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Financial Charging

Financial Charging

Financial charging is an integral part of financial management that helps in reporting the financial aspects of a business service to the various stakeholders in the organization that consume this service such as the business unit heads, department heads, or account heads.

A business service is a set of interconnected applications and hosts configured to offer service either within or to an organization. Track the consumed business services and products offered within your organization and show the cost of the services as showback statements. The showback statement reports the services consumed in terms of their cost, for reporting to the business unit heads.

The showback statements provide consumption visibility and improve automation of the services offered. These statements also help the service owners handling the services to view the consumption data and formulate budgeting.

Showback statement reports the services consumed through the statement items that are records of the service consumption details and the cost of the service. These record details are stated as the statement items and are retrieved from various sources such as:

  • Consumption table: The cost and the consumption volumes can be from any platform table that contains the consumption data.
  • Cost model: The source of the cost data is the cost allocation lines from the financial modeling application.
  • Service catalog: The cost and consumption volumes can be based on fulfilled catalog requests for a particular service catalog category or catalog items.

What to do next

Assign roles to your users. Set up the Financial Charging application to use the showback feature.