ITFM - Governance & Process Framework Setup​

Business Problem

Without a well-defined governance model and standardized financial processes, organizations experience inconsistent reporting, slow approvals, and confusion around budget ownership. This disorganization undermines accountability and hampers any attempt at accurate forecasting.​​​

Pre-Conditions

• Organizational willingness to standardize (and possibly overhaul) existing financial processes.​
• Some baseline data about who approves IT budgets, how costs are requested, and where final accountability resides.​
• Completed or ongoing Assessment & Strategy work to highlight key governance gaps.​​​

Common Pitfalls

• Complex governance: Processes become bureaucratic and slow.​
• Siloed oversight: IT, Finance, and business units do things differently.​
• Insufficient training: Even a solid framework fails if stakeholders aren’t taught how and why to follow it.​
• Failure to adapt: Not updating governance as the organization matures or changes.​​​​​

Value Journey

• SmartStart: Identify minimal roles (budget owner, approver) -> Establish simple cost capture rules -> Document a lightweight process to unify data entry
• Walk: Map detailed workflows for budget approvals, cost allocations, and monthly/quarterly reviews -> Formalize RACI (Responsible, Accountable, Consulted, Informed) -> Ensure compliance with the broader organizational policies​​
• Run: Introduce governance for forecasting cycles (e.g., rolling forecasts, scenario approvals) -> Create cross-functional committees to review forecast accuracy and refine budgets -> Establish more complex resource/cost alignment policies​​
• Fly: Embed value management processes: measure ROI or NPV on large IT initiatives -> Adapt governance dynamically as business strategies shift ​
  -> Integrate strategic steering committees for high-level decision-making​

Service Offering

SmartStart:

• Initial Governance Identification: Basic roles for cost submission and approval ​
• Simple Process Flows: Lightweight step-by-step approach for capturing costs in ServiceNow ITFM ​
• Intro Documentation: Quick reference for staff to ensure consistent cost entry

Walk:

• Detailed Governance Model: Formal roles for budget owners, approvers, and finance oversight​
• Process Mapping: Flowcharts or BPMN diagrams for budget requests, invoice approvals, monthly/quarterly close​
• Policy & Procedure Documentation: Official guidelines for cost categorization​

Run:

• Governance for Forecast Cycles: Scheduling forecasting checkpoints, scenario reviews​
• Cross-Functional Committees: Formal committees bridging IT, Finance, and Business for integrated planning​
• Integration Governance: Policies ensuring data consistency across multiple systems

Fly:

• Value Management Processes: Governance model capturing ROI, TCO, or net value metrics ​
• Dynamic Governance Updates: Mechanisms to continuously adapt as markets or strategies evolve ​
• Steering Committee Setup: High-level oversight to link financial decisions to corporate strategy

Why Capture?

• Real-World Governance Experience: We have designed governance structures across numerous industries, avoiding the “ivory tower” trap.​
• Balancing Control & Flexibility: We know how to right-size governance so it’s robust yet agile.​
• Focus on Long-Term Scalability: Our frameworks evolve as your organization’s ITFM maturity grows, ensuring continuous relevance.​​​