Financial Management release notes

Financial Management product enhancements and updates in the Geneva release.

Activation information

To purchase a subscription, contact your ServiceNow account manager. After purchasing the subscription, activate the plugin within the production instance.

You can evaluate the feature on a sub-production instance without charge by requesting it from the HI Customer Service System.

New in the Geneva release

Cost models A cost model is the set of rules, methods, and metrics that tell the application how to allocate expenses to the accounts in the IT chart of accounts. You can create several cost models and choose which one you want to run the allocation engine against.
Budgets A budget provides a way to plan for costs, make forecasts, and evaluate actual expenses versus planneA budget console helps you manage budgets and forecasts. The budget variance report compares actual expenses to the budget.
Multiple currency support for budgets The items in your budget can be priced in different currencies and converted to the budget currency.