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Portfolio-wide enhancements to visibility and business agility tools enable businesses to simultaneously invest in the future and save costs in the present
Bellevue, WASHINGTON – November 8, 2022 – Apptio, the leading provider of technology business management (TBM) applications, today announced several product updates designed to support organizations looking to take tighter control of their costs in the face of challenging economic conditions. New features provide key decision-makers with improved visibility and insights into their technology spending, allowing them to better understand and communicate key business metrics and build operational agility to respond to changing requirements.
Inflation, labor shortages, and the threat of a recession are adding more pressure on businesses to determine their optimal strategy. In periods of market growth, organizations find it easier to invest in multiple growth strategies or continue to support legacy products. However, in periods of pullback, it becomes essential to weigh how much value each of these options bring.
A recent report from Gartner® found, “…78% of CFOs will increase or maintain enterprise digital investments through 2023 even if inflation persists.” [1] Organizations are not re-evaluating their commitment to digital transformation. Instead, they are being more targeted in their spending to increase efficiency and innovation in the long run.
In response, Apptio is launching new updates to enable organizations to accelerate this journey while simultaneously delivering unit cost reductions the present moment demands. Modern technology projects and investments consist of so many different expenses, such as labor, hardware and services, that it can be difficult to make sense of their true costs and value through the use of complex data and reports. Apptio provides true transparency and flexibility into technology spend by giving organizations multiple ways to view, understand and analyze their data – from looking at high-level insights into projects and product, through to drilling down to the resource level for in-depth cost analysis.
The result is more accurate decision-making and faster troubleshooting.
Apptio’s new launch features help to connect project investments to the value being delivered by breaking down data siloes between business, finance and IT – presenting insights in real terms that improves collaboration and alignment.
Apptio’s innovations help businesses to build operational agility and respond more rapidly to changing market conditions. In a moment of economic uncertainty, Apptio is supporting businesses to improve time-to-value, accelerate the planning process, direct funding to the most important projects, and provide actionable direction for teams regardless of their chosen operating model.
“Businesses are facing increased pressure on their budgets from the challenges posed by the difficult economic conditions. It is crucial that key decision-makers are equipped with the best tools to ensure their technology investments are driving business value,” said Jeremy Ung, Chief Technology Officer at Apptio. “Traditional financial management tools cannot compete with the demands of today’s rapidly changing technology environment, and as Gartner has highlighted, the winners on the other side of this cycle will have continued to accelerate the right digital initiatives across their organization, even as they facing mounting pressures on their profits.”
Organizations that are building operational agility and visibility will be best placed to meet this challenge. “By driving visibility and accountability across our organization with Apptio, we have been able to increase our agility, reduce costs in areas that do not drive business value, and accurately measure our return on strategic investments,” said Ronan Hughes, Principal Architect for Core Banking and Group Manufacturing at Bank of Ireland. “Having undertaken a large and complex core transformation program in 2020, Bank of Ireland has continued to make significant progress in partnership with Apptio. We recently went from initial 4-week proof of concept to delivering our first full-scale Total Cost of Ownership model for the entire Bank in just 5 months, through the power of TBM.”
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[1]Gartner Press Release, Gartner Says 78% of CFOs Will Increase or Maintain Enterprise Digital Investments Through 2023 Even if Inflation Persists, May 25, 2022, GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved
Apptio gives you the power of trusted, actionable insights to connect your technology investment decisions to drive better business outcomes. More than 60 percent of Fortune 100 enterprises trust Apptio to manage to spend across the entire IT portfolio and beyond, so they can focus on delivering innovation. Apptio automatically ingests and intelligently structures vast amounts of enterprise and technology-specific spend and operational data. Apptio enables users across disciplines to report, analyze, plan, and govern their investments collaboratively, efficiently, and with confidence.