Leading Provider of Technology Business Management Software Recognized For Technology Innovation, Financial Growth and Execution of Business Strategy
Seattle, Wash. - June 21, 2010 - Apptio, the leading provider of on-demand Technology Business Management (TBM) solutions, today announced that the company has been selected as a finalist for Red Herring's North America 100 award, a prestigious list honoring the year's most promising private technology ventures from the North American business region.
Selected as one of the most innovative companies from a pool of hundreds, the Red Herring 100 North America nominees are evaluated on both quantitative and qualitative criteria – such as financial performance, technology innovation, quality of management, execution of strategy, and integration into their respective industries. This unique assessment of potential is complemented by a review of the actual track record and standing of a company, which allows Red Herring to see past the "buzz," and make the list an invaluable instrument for discovering and advocating the greatest business opportunities in the industry.
"Red Herring assesses companies using a rigorous and comprehensive evaluation process, making this recognition especially meaningful," said Sunny Gupta, founder, president and CEO of Apptio. "Many of today's most advanced Fortune 1000 IT organizations are using Apptio to gain insight into the cost, value and quality of their IT services. Apptio has carved out an early lead in the Technology Business Management category and is well positioned to take a majority share of a billion dollar market opportunity."
Using Apptio's TBM software, customers gain better visibility into budgets and service costs, make better ROI-based decisions, improve IT operational performance, communicate value through a "Bill of IT," and drive long-term IT decisions and planning. Companies that implement TBM often achieve a 10-15% cost savings in under 12 months, greater productivity across their IT and finance teams, and improved overall alignment of IT to business priorities. Companies such as BNP Paribas Cisco, Saint Luke's Health System, Starbucks and Volkswagen Credit have selected Apptio to help align their IT organizations with business priorities.
"This year was especially difficult," said Alex Vieux, publisher and CEO of Red Herring. "Despite the global economic situation, there were many great companies producing really innovative and amazing products that we had a difficult time narrowing the pool and selecting the finalists. Apptio shows great promise and therefore deserves to be among the Finalists. Now we're faced with the difficult task of selecting the Top 100 winners of Red Herring North America award. We know that this year's crop will grow into some amazing companies that are sure to go far."
The Top 100 winners will be announced at a special awards ceremony on June 24 at the Red Herring North America Conference in San Diego.
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