio, etc..that fill the same role and would be viewed as competitors. Again, I would be glad to schedule a call to talk through/review the market profile and how to make that decision.
b) there will be other financial systems you will be doing integrations ( or at least importing data from). You will want to import data from your general ledger. This is not meant to replace that system. This may be SAP or some other ERP. You may budget or plan data from your corporate planning system ( Hyperion, LongView, etc..). If you do not have a corporate planning system and are doing your IT planning in excel only then it is worth looking at the IT Planning piece of the module, which we did not address in this session- this was strictly about Service costing.
2) Tips on integration: this is really no different than any other enterprise data integration. Make sure you have thought out your data mapping for the ETL process carefully and if you are integrating multiple systems ( multiple general ledger instances for example) be sure you have added in any custom data fields you need to keep the right level of granularity. While the SN data transform is fully capable of handling formatting, field mapping, etc. we like to encourage clients that if they have solid corporate ETL teams and tools already in place, they should own that critical business logic in their own systems.
I hope this helps, please let me know if you need further information,
Hi Nancy - Thank you for sharing the video. I have some questions that I hope you will be able to advise on.
With regards to importing of General Ledger, is this mandatory that data must be imported and go through Staged -> Cleanse -> Groomed before they can be used?
Is there alternative to populating the General Ledger if one does not want to import the data from any external source?
The scenario here is that we want all expenses will be generated/created (e.g. expenses generated from expense lines) in ServiceNow. Would this work? Imagine there is currently no "real" GL data elseweher and rather than create one in excel and then import, it will be best to do directly in SN.
We will use the Financial planning application for budgeting piece.
Hello Larry, sorry if you are having viewing issues -
Here's something that might help - click to view on youtube (via the Share icon) and change the setting > quality viewing to 720HD
Community Engagement Manager
What are all the modules that need to be used to have a complete picture and where are those base costs input?
Base costs ( the financial actuals from your General Ledger) are mapped via a standard ServiceNow data transform map to the General Ledger staged table
You can get a picture of your costs with only the FM ( cost transparency) module. If you already have your infrastructure and application data in the SN CMDB module, you can integrate with that. If you have a different CMDB, you can import that data into a custom table for allocations.
Do you have a good sense of the base data types you need for detailed cost transparency?
Can you share examples of integration of external CMDB (storage, network, servers data) and what all tables you need to configure or import the data to in ServiceNow, in order to enable creation of weighted metrics?
Yes, thank you.
Another question. I found out that the Opex/Capex functionality in the console is ootb in Helskinki. To report on in Geneva, I believe one can just add an 'expense type' as a column in G/L data and apply a transform logic to categorize data weather it is an Opex or Capex. Would that enable one to report on Capex/Opex for Budget ?
I am using a Helskinki instance to try and set up our IT Finances. We are working on upgrading our server to Helskinki, but that process is not complete yet. So, for now I am using an instance. I have imported our GL data and can see it in the Gneral Ledger-Cleansed Expenses section. I followed the IT Financial Mgmt 101 lab from Knowledge 16 and your video to import the data. When I click on the cost transparancy-workbench, I get the message "No Data Loaded". Can you please help? I do not know what I am doing wrong.
Sorry for the delay in response. Have you sorted this out or is it still an issue? We have seen this if any of the required fields are missing. Most commonly, the posting date might have been in a bad format.
I'm a newbie when it comes to the ITFM module, but I had the same issue a while back. I found that when I set the fiscal calendar, that the issue went away. Hope that helps.
Hi: Does anyone know the links to the next 2 WebEx's to watch following this one:
Financial Management 101- Service Cost modeling in ServiceNow
We have not yet rescheduled these with the Expert - Once we do - we will come back to this thread and post the links to the next one.!
Community Engagement Manager
I noticed a live stream from Sept 8, 2016 that has not been started yet. According to the first video this would have been the third chapter.
I would enjoy seeing both the second and third chapter and hope that it can be rescheduled with the Expert soon.
Thank you David and all on this thread for your interest!
I've just contacted Nan. We will be getting the next in the series sometime in Feb or March!
We appreciate your encouragement and patience!
Click to Find More Expert Events!
Community Engagement Manager
Hi: We are in the process of implementation Financial Management - Cost Transparency application in Helsinki and would like to communicate with other organizations who are SNFM so to share notes and ideas. If you are interested, please drop me a note and we can setup a time to talk. Thank you! Rita Audi, Boston University
As David has said it would be good to see parts 2 & 3. I'd guess part 2 is more likely to happen in March now as time has moved on - has it been possible to schedule this as you had hoped?
any news on the schedule for next session with Nancy?
I was wondering why I see the message "No Data loaded" when I click on workbench. I set up the fiscal calendars. What other settings do I need to have in place to start working on workbench?
Did you try the "ITFM Guided Setup"?
I had to set up the segments, GL accounts, data sources, and staged table settings before I could load any GL data. Then, import using the "import set - load data" and make sure you are loading into the itfm_gl_data_staged tabl