Proposed paper covers the objectives and
role of a Financial Management in ITIL framework to govern the IT services
effectively. Proper allocation of Finance, Budget, Resources are critical
factors contributing towards the profit of any IT service organization. For IT Services
Organization to operate with highest ROI, it is crucial to finalizing the
budget, or the cost factor required to deliver the services i.e. to analyze the
funding required. Once the funding is decided, the resource allocation to
deliver the best as per industry standard is a must for which the financial
management plays a vital role. Comprehensive and the most accurate cost
analysis of these factors to avoid the financial risks, as well as, the change
in the IT services due to evolving technologies, financial management is very crucial
to the overall success. This paper further discusses the sub-processes that are
being part of the Financial Management and their overall impact on service
delivery to the end customer in the most economical way.


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