HP Helps CIOs Run IT Like a Business
At HP Software Universe this week, HP unveiled its Financial Planning and Analysis (FP&A) to help CIOs contain IT costs by using business analytics to make better decisions, operate more efficiently and better align IT activities with the rest of the business.
At HP Software Universe, HP unveiled its Financial Planning and Analysis (FP&A) to help CIOs contain IT costs by using business analytics to make better decisions, operate more efficiently and better align IT activities with the rest of the business.
FP&A is part of HP's IT Financial Management (ITFM) portfolio designed to help CIOs and IT managers create financial transparency, cut costs, and demonstrate the business value of IT.
"Customers can achieve successful IT financial management with HP's market-leading software products and recognized consulting expertise in business intelligence, service management and IT software implementation," said Thomas E. Hogan, executive vice president, Software and Solutions, HP, in a statement. "We help CIOs manage the business of IT with the same rigor as any line of business."
In its announcement, HP pointed to the results of a survey of 200 senior IT directors conducted by PSB Research.
Some 70% of the respondents said in the near future, the business demands on IT will grow faster than their budgets. In addition, 43% said they don't have a system in place for aligning investments in IT to the needs of their businesses, according to the survey.
The FP&A tool provides CIOs with the necessary information so they can accurately align IT costs to the needs of the business, the company said. HP said FP&A can be run as a stand-alone application or in conjunction with other HP software products such as HP Project Portfolio Management Center, HP Asset Manager and HP Configuration Management System.
HP also announced a new version of its Project Portfolio Management (PPM) Center 8.0 software with improved financial and resource management capabilities to customers more better manage IT projects and resources.