IT Financial Management
Improve your financials by tracking usage & compliance costs in SmartTrack.
Companies face great challenges trying to control their software costs and service charges. But as the demand for software grows, you need a complete, company-wide view of the finances required for license usage and compliance.
SmartTrack’s Financial Management extension provides fast, accurate answers to your software spend and budget planning questions.
Discover the business value of licenses
Financial Management is all about transparency. It shows the business value of your License Management activities, from fairly allocating software costs to enabling reliable budget planning. Great features for precise financial data include:
Break down your costs from many views, such as: publisher, product, organizational unit, time, project, and cost/profit model.
|Service charge formulas|
Specially designed features map your software usage to software costs in order to define clear formulas for service charges.
|Flexible, customized reporting||Integrated reports explain important IT figures, such as: costs per fiscal year, savings from reusing licenses, and estimated costs for new licenses.|
|Built-in update of metrics||Regular updates take a global view, such as: currency exchange rates, tax and depreciation rules for accounting, and local product reference prices.|
|Integrate for IT overview||Easy integration with your spend management or ERP system provides valuable data to overall IT Financial Management processes.|
Simplify planning, improve forecasting accuracy
The Financial Management tool classifies all software expenses by type and budget to simplify planning. Payments can be matched up to their corresponding positions in the expense plan, while precise reference prices support accurate spend forecasting.
The built-in Price Assistant intelligently generates reference prices using your complete license procurement history. It builds clear formulas with the data from SmartTrack and price lists from the Master Catalog. These formulas are extremely valuable for evaluating common compliance challenges (such as under-licensing), forecasting budgets, and assessing savings.
Fully and fairly account for company-wide charges
The Financial tool has features that are specifically designed to untangle the complexities of internal service charges. Your company needs a certain level of centralization for portfolio management and enterprise software agreements. This brings the challenges of allocating total software spend fairly across the enterprise users.
With access to SmartTrack’s license and software usage data, Financial Management calculates service charge costs on a very granular level, such as by user, device, installation or number of present licenses. Its unmatched transparency and focus on your true consumption of software help ensure widespread acceptance of internal charging methods.