Service Financial Management
Maturity Measures
Documentation
1
No formal financial documentation or policies.
2
Basic financial policies and budget documentation.
3
Comprehensive documentation including full budgeting and forecasting.
4
Dynamic documentation incorporating financial planning and reporting.
5
Fully integrated financial management documentation updated in real time.
Tools and Automation
1
Manual and fragmented financial tracking.
2
Basic financial management software for budget tracking.
3
Integrated financial tools for budgeting, forecasting, and reporting.
4
Advanced tools with automated financial processes and analytics.
5
AI-enhanced tools for predictive financial management and optimisation.
Process Integration
1
Financial management is isolated from other IT processes.
2
Basic linkage of financial management to IT projects.
3
Integrated financial management across IT and business units.
4
Processes fully aligned with strategic business objectives.
5
Seamless and agile financial processes integrated across all business services.
Training and Awareness
1
Minimal awareness of financial implications among staff.
2
Basic financial management training for relevant IT staff.
3
Regular training and updates in financial management practices.
4
Organisational-wide understanding of financial impact and strategic financial training.
5
Continuous learning culture focusing on financial optimisation and strategic alignment.
Performance Measurement
1
No financial performance measurements in place.
2
Basic tracking of IT expenditure and budget adherence.
3
Structured financial KPIs and regular performance reviews.
4
Comprehensive performance management integrating financial data analytics.
5
Predictive and real-time financial performance management with continuous updates.
Stakeholder Communication
1
Lack of communication about financial status or changes.
2
Periodic financial updates to key IT stakeholders.
3
Regular, structured financial reporting to all stakeholders.
4
Proactive financial communication integrated with business planning.
5
Strategic and real-time communication using advanced data visualisation tools.
Continuous Improvement
1
No formal process for improving financial management.
2
Occasional adjustments based on annual reviews.
3
Systematic approach to refining financial management practices.
4
Managed improvements based on performance analysis and feedback.
5
Culture of proactive financial optimisation and strategic foresight.