JPMorgan Chase Inducts Apptio Into Hall of Innovation
Leading Provider of Technology Business Management Software Recognized for Disruptive Technology Innovation and Business Impact of its Solution
Seattle, Wash. - October 6, 2010 - Apptio, the leading provider of on-demand Technology Business Management (TBM) solutions, today announced that it has been inducted into the JPMorgan Chase Hall of Innovation. Apptio was recognized by the IT executive team at JPMorgan Chase (NYSE: JPM) for the impact its solution has made on the business, the disruptive and differentiated nature of its innovative technology, and its partnership with the company to successfully achieve business goals. Apptio was honored with the award based on the role its TBM software had in transforming IT operations at JPMorgan Chase into a "Business as a Service Model.' Apptio was honored at the J.P. Morgan Technology Innovation Symposium on Tuesday, October 5, 2010 in Menlo Park, California alongside Atlantis Computing and Cloudera.
"Apptio is an outstanding example of a technology solution that has delivered incredible business results to the firm," said Peter Ahrens, Managing Director and Chief Technology Officer, JPMorgan Chase. "We evaluated many companies known for their innovation and their ability to positively impact business. Apptio stood out in terms of product differentiation, disruptive technology and ability to deliver value."
Apptio's solution was designed from the ground up to help today's IT leaders transform their operations into service-based organizations. Apptio's Technology Business Management solution enables JPMorgan Chase to manage the supply chain of IT and communicate the cost, quality and value of its IT services. Apptio provides a complete system of record for both IT financial and operational data, data analytics to drive real-time decision support, and IT-specific applications to automate and streamline IT-business processes. Using Apptio, IT leaders at JPMorgan Chase can communicate the cost and value of IT services to the business, strategically align the planning process around IT services, and drive cost optimization decisions.
"Induction into the JPMorgan Chase Hall of Fame is an extraordinary accomplishment given the caliber of the nominees and J.P. Morgan's focus on technology excellence," said Sunny Gupta, co-founder, president and CEO of Apptio. "This elite award validates how Apptio's Technology Business Management solution is aligning IT with business priorities to drive tangible business results for today's Fortune 1000 companies. Apptio continues to accelerate its industry leadership to provide IT leaders at companies like JPMorgan Chase with a differentiated solution for managing the business of IT."
This award comes on the heels of Apptio's $16.5 million series C round of funding from Andreessen-Horowitz, Greylock Partners, Madrona Venture Group and Shasta Partners. Over the last year, Apptio has more than doubled its customer base, grown revenue by 300 percent and rapidly delivered new Technology Business Management applications and features.
Apptio is the leading independent provider of on-demand Technology Business Management (TBM) solutions for managing the business of IT. Apptio enables IT leaders to manage the cost, quality and value of IT Services by providing deep visibility into the total cost of IT services, communicating the value of IT to the business through an interactive Bill of IT™, and strategically aligning the planning, budgeting and forecasting processes. Apptio's TBM solutions play a critical role in helping companies understand and drive chargeback, virtualization, cloud and other key technology initiatives. Global enterprise customers such as Bank of America, Boeing, JPMorgan Chase, Microsoft, St. Luke's Health System, and Swiss Re rely on Apptio® products and services to reduce costs and align IT with business priorities. For more information, visit the Apptio website or the Apptio blog.
Barokas PR for Apptio