Over the past few years to provide the ITservices economically and with the maximum efficiency to the stakeholders or clientbecoming a very tough task.

With the evolving technologies and infrastructure,the number of corporate financial investors and related agencies are growingday by day. Due to this a rise in the expectations from the IT services tocontribute more towards the business value of the organization. To tackle sucha high expectation from the IT services and strategies made it essential to usethe best practices in the industry such as frameworks like InformationTechnology Infrastructure Libraries- ITIL. Purpose of the Financial Managementfor IT services is to assure the balanced funding options to design, implement,and deliver the services that are meeting the strategical goals of the organization1. Part of this ITIL framework includes the ITIL Financial Management whichidentifies, manages and communicates the overall cost associated with theprovision of the services, evaluation of the overall impact on serviceprovider’s budget due to the change in the IT strategies due to the client’sdemand or under any other circumstances, secure the enough funds to provide theservices and balancing the expenditure and profit ratio.