Visionary Leader, Rebecca Jacoby, Brings Deep Background in Business-IT Alignment to IT Financial Management Software Company
Bellevue, Wash. - December 2, 2009 - Apptio, the leading provider of on-demand IT Financial Management software, today announced the addition of Cisco Systems Senior Vice President and CIO, Rebecca Jacoby, as a Strategic Advisor to Apptio's Board of Directors. IT Financial Management is a critical element in increasing the business value of IT and aligning IT to business objectives. Under Jacoby's guidance, Cisco is on the leading edge of running IT like a business with transparency into cost of IT Services.
“Rebecca is a visionary CIO at one of the world's leading technology companies and is widely recognized for her ability to align IT with strategic business initiatives,” said Sunny Gupta, co-founder and CEO of Apptio. “An early adopter and power user of Apptio's IT Financial Management solutions, Rebecca sets a shining example to other business leaders on IT Service Costing, allocating costs through a Bill of IT to business users and increasing the business value of IT. We are extremely excited to have her as a strategic advisor to the Board of Directors as she will provide invaluable guidance as we scale the company to the next phase of growth.”
It's role is shifting from technology buyer to a provider of IT services. IT will be forced to operate like a business, simultaneously reducing costs, while improving the quality of service to its customers and increasing the strategic value of IT to the business. This requires CIOs to understand the full cost of IT services, engage with business leaders on the value IT provides to the business and drive a transfer of costs from run-the-business operations to grow-the-business initiatives. Jacoby represents a new breed of business-minded CIOs who are leading this transformation towards “leaner” IT operations. Her background in Supply Chain Management and strategic use of Apptio's ITFM software has enabled Cisco to significantly improve the transparency and cost effectiveness of its IT operations.
“IT needs to think about delivering IT services in the framework of a supply chain: How much does it cost to 'produce' and 'operate' our services? Are we competitive? How can we reduce cost and improve quality? And how can we ensure supply is aligned to demand?” said Rebecca Jacoby, CIO of Cisco. “IT Financial Management is a key ingredient to helping CIOs manage the business of IT and provide transparency into the cost of IT services to business leaders. It's my privilege to join Apptio's board as Strategic Advisor. They have the right product at the right time to lead a transformation in IT, along with the right team and business model to build a very successful software company.”
This addition to Apptio's Board comes at a time of tremendous growth for Apptio. In the third quarter of 2009, Apptio added several marquee customers to its client roster including VW Credit and Hallmark, among others. In August, Apptio closed a $14 million Series B round of funding co-lead by the Andreessen Horowitz Fund, Greylock Partners, Madrona Venture Group and Shasta Ventures.
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