Before understanding the ITIL financial management solution and ITIL financial management system, it's important to know what ITIL financial management is. ITIL stands for Information Technology Infrastructure Library and provides guidelines for aligning IT services with business needs. The financial management part of ITIL focuses on managing an organization's IT financial resources to ensure that the cost of IT services is clear and well-managed. Before understanding the ITIL financial management solution and ITIL financial management system, it's important to know what ITIL financial management is. ITIL stands for Information Technology Infrastructure Library and provides guidelines for aligning IT services with business needs. The financial management part of ITIL focuses on managing an organization's IT financial resources to ensure that the cost of IT services is clear and well-managed. Before understanding the ITIL financial management solution and ITIL financial management system, it's important to know what ITIL financial management is. ITIL stands for Information Technology Infrastructure Library and provides guidelines for aligning IT services with business needs. The financial management part of ITIL focuses on managing an organization's IT financial resources to ensure that the cost of IT services is clear and well-managed.