BELLEVUE, Wash., March 9, 2016 /PRNewswire/ -- Apptio, the leading provider of cloud-based Technology Business Management (TBM) software, today announced new Contract and Asset planning capabilities for its IT Planning Foundation application. Combined with existing planning functionality, CIOs, IT finance teams and budget owners now have detailed visibility into their resource investments in labor, traditional and cloud-based vendor contracts and IT assets. According to Apptio's IT Economics Report, these three investment categories account for approximately 95 percent of IT organizational spend.
According to CEB, IT and business leaders often see budgeting as a time consuming and bureaucratic exercise— one that takes months to complete and wastes more than 11 percent of the total budget through missed investment and efficiency opportunities. Furthermore, as technology becomes ever more widespread throughout the enterprise and more than 70 percent of business priorities involve technology, CEB data shows that for every IT budget dollar spent on technology, business partners spend an additional forty seven cents procuring their own solutions.
"In order for IT leaders and their counterparts to align on business goals, they need insight into their investments around people, vendors and assets during the planning process," said Ted Kummert, EVP of Engineering at Apptio. "With Apptio IT Planning Foundation, budgeting and forecasting are no longer an opaque and complex spreadsheet driven process. Apptio customers now have a complete understanding of how they can utilize their budget to become a better partner and move the business forward."
Increase Transparency in Vendor Contract Planning
In the typical planning process, the most detailed information about vendor contracts is managed by corporate finance. Combined with the increasing complexity of cloud provider contracts, this can create a lack of visibility for IT leaders and inhibits IT from aligning their plan with the business' priorities. Apptio's new Contract planning capabilities give IT leaders a view of all vendor contracts, including renewal dates, total contract values, notice periods and budget increases.
"Apptio's IT Planning application allows us to have a complete picture of our contract information from every vendor," said Mark Hayman, Head of Application Portfolio Management and Governance at Gazprom Marketing & Trading. "Now, we have a consistent rhythm throughout the year that enables us to spark up contract-based conversations as needed with all of the data to make informed decisions about how we want to move forward."
Simplify Capital Asset Planning to Avoid Costly Errors
Capital assets require special accounting treatments depending on the type of asset, a task typically left to corporate finance. When disconnected, IT leaders are left to estimate the depreciation of IT capital assets, potentially affecting the company's balance sheet. Apptio's new Asset and Depreciation functionality allows IT finance to create pre-defined depreciation parameters by asset type and enter key asset information in an efficient manner, delivering a more accurate plan.
For more information on how Apptio's IT Planning Foundation aligns IT budgets to business priorities and improves the efficacy of the planning process, please visit http://www.apptio.com/applications/it-planning. Apptio IT Planning can also be integrated with Apptio Cost Transparency.
Apptio is the CIO's business management system. We build advanced data and analytics applications that help all IT leaders understand and make informed decisions about their technology investments, capitalize on the cloud transformation and drive innovation within their organization. We call it Technology Business Management. Our applications help companies align technology spending to business outcomes and automate IT processes like cost transparency, benchmarking, chargeback and planning. Hundreds of customers, including more than 40% of the Fortune 100, choose Apptio as their business system of record for IT. For more information, please visit www.Apptio.com.