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FMDB - the Financial Management Database for ServiceNow

Unlock financial clarity with Nicus FMDB, a family of native ServiceNow apps that deliver actionable financial insights into ServiceNow workflow.

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Empower Strategic Decisions with Unified Financial Insights

Very few organizations have complete, accurate finance approved financial data in their ServiceNow instance. For example, indirect costs such as internal and external labor are missing. Typically, this lack of accurate data leads to misalignment between IT, finance and business leaders. What’s more, stakeholders are forced to make suboptimal decisions on technology investment, cost reduction and optimization because they don’t have a complete picture of costs or value delivered.

FMDB provides a centralized, single source of truth for financial data in ServiceNow that can be leveraged across ServiceNow applications. FMDB imports, validates and transforms approved financial and operational data to calculate valuable financial metrics. Improve decision-making, get to value faster, eliminate manual data entry and align IT and finance with Nicus FMDB for ServiceNow.

Improved Decision Making

High-value financial insights embedded directly within ServiceNow empower leaders to quickly assess cost implications and opportunities. Organizations can confidently make strategic investment decisions, optimize resources, and improve overall financial outcomes.

Quickly identify cost-saving opportunities and redirect resources effectively
Enable data-driven decisions on strategic investments like cloud migrations and AI initiatives
Clearly map IT costs to tangible business outcomes
Uncover underutilized resources to optimize spending

Faster Time to Value

Accelerate the realization of benefits from ServiceNow by automating the integration and validation of financial data. Stakeholders gain immediate access to vital financial insights, reducing delays and enhancing productivity.

Enhance stakeholder visibility into the value delivered by IT expenditures
Streamline and automate financial data collection and validation
Eliminate manual processes to free resources for strategic tasks
Leverage internal ServiceNow expertise for rapid adoption

Nicus Software’s FMDB extends our reach well beyond where we can go alone and represents the legacy and goals of the Now Platform.

Erica Volini, executive vice president, worldwide industries, partners, and go-to-market, ServiceNow

IT and Finance Alignment

Bridge the gap between IT and finance with precise drill-down financial data mapped directly back to finance systems. Achieve consistency and clarity, enabling confident, collaborative financial planning and strategic execution.

Create a single source of truth combining CFO-approved financial data and IT operational metrics
Reconcile financial discrepancies quickly with drill-down capabilities linked to the book of record
Identify redundant or under-performing investments for optimized spending
Quantify ROI clearly to demonstrate value across the organization

Ensure Immediate Success with Guided Implementation

Accelerate your implementation with expert guidance designed to deliver rapid results. Utilize proven processes and structured tools to quickly realize the value of your FMDB investment.

Go live rapidly using predefined implementation templates and tools
Benefit from scheduled consultations that support every implementation phase
Achieve measurable results and ROI within weeks, not months

Future-Proof Your Financial Management

Continuously evolve your financial management practices in alignment with your strategic objectives. FMDB on ServiceNow ensures adaptability, allowing your organization to stay agile and responsive to future challenges and opportunities.

Seamlessly adapt financial models as your business needs evolve
Continually enhance insights through native integrations with emerging ServiceNow innovations
Stay ahead of technology trends by embedding agile financial practices into daily workflows

Benefits

Visibility

Granular insight linking financial and operational data

Alignment

Precise financial intelligence aligned with strategic priorities

Efficiency

Automated financial processes reduce manual labor and errors

Tailored Financial Insights for ServiceNow Workflows

The foundational Nicus FMDB product comprises unified data tables and capabilities, consistently available across the ServiceNow platform. Recognizing that each ServiceNow workflow has unique financial data requirements, FMDB products are specifically tailored to allocate financial costs and insights in contextually relevant ways.

FMDB for Enterprise Architecture

Enables enterprise architects to make informed, strategic decisions by clearly mapping IT spend to enterprise capabilities, identifying optimization opportunities, and driving digital transformation.

FMDB for IT Asset Management

Provides asset managers with detailed financial insights, enabling effective management and optimization of IT assets throughout their lifecycle for improved financial outcomes.

How It Works

For each workflow-specific product, FMDB works in a similar process

Import and map costs and other relevant data sources
Configure rules for cost allocations
Run the FMDB cost allocation
Push financial insights to ServiceNow workflows for stakeholder consumption

Capabilities

Import and map IT costs from the general ledger and other data sources
Data import templates
Out-of-the-box cost models for ServiceNow workflows
Unified financial data tables
Configurable rules for direct cost allocations, cloud costs and labor rates
Calculates high-value financial insights such as unit rates and TCO
Automated data validation and tagging
Captures internal and external labor costs
Pushes financial insights directly into ServiceNow workflows and dashboards
Drill down data to backup financial insights

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