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Financial Management release notes

Financial Management release notes

ServiceNow® Financial Management product enhancements and updates in the Kingston release.

Kingston upgrade information

The Financial Planning application is newly introduced in the Kingston release. If you are using the legacy Financial Planning and would like to upgrade to the new Financial Planning application, follow the upgrade instructions. The upgrade instructions do not apply to Project Portfolio Planning (Portfolio Budget Model) as it is automatically upgraded as part of the Kingston upgrade.

Activation information

You can activate the Financial Management (com.snc.financial_management) plugin if you have the admin role.

Browser requirements and limitations

Internet Explorer version 11 or later (including Microsoft Edge) is required to use all aspects of the workbench.

Custom grid UI pages are not supported in certain Firefox browser versions, for example 44.X.

Localization limitations

Right-to-left languages in custom UI pages are not supported. Alternatively, you can use platform lists and forms.

New in the Kingston release

New Financial Planning
Support multi-year budget planning using the new financial planning application. It is also a task-based planning, which helps in planning process automation between the finance and budget planner. You can view and edit the plan breakdowns in a grid interface.
Improved portfolio budgeting
Introduce process automation between portfolio managers and IT finance using the portfolio budget planning that has been enhanced to take advantage of the new financial planning application. In the automated process, the portfolio manager uses the portfolio workbench to promote the portfolio’s annual budget plan and the finance analyst reviews the portfolio budget plans in the ITFM planning workbench. The new workbench provides better interface for IT finance to view the portfolio budget and actuals.
Carry over fields in GL expense lines
Configure the general ledger (GL) fields that you want to carry over to GL expense lines. Carrying limited fields forward as needed for the required business purpose helps in bringing lesser GL expense lines.
Download cost model
Download the XML version of the cost model and its related entities to recreate the cost model in another instance.

Changed in this release

  • Module name changes:
    • Cost Transparency has been renamed to Financial Modeling.
    • Financial Reporting has been renamed to Financial Charging.
  • Financial Management plugin separation: The Financial Management plugin has been replaced with the following plugins:
    • Financial Planning
    • Default Cost Model
    • Financial Charging
    • Financial Management
  • Beginning with Kingston Patch 7, Financial Planning is only for Portfolio Planning.