Addition to Apptio platform will predict future cloud spend, streamline cloud deployment planning in organizations
BELLEVUE, Wash., November 8, 2022 /PRNewswire/ — Apptio, the leading provider of technology business management (TBM) applications, today announced Cloud Financial Planning, a leading solution that enables cloud leaders to create accurate, driver-based forecasts by accounting for planned future spending, priorities shifts and other cost drivers, resulting in more reliable and defensible cloud cost forecasts. Apptio welcomes interested parties to sign up for the beta today.
The State of FinOps 2022 Report states that the majority of FinOps practitioners currently face disjointed processes for building their cloud forecasts, leaving them reliant on ad hoc collaborative planning methods, siled information and inappropriate tools – resulting in a lack of team ownership, visibility and flexibility in their planning. A long-established leader in IT planning, Apptio has built its expertise by partnering with over 1,800 global clients to solve complex investment planning challenges over the past 15 years. With this announcement, Apptio expands its market-leading capabilities to address the unique challenges of cloud-based financial planning, breaking new ground with a planning solution that improves forecasting with business rationale, incorporates priorities across multiple stakeholder groups, and provides flexibility to accommodate changes as appear.
This is what makes Apptio Cloud Financial Planning truly unique: instead of simply relying on past data to predict future needs, Cloud Financial Planning captures and analyzes team information – including detailed cost drivers, new investments and mid-plan changes – for -accurate forecasting and tracking of reporting costs. It also provides a first-of-its-kind collaborative workspace to engage stakeholders throughout the planning process.
“With Cloud Financial Planning, we leverage Apptio’s unique expertise and understanding of financial management processes and combine this with our ability to ingest, interpret and model cloud usage data,” said Jeremy Young, Chief Technology Officer at Apptio. “This is important not only because we drive innovation in this category, but also because we equip our customers with much-needed tools to support and scale with new technology paradigms. These capabilities will be instrumental in helping decision makers engage stakeholders in the planning process and automate the consolidation of budget inputs to create accurate financial plans.”
Improving long-term planning through data analysis
Most companies ingesting cloud usage reports are ill-equipped to implement effective cloud financial management processes. Even companies with a deep understanding of the planning process for this type of technology cannot consume or efficiently process the millions of rows of data that come from a standard cloud usage report. Although there are many methods for estimating the costs of individual cloud resources, until now there has been a lack of tools that provide customers with the ability to create actionable and defensible plans for future cloud deployments.
Cloud Financial Planning will enable Apptio customers to:
- Plan the future. Cloud Financial Planning is the first tool in the industry to recognize that cloud-based workloads behave fundamentally differently than servers and storage. It provides a comprehensive planning tool for the unique characteristics of these loads.
- Run what/if scenario analyzes in the cloud. Unlike solutions that rely on simple inputs or past consumption to generate a linear forecast, customers can now report expected growth or net new spend and incorporate scenario analysis and cost optimization into the planning phase.
- Adapt to the changing parameters of cloud initiatives. Cloud Financial Planning builds on Apptio’s deep expertise and best-in-class financial algorithms to automatically consolidate budget inputs and calculate cloud costs—even in fast-changing environments.
Existing Cloudability customers are invited to sign up for the beta at https://www.apptio.com/cfp-beta
Apptio gives you the power of reliable, actionable insights to connect your technology investment decisions to drive better business results. More than 60 percent of Fortune 100 enterprises trust Apptio to manage spend across the entire IT portfolio and beyond so they can focus on delivering innovation. Apptio automatically ingests and intelligently structures vast amounts of enterprise and technology-specific cost and operational data. Apptio enables users from various disciplines to report, analyze, plan and manage their investments collaboratively, efficiently and with confidence. Learn more at Apptio.com.
FOR CONTACT: Jas McDonald, [email protected]