Everyd@y in the news

Everyd@y in the news

Most valued tips for year-end closing
 
December 24th, 2021 | For a successful financial year-end closure it’s good to consider some IT specific items. Last week we already offered our first blog with tips and considerations that will help you to be compliant to your accounting framework. Today we continue!
 

Closing the financial books of your IT department

Part 2

Last minute hardware purchases

Check if any last minute hardware purchases trigger additional software contracts that are based on hardware metrics.
 

Cyberattacks

In case you were recently hit by a ransomware or other cyberattack, check if you have all accruals in place to cover for the damage done.
 

Asset Valuation

Check for unused or idle IT capacity that you might need to (partially) impair.
 

Vendor Commitments

Check your mid/long term commitments to vendors and see if your spend is on track. If this is not the case, you might need to impair.
 

Split Contracts

Some investments contain both hardware and software. Be sure to split them accordingly towards the company financial statements.
 

Happy holidays!


This is the second post with some of our most valued tips for year-end closing. We posted our first one last week!

Please keep in mind that year-end checks are less cumbersome if you perform them regularly throughout the year! We suggest using our Connect Business Value and Optimise Investments services.

You will be more precise and have less surprise at the end of the year, saving you precious time in the process. And let’s be honest, who would argue with that during the festive season?
 
Have a question or in need of a hand with year-end closing?
 
Contact us!
Most valued tips for year-end closing
 
December 17th, 2021 | For a successful financial year-end closure it’s good to consider some IT specific items. Value Tech Everyday offers top tips and considerations that will help you to be compliant to your accounting framework.
 

Closing the financial books of your IT department

Part 1

Optimize your EBITDA

The board and shareholders will be delighted if you bring them an opportunity to improve your companies EBITDA. Check your cloud invoices. Most of them will have to be booked as Opex, but check if the contract contain Capex elements. If so, you'll have to book them as Capex.

This creates a Win-Win: You'll be compliant to IFRS and improve your EBITDA in one go.

If you need support, just contact us.
 

Check Software Portals

Check the software portals you have with your suppliers. You might find used licenses that aren’t reflected in the accruals yet. You might also be surprised by the number of portals available in your organization that can trigger financial impact. It’s good to list and manage them periodically.
 

Free Licenses

Anticipate to licenses that are currently free of charge but at some point are priced by the vendor. A Google Vault license was such an example we experienced last year.
 

SaaS Licenses

Many companies have a relaxed attitude towards SaaS licenses, because you're never under-licensed. Still, that doesn't make the opposite also true: We encounter companies that have more SaaS licenses than they really use and also companies with too expensive licenses (higher license tier than required).
 

Accruals

Check if you have more deployments of software than you have contracted. Record them as accruals.
 

FX Risk

Check any FX risks on IT contracts that are denominated in a currency other than the domestic currency of your company.
 
This is the first post with some of our most valued tips for year-end closing. We will post another one next week!
 
Have a question or in need of a hand with year-end closing?
 
Contact us!
Steps to IT Financial Management
 
Efficient and effective IT Financial Management is a challenge, even for the most experienced CIOs. Finding the right tool for managing your IT budget is just the first of many steps on the way to increased transparency, stakeholder acceptance and greater benefit. Ensuring the success of an ITFM venture requires more steps. The Gartner study “7 Steps that Drive IT Financial Management Tool Success” gives you valuable insights into how your company can achieve the best results with your ITFM tool.
 
Value Tech Everyday delivers IT Finance expertise to help you do more IT within a smaller budget! Many businesses are faced with the challenge of doing more with a reduced IT budget. Value Tech Everyday offers a suite of services for finance and IT management to support them in getting the job done.
 
We support our clients in taking the right steps:
  • Identifying IT cost drivers
  • Managing costs
  • Differentiating between short- and long-term needs
  • Taking the interests of stakeholders into account
  • Creating added value
  • Proactively planning and avoiding future cost allocation issues
 

Steps to IT Financial Management

USU is a leading European provider of software and services for IT and customer service management and offers an ITFM solution based on IT Services as defined in the ITIL framework.

If you are interested in the Gartner study “7 Steps to IT Financial Management tool success”, you can download it from the USU website following this link.
 
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Need to get more out of IT for less?
 

Need to get more out of IT for less?

October 1, 2021 | 60% of businesses expect IT budgets to shrink or stay the same over the next 12 months. In many companies, the IT budget can’t keep up with the growing need while at the same time it’s unclear if the money is well spent.

Value Tech Everyday helps you get the best value for your IT budget!

SME or corporate? Talk to us and learn how to get the most from your IT budget.
IT spend will grow to 3700 Billion next year
 

IT spend will grow to 3700 Billion next year

September 28, 2021 | IT financial transparency is more than understanding where you spend your Euros in IT.

Equally important is to understand how your IT investments are serving your business strategy. In case growth is the goal, be sure to invest in scalable IT. In case your company wants to operate at the lowest possible costs, be sure to stay away from bleeding edge technology and don't deploy multiple instances of the same functionality.

Question is how to align this on a daily basis?

We can support you with simple, effective and easy implementable solutions.

Interested? Leave a message here.
Improve your EBITDA with € 1M+
 

Improve your EBITDA with € 1M+

September 3, 2021 | Improve your EBITDA with the professional support of Vincent Hagedoorn and Dick Kleijn.

Let us check your IT contracts and we will improve your EBITDA with at least € 1M.

Interested? Leave your contact details here.