Company's On-Demand IT Cost Transparency Solution Enables Enterprises to Increase Visibility, Make Better IT Decisions, and Clearly Articulate the Business Value of IT
Bellevue, Wash. – June 9, 2008 – Apptio, the pioneer of on-demand IT Cost Transparency solutions, made its official debut today. The company formally launched the Apptio on-demand offering that enables enterprises worldwide to gain more visibility into the costs of IT products and services, optimize IT investments and better align IT with the overall strategy of the business.
Apptio was founded and is advised by a team of enterprise software and venture capital veterans including Marc Andreessen (NetScape and Opsware), Ben Horowitz (HP and Opsware), Sunny Gupta (iConclude and Opsware), Yuval Scarlat (Mercury Interactive), Tom Bogan (Citrix, Greylock Partners and Rational), and Matt McIllwain (Madrona Venture Group). The Apptio team shares a common mission: to bring greater transparency to IT so enterprise customers everywhere can minimize IT costs and maximize IT business value.
Enterprises worldwide spent more than $3.1 trillion on Information Technology in 2007. This massive expenditure combined with the added complexity that new technology brings to overall monitoring and management has made it increasingly difficult for enterprises to ascertain the relationship between IT spend and business success. As a result, IT organizations are struggling to understand the true costs of the services they offer to the business and to clearly articulate the value delivered.
“The size and strategic importance of IT today requires senior IT leaders who can effectively articulate the business value of their investments,” said Donna Scott, Vice President and Distinguished Research Analyst, Gartner. “These leaders need solutions that provide them greater visibility into the costs, utilization and service levels associated with the IT services they deliver so they can make the right investment and optimization decisions and more effectively partner with the business to maximize the value of IT.”
The Apptio on-demand solution addresses these challenges by providing an intuitive, template-driven, visual modeling environment integrated with a rich, interactive reporting and analytics engine that enables enterprises to:
- Gain greater visibility into cost, utilization and operational data for all of their IT services
- Drill down from high-level IT services to key underlying metrics to understand cost and utilization drivers and identify areas for cost savings
- Benchmark and base line cost metrics against external and internal targets
- Leverage “What If” analysis across key IT metrics to improve scenario planning and IT decision making
- Create a “Bill of IT” to more effectively communicate the value of IT to the business
Operating in stealth mode for the last several months, Apptio has attracted significant interest from industry leaders and established significant customer traction. Several companies including Finlay Enterprises, HomeStreet Bank, and Motricity have implemented the Apptio offering and have recognized immediate and positive results.
“Apptio allowed us to quickly model costs and budgets for our entire IT service portfolio, leveraging data from spreadsheets, the GL, a PPM solution and our Service Desk,” said Jim Giantomenico, Senior Vice President and Chief Information Officer, Finlay Fine Jewelry. “Apptio’s solution gives us complete visibility into IT service costs, the ability to track actuals versus budget on a monthly basis, and will play a key role in helping me manage the business of our IT organization from here on out.”
“As evidenced by our customer traction, IT organizations are acutely aware of the need to get better visibility into the significant investments they have made over the last 20 years,” said Sunny Gupta, CEO and co-founder of Apptio. “Our customers requested, and we are delivering, an intuitive solution that allows them to quickly incorporate data from existing internal systems and offers rich reporting and analytics across cost, utilization and operational metrics for managing the performance of IT from the desktop to the datacenter.”
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.