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Cost Management

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Cost Management

The ServiceNow® Cost Management application tracks configuration item costs. The costs can be allocated to business units and used in reports.

The previous name of this application was Financial Management. In this release, other financial management applications are available: see Financial Management and Finance Service Automation.

Cost management enables these features:
  • Using rate cards.
  • Defining configuration item (CI) costs.
  • Tracking one-time costs for CIs.
  • Processing recurring CI costs to generate expense lines.
  • Distributing bulk costs to multiple expense line sources.
  • Tracking costs related to tasks and projects.
  • Aggregating configuration item costs and charging the total cost to a business service or application.
  • Allocating expense lines to business units with flexible allocation rules.
  • Tracking planned and actual budget costs by cost center.

Cost Management Options

Use the following cost management options to plan and control business costs.
  • Create rate cards to properly track configuration item, contract, task, and labor costs.
  • Create expense lines and expense allocation rules.
  • Aggregate configuration item costs and apply the total cost to a business service or application using relationship paths.
  • Create distribution costs and distribution cost rules to divide costs between a group of records.