| | DECEMBER - 20176CIOReviewCopyright © 2017 ValleyMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.DECEMBER - 2017Mailing AddressCIOReview44790 S. Grimmer Blvd Suite 202, Fremont, CA 94538T:510.565.7624, F:510-894-8405 DECEMBER - 2017, Vol 06 SE 144 - Published by ValleyMedia, Inc. To subscribe to CIOReviewVisit www.cioreview.com IT FINANCIAL MANAGEMENT SPECIALCIOReviewEditorial StaffSalesAaron PierceAva GarciaJessica ThomasAlex D'SouzaJade Ray SarahLauren AndersonJohn Varghesejohn@cioreview.comT: 510.924.4116VisualizersDave BrownManaging EditorJeevan GeorgeNitya SEditorial*Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staffIt was at the turn of the century that the CIOs became more than just an administrator of systems. Since then, several non-core operations have come flooding into the IT office of the organization, stipulating a need for effective management. One such responsibility involves the management and monitoring of financial aspects associated with the entire gamut of IT assets--a rather `CFO-ish' side of the CIO, known as IT Financial Management (ITFM). Initially, the focus of ITFM revolved primarily around intermittent events such as formation and assignment of capital, major expansions and overhauls, mergers, and liquidation of assets. Today, ITFM encompasses day-to-day processes, significantly fueled by consulting and `as-a-Service' models of engagement with outside vendors. It goes without saying that ITFM solutions have a significant place in helping prove the value of technological investments in the organization. The ongoing tasks associated with ITFM, although critical, are not core to the technology wing of the organization, and this has opened up opportunities in the market for a combination expertise and technology that can deal with the nuances of IT financial budgets and expenditures.Without getting into the technical complexities of different types of costs involved in IT services and assets, budgeting control, and the accounting and auditing process, it is still safe to say that ITFM solution providers have a strong foothold in both finance as well as technology. As a process which is well embedded into the internal organizational structure, a good deal of discovery is also required to provide optimized solutions--clearly a market that does not suit the one-size-fits-all approach.For CIOs who are now an active part of board room discussions, useful reports from ITFM analytics play an important role in helping drill down IT spend to the dollar. In a bid to identify the ongoing trends and challenges in the opportune ITFM market, we have compiled the thoughts of some of the leading industry experts, as well as identified key players who deliver the aforementioned value through their solutions.Let us know your thoughts.Jeevan George Managing Editoreditor@cioreview.comEvolution of ITFM
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