Get Strategic: Leveraging the ServiceNow SPM to Help Your Business
The ServiceNow SPM (Strategic Portfolio Management) suite of applications, when used to their full potential, can take your organization to the next level and optimize your IT.
SPM can help identify, evaluate, and even prioritize your goals and initiatives based on your needs. Utilize SPM correctly, and you can organize your projects based on strategic importance, business objectives, and by their impact.
Why ServiceNow?
Organizations around the world utilize ServiceNow to improve efficiency and productivity, enhance visibility and control, improve communication and collaboration, find better IT governance, and optimize the management of their IT services. The flexibility of the Now Platform and its ability to integrate with other tools in an organization make it one of the most powerful tools for an organization of any size.
CDI is an Elite-Level ServiceNow partner with over 20 years of IT support and services experience. Whether you need help with your current ServiceNow implementation or are ready to get started, reach out to our experts to improve the management of your IT and to start meeting your business objectives.
Dive Deeper into ServiceNow: NOW with CDI
Join the experts from CDI as we take a deep dive into all things ServiceNow! Each month, our team will be rolling out a new webinar designed to help you reach your full potential and optimize your NOW Platform investment. Next up: Root Cause Analysis leveraging SPM.
Join us for a live webinar on Jan. 27, 2023, to see how the ServiceNow SPM can help you perform a proper Root Cause Analysis
What are the benefits of the ServiceNow SPM?
Well… there are many! But one of the main features of SPM is the opportunity to create a single source of truth for your project and related data. Yes, it is possible.
Easily access and analyze data on your IT initiatives, resources, and dependencies across your business. With the help of SPM, you can create a central view of your IT portfolio, leading you to easily identify areas where you are over-allocated and where you need to start allocating more resources.
One of the more important benefits of SPM is being able to prioritize IT initiative based on their strategic importance. With this, organizations have been able to better align their projects with their overall business objectives. This feature is arguably the most important, as it enables you to invest adequate resources into the initiatives with the greatest impact on your business.
Okay, but here is the part you make like the most: cost savings.
The Strategic Portfolio Management suite includes tools for evaluating potential financial impacts of initiatives (i.e., cost-benefit analysis) and helps you make more informed decisions when determining what projects you should pursue.
Beyond helping manage your IT portfolio, SPM supports the end-to-end management of IT projects. SPM brings together project planning, resource management, and project tracking all in to one. The project management capabilities enable you to deliver projects on time (and within budget). In short, it can improve the overall performance of your entire IT department.
Lastly, one important aspect of SPM is how easy it is to integrate with other ServiceNow modules as well as many other tools and solutions within your organization. Leverage your ServiceNow investment alongside your entire stack of solutions in order to improve your entire IT posture.
ServiceNow SPM vs. PPM: What’s the difference?
This is a common question, but they’re both kind of the same. ServiceNow Strategic Portfolio Management (SPM) and Project and Portfolio Management (PPM) are both tools that are designed to help organizations manage and optimize their IT portfolio, and the PPM is itself an application within the SPM module.
However, there are some key differences between the two:
- SPM is a comprehensive suite offering capabilities to optimize and manage your IT portfolio. It can be used to create a central view of your portfolio, prioritize of initiatives based on importance, and includes financial impact analysis. SPM also includes IT Governance and integration capabilities with other ServiceNow products.
- PPM tools are mainly focused on project management and resource management within a portfolio. PPM tools are more specialized in managing projects while providing a level of portfolio visualization and metrics. PPM is overall less extensive than a full SPM tool.
Summary
Overall, ServiceNow’s Strategic Portfolio Management suite of applications is a powerful tool that can provide you immediate help to optimize your IT portfolio, align with business objectives, and improve the performance of your department. SPM can provide a single source of truth for data, allows you to prioritize IT initiatives, and evaluate the financial impact of your projects.
The ability to integrate SPM with other tools in your organization means it can add value to your existing investments in ServiceNow and across your IT.