Apptio Exceeds $3B "IT Spend Under Management" Milestone.Company Experiencing Rapid Growth and, According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Independent Research Firm, Positioned to Compete in $800M IT Financial Management Market Segment BELLEVUE, Wash. -- Apptio, the market-leading provider of on-demand IT Cost Transparency software, was recently recognized by Forrester Research Forrester Research is an independent technology and market research company that provides its clients with advice about technology's impact on business and consumers. Corporate facts
Please [ improve this article] or discuss the issue on the talk page. , healthcare, retail and cloud service providers, also announced that it has crossed the milestone of $3 Billion of customers' IT budget under management in the Apptio IT Cost Transparency solution. In its "Market Overview: IT Financial Management Software" report, published May 7, 2009, Forrester Research, Inc. profiles the emerging market segment of IT Financial Management, defined as: "The discipline of planning, budgeting, monitoring and controlling the use of a firm's total IT budget (operations/maintenance and new projects/investments)." According to the report, Forrester anticipates the market "will exceed $800 million in 2013," spurred by "business users demanding greater IT cost transparency and financial analysis in order to understand the true cost of IT. They believe the transparency and analysis are critical in enabling them to intelligently manage demand for IT services and participate in cost management decisions." As IT becomes even more critical to the business and CIOs are held accountable to run IT like a business with transparency in costs (and competitive with externally available services), there is a growing need for solutions that better analyze, manage and report on IT costs and processes. The Apptio IT Cost Transparency solution integrates best practices on IT Financial Management into workflow-specific applications around IT Service Costing, Business Unit Billing and Demand Management, Service Quality and Utilization Management Utilization management is the evaluation of the appropriateness, medical need and efficiency of health care services procedures and facilities according to established criteria or guidelines and under the provisions of an applicable health benefits plan. , and Cost and Performance Benchmarking. By delivering greater visibility into their cost structures, Apptio helps IT managers make better decisions around managing IT, reducing cost and communicating the value of IT to business executives. "One central element to IT Financial Management is the ability to use activity-based costing In a business organization, Activity-based costing (ABC) is a method of allocating costs to products and services. It is generally used as a tool for planning and control. This is a necessary tool for doing value chain analysis. (ABC ABC in full American Broadcasting Co. Major U.S. television network. It began when the expanding national radio network NBC split into the separate Red and Blue networks in 1928. ) principles for cost structure modeling," wrote Thomas Mendel, Ph.D., vice president, research director at Forrester and Peter O'Neill Peter O'Neill was an Irish soccer player who played in the League of Ireland during the 1940s. O'Neill played for the Bohemian Minors (i.e. schoolboys/youth team) of the early 1940s. , vice president and principal analyst in the report. "This is essential because of the high percentage of indirect cost in IT services and projects. Without ABC, the trustworthiness of the results will be forever in doubt." Apptio has been designed from the ground up with the capabilities IT managers need for effective financial management. The first issue IT faces when trying to gain better transparency into the total cost of IT services is incorporating cost, asset and utilization data from the many different sources in which this information resides today. Apptio simplifies and automates this data collection and correlation, making it easy for companies to get started today, whatever state their data is in. The second key issue important to IT Cost Transparency is the allocation model itself. Apptio's allocation modeling is sophisticated enough to support activity-based costing or simple manual allocations, and yet flexible enough to be easily customized for individual companies. Finally, Apptio's data analytics, reporting and benchmarking functionalities take managers beyond flat service cost reports they might get from spread sheets or service catalogues to enable true decision support functionality and "What If" scenario planning Scenario planning or Scenario thinking is a strategic planning method that some organizations use to make flexible long-term plans. It is in large part an adaptation and generalization of classic methods used by military intelligence. for a true Continual Cost Optimization process. "Understanding the cost of IT services and being able to apply analytics to highlight fundamental cost drivers within a service has allowed us to identify and articulate cost savings opportunities for IT," said John Shepard, director of global IT infrastructure at Starbucks Coffee Company. "Apptio's on-demand solution is helping us make better and more informed decisions around the cost and ROI (Return On Investment) The monetary benefits derived from having spent money on developing or revising a system. In the IT world, there are more ways to compute ROI than Carter has liver pills (and for those of you who never heard of that expression, it means a lot). of our technology investments." "The need for IT Financial Management software is overwhelming. The average Fortune 1000 IT budget is in excess of $350 million, and no one should run a $350 million business without proper financial management systems," said Sunny Gupta, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and founder of Apptio. "Apptio was designed from the bottom up with CIO CIO: see American Federation of Labor and Congress of Industrial Organizations. (Chief Information Officer) The executive officer in charge of information processing in an organization. input to help IT managers run their business based on quality financial information." About Apptio Apptio is the leading provider of on-demand IT Cost Transparency solutions. Apptio's IT Cost Transparency solutions provide greater visibility into the cost, utilization and operations of IT products and services so that businesses can identify ways to reduce IT costs, make better IT decisions and provide the business with a true Bill of IT. IT organizations such as Alaska Airlines Alaska Airlines, (NYSE: ALK) is an airline based in Seattle, Washington, United States. It operates hubs at Seattle-Tacoma International Airport, Ted Stevens Anchorage International Airport, Los Angeles International Airport, and Portland International Airport. , Blue Cross Blue Shield Blue Shield A US not-for-profit health care insurer that is a reimbursement intermediary for physicians. Cf Blue Cross. of Kansas, BNP Paribas, EMD EMD Electromechanical dissociation, see there Chemical and Razorfish use Apptio's IT cost analysis capabilities to reduce cost and achieve greater visibility into their IT costs and cost drivers. Apptio is privately held, backed by Greylock Partners, Madrona Venture Group, Marc Andreessen, Ben Horowitz, Ignition Ventures and Shasta Ventures. For more information, please visit www.apptio.com. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion