The 5 Processes of ITIL Service
Strategy

In a world where technology is advancing at a
rapid rate, those providing IT services must be alert and strategic when it
comes to service delivery.

 

Business owners who are able to predict the needs
of their customers and act on them can easily gain a competitive advantage over
their counterparts. This is where ITIL comes in. But what
is ITSM?

 

ITSM is an acronym for IT service management. It
can be described as best IT practices that help in aligning IT services with
your business needs. It is an approach that helps the business improve customer
relations, manage risks, create a scalable IT environment, and increase
efficiency.

 

Lifecycle
of ITIL stages

 

There are 5 stages of the ITIL service lifecycle.
They include the following:

 

●    
Service strategy

●    
Service design

●    
Service transition

●    
Service operation

●    
Continual service improvement

 

Four P’s
in the service strategy

 

There are four stages of a service strategy. They
include position, plan, perspective, and pattern. The four P’s are supposed to
serve as a guide to your strategy when it comes to outlining and implementing
your service plans.

 

●    
Perspective: It stipulates the
vision or direction that your services should take.

●    
Position: This is the stage where
you compare your strategy with that of your competitors. Doing so will help you
to know how to position yourself well in the market.

●    
Plan: A plan is that stage where
you determine the kind of actions you will take in order to attain your vision.
You should ensure that the actions you take are both realistic and practical.

●    
Pattern: These are the important
and continuous actions that your business will take for a smooth operation.
This includes things such as schedules, policies, budgets, management systems,
and processes.

 

Five ITIL
service strategy processes

 

There are basically five processes in the
lifecycle of a service strategy. They include the following:

 

1.   
Strategy management

 

The first process in the ITIL service strategy is
strategic management. The main purpose of strategic management is to ensure
that all IT services go hand in hand with the organization’s plans and
objectives.

 

There are three key things you will need to do at
this stage. They include assessment, definition, and execution of your service
offerings.

 

2.   
IT financial management

 

This stage comprises budgeting, accounting, and
pricing services in order for the company to take care of the expenses and
generate revenue from those services.

 

Accounting is an important process because it
gives you an idea of how much you are spending. The process should be conducted
by a qualified accountant for accuracy purposes.

 

3.   
Service portfolio management

 

This process helps in monitoring your services
right from the start to the finish. The main aim of SPM is to ensure that every
service is in line with your company’s objectives.

 

4.   
Demand management

 

Demand management makes it easy for businesses to
learn, predict and influence the demands of customers for IT services.

 

5.   
Business relationship management

 

This final step focuses on creating strong
relationships with clients.

 

In general, ITIL is crucial for the operation of
many businesses. It acts as the backbone of customer services through efficient
IT services.