BNP Paribas, EMD Chemicals, Electronic Arts and Razorfish Added to Customer Base, Apptio Also Recognized by Leading Industry Analyst Firm as a "Cool Vendor" in IT Operations
Bellevue, Wash. – April 14, 2009 – Apptio, the market-leading provider of on-demand IT Cost Optimization software, continues to demonstrate market momentum with the announcement of several new enterprise customers across a variety of industries, underscoring the company’s rapid growth during one of the most difficult economic periods in recent times. Apptio’s new customer roster includes BNP Paribas Bank, Electronic Arts, EMD Chemicals, and Razorfish, and illustrates IT Cost Transparency’s valuable role in helping IT organizations reduce costs and improve IT efficiency. In addition, Apptio has garnered recognition from leading IT analyst firm Gartner, with the company being named to the “Cool Vendors in IT Operations, 2009” report published in March 2009.
Currently, businesses are struggling to reduce operating costs and optimize the performance of their IT investments. Leading enterprise companies across a breadth of industries including financial services, health care, media, biological sciences and technology are turning to Apptio to measure, manage, and communicate to the business the costs associated with delivering IT services. These forward-thinking IT departments recognize the strategic advantage that IT can offer their business as well as the importance of systems that track the key cost drivers for IT and empower IT leaders to make more effective decisions based on an understanding of real financial drivers.
Recently-signed customers, including BNP Paribas Bank, EMD Chemicals, Electronic Arts and Razorfish, are working with Apptio to create a process for continual cost optimization. This includes establishing transparency into the underlying cost drivers and the total costs of IT services, tracking usage and utilization to measure utility, comparing costs and key metrics to industry benchmarks to identify cost reduction opportunities, and leveraging sophisticated analytics to gain the insight they need to run a more efficient IT organization.
In addition to adding a number of new customers this past quarter, Apptio was also named in Gartner’s “Cool Vendors in IT Operations, 2009” report1, published in March 2009. Apptio was one of five companies listed in the Gartner report, which highlights interesting and innovative vendors, products and services in the IT operations space. Gartner defines a “Cool Vendor” as a company that offers innovative, impactful, and intriguing technology solutions.
The Gartner report states: “With service cost estimates, [IT managers] can better assess opportunities to reduce or streamline costs (that is, by looking into the detailed processes, tasks and other aspects), as well as benchmark their costs to those of the industry or with outsourcers. The result should be better business decision making based on actual data, rather than on speculation.” The full report can be found at www.gartner.com.
“This was a great quarter for Apptio on many fronts. Apptio has continued to see exceptional growth even in this tough economy because our solution delivers more value than ever at a time when companies are forced to take a more critical eye to their IT expenses,” said Sunny Gupta, CEO and co-founder of Apptio. “Our relentless focus on innovation and delivering customer value is enabling us to really help enterprises get a handle on IT service costs and utilization. IT Cost Transparency is a rapidly growing market segment within IT Service Management and, as a market pioneer, Apptio is well positioned to continue expanding our leadership role in this growing segment.”
About Gartner's Cool Vendors Selection Process
Gartner's listing does not constitute an exhaustive list of vendors in any given technology area, but rather is designed to highlight interesting, new and innovative vendors, products and services. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness of a particular purpose.
Gartner defines a cool vendor as a company that offers technologies or solutions that are: Innovative, enable users to do things they couldn't do before; Impactful, have, or will have, business impact (not just technology for the sake of technology); Intriguing, have caught Gartner's interest or curiosity in approximately the past six months.
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.