ServiceNow 101 ITBM
Information Technology Business Management (ITBM) is a set of workflows and tools for optimally developing, delivering, and managing business services through an IT-focused lens.
What Is ServiceNow IT Business Management?
Information Technology Business Management (ITBM) is a set of workflows and tools for optimally developing, delivering, and managing business services through an IT-focused lens. The goal of ITBM is to help organizations more comprehensively understand how their technology environment relates to their business goals, strategies, and needs. ITBM encompasses:
Why Businesses Need ITBM
Traditionally, organizations have used legacy business management systems and workflows to understand their overall business needs and how IT resources can optimally be used to support these needs. These systems require an organization to manually gather and analyze all of their data. Indeed, businesses often rely on a combination of emails, spreadsheets, manual integrations, and unstructured workflows.
As a result of these business management processes, organizations waste resources and get suboptimal outcomes:
By contrast, organizations that have mature, structured ITBM workflows and systems achieve measurably greater business outcomes. The Project Management Institute’s 2018 study found that:
Why Businesses Choose ServiceNow For ITBM
Strategic Portfolio Management, also known as Project Portfolio Management, is one of the key elements of mature ITBM processes. The Project Management Institute found that successful Strategic Portfolio Management has the following attributes:
In 2017, Forrester Research conducted an in-depth analysis of Strategic Portfolio Management platforms. Forrester ranked ServiceNow’s ITBM platform as a Leader in the industry; it was the first time that ServiceNow was evaluated in Forrester’s annual Strategic Portfolio Management rankings. Forrester evaluated Strategic Portfolio Management vendors against 27 criteria, focusing on their offerings, strategy, and market presence.
Quantified Benefits Of ServiceNow ITBM
ServiceNow ITBM focuses on improving the alignment of business services, accelerating service delivery, and offering comprehensive financial visibility. Forrester Research interviewed ServiceNow ITBM customers and identified the following as key benefits of ServiceNow ITBM:
ServiceNow ITBM offerings are organized into three main ITBM service packages; each service package is designed to offer specific benefits to the organization:
ServiceNow as a company implemented ServiceNow ITBM within its own enterprise to quantify the benefits of ServiceNow ITBM. As a result of fully implementing ServiceNow ITBM, the ServiceNow company reported achieving the following results:
Where ITBM And ServiceNow Are Headed
The growth of the ITBM industry has been made possible through advances in cloud computing that have enabled organizations to unify and comprehensively understand historically siloed parts of their business. The firm Grand View Research estimates that the global Project Portfolio Management market will grow into an $8.9 billion industry by 2025.
Businesses are still learning how to utilize ITBM tools for maximum effectiveness. A 2018 study in the Project Management Institute found that:
ServiceNow originally introduced its ITBM offerings in 2008 and is continuing to significantly expand them. ServiceNow has stated that it is driven to invest in ITBM because the company believes ServiceNow’s service management model, combined with ServiceNow’s intelligent automation, can optimally serve organizations seeking next-generation ITBM solutions.
ServiceNow Products
Businesses that use ServiceNow are able to rapidly achieve improved self-service capabilities for all users (both employees and customers) and elevated efficiencies in service operations.
ITSM
Information Technology Service Management
ServiceNow IT Service Management (ITSM) helps you accelerate your digital transformation by enabling services for your end-users wherever they are, whenever they need it, and from any device they have.
ITAM
Information Technology Asset Management
Information Technology Asset Management (ITAM) is a set of business practices and tools for optimally supporting lifecycle management of IT assets with the goal of ITAM helping organizations manage their hardware and software inventory more effectively.
CSM
Customer Service Management
Customer Service Management (CSM) is a set of workflows and tools for optimally overseeing and tracking all interactions with a business’s customers with the goal to comprehensively manage the customer experience (CX).
SAM
Software Asset Management
Software Asset Management (SAM) is a set of business practices and strategies for optimally managing acquisition, usage, and lifecycle maintenance of software that enables organizations to create an accurate system of record for all software assets.
HRSD
Human Resource Service Delivery
HR Service Delivery (HRSD), also known as HR Service Delivery, is a best-practices approach for automating and standardizing HR processes within your organization that enables organizations to provide engaging, holistic HR services to employees.
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