DataVelocity(TM) Debuts Enhanced IT Portfolio; Newest Project Management Module Now Correlates IT Expenses with General Ledger Codes for Reimbursement.WEST PATTERSON, N.J. -- DataVelocity(TM), a leading provider of managed IT risk reduction services, today announced it has enhanced its fifth and most recent module to its flagship Erudition er·u·di·tion n. Deep, extensive learning. See Synonyms at knowledge. Erudition of editors—Hare. Noun 1. (TM) risk reduction suite, giving IT departments the ability to track departmental expenses and correlate them with general ledger General Ledger A company's accounting records. This formal ledger contains all the financial accounts and statements of a business. Notes: The ledger uses two columns: one records debits, the other has offsetting credits. (GL) codes for reimbursement Reimbursement Payment made to someone for out-of-pocket expenses has incurred. . Portfolio correlates and ranks potential IT projects to the organization's larger business goals and improves the planning and execution of projects through an array of powerful staff allocation tools. The new functionality gives CFOs and Accounting Departments for the first time the ability to input mappings of GL codes that flow naturally with actual projects, said Adam Warshaw, president of DataVelocity(TM). "Too often, project bill-back does not correlate with a specific project," Warshaw said. "This mapping allows you to run a report and say definitively, 'We know exactly why we're footing this bill, and we can provide a detailed printout (PRINTer OUTput) Same as hard copy. if necessary.' Instead of having two dysfunctional dys·func·tion also dis·func·tion n. Abnormal or impaired functioning, especially of a bodily system or social group. dys·func systems and someone doing guesstimates, project costs are automatically presented for bill-back. Now, IT can stop being viewed as a cost center." The enhanced product is set for rollout on June 27, the first day of the C3 Expo in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. . Portfolio is the latest addition to Erudition's existing modules -- Navigate, Request, Analyze and Report -- helping to create a total management solution for optimizing IT within the modern enterprise. It enhances Erudition's capabilities by elevating and justifying the selection of IT projects for business departments while prioritizing the sponsored goals for the IT staff. Unlike other project management tools, Portfolio ties possible system improvements to the enterprise's most critical and broadly defined business objectives. Instead of just managing tasks, Portfolio focuses on staff and interacts at all levels; prioritizing work, collecting progress updates, providing adjusted timelines to managers, and continuously evaluating projects against senior management business objectives to determine their viability. About DataVelocity(TM): DataVelocity(TM) is the IT industry's most trusted provider of IT risk management solutions. Using an MSP (1) (Management Service Provider or Managed Service Provider) An organization that manages a customer's computer systems and networks which are either located on the customer's premises or at a third-party datacenter. (Managed Service Provider) model, the company helps companies maximize its technology assets via its flagship service, Erudition(TM), comprised of five independent, yet integrated modules that can be applied on an ala carte basis. DataVelocity(TM) services are used by many mid-to-large corporations in the U.S. and beyond, providing hundreds of thousands of dollars of protection at a small fraction of the price. The privately-owned company is based in West Paterson, New Jersey West Paterson is a borough in Passaic County, New Jersey, United States. As of the United States 2000 Census, the borough population was 10,987. West Paterson was formed as a borough by an Act of the New Jersey Legislature on March 25, 1914, from portions of Little Falls . To learn more, visit http://www.datavelocity.com. |
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