Helping IT departments looking at cost out initiatives and show IT value to Business
Fremont, CA (PRWEB) July 18, 2012
Costnomics, an innovative provider of on-demand Technology Business Management (TBM) solutions, is announcing the launch of two major new capabilities that are designed to help CIOs, CFOs and IT leaders support the transformation programs of their IT organizations; and to more effectively run IT like a Business. In close collaboration with customers, Costnomics’ 2012 Summer Release represents 12 months of development effort that is bringing more ground breaking methods and capabilities to market. Costnomics IT Service Portfolio Management and IT Charge Management represent two important additions to its TBM platform. Costnomics continues to deliver the solutions and methodologies needed to solve difficult IT Transparency challenges helping IT leaders communicate the value IT to their Business. With, modern approaches, Costnomics helps accelerate IT transformation initiatives and sets up IT as a strategic enabler. Costnomics will be providing demonstrations of its latest release at IT Financial Management Association, The World of IT Financial Management Conferences, August 20-24, 2012, Scottsdale, AZ
“The Summer 2012 Costnomics Release enables our customers to move from a Service Costing product, to a robust IT Financial Management solution with the additional powerful capabilities of a Service Catalog, Service Modeling and IT Chargeback” said Hardeep Singh, Co-Founder and President of Costnomics Inc. “Organizations need a way to communicate the value of the Services provided directly or indirectly to the Business. Our latest offering delivers powerful methods to help explain the Services on offer, their associated cost and their SLAs. This release we will support IT leaders improve their operating model and strengthen their contribution to the Business Budget Forecasting and Annual Operating Plan Processes,” Singh stated.
The Release includes two major capabilities and several important enhancements designed to enable IT leaders to provide the insight needed to transform IT, making IT expenses more transparent, efficient and optimized. Costnomics helps IT better align with Business objectives through the provision of an on-demand platform upon which IT can build and give a clear outline of IT Services offered and their associated cost structures. Costnomics is introducing IT Service Portfolio Management and IT Charge Management to provide Enterprises with a complete and integrated solution lifecycle needed to manage all IT Financial Management Processes.
Some of these new features include:
Service Portfolio Management: Delivers a modern Business Service Catalog and Technical Service Catalog integrated with existing Service Cost Management to help communicate the value of IT Services to the Business. Using a modern book design and a rapid Service Designer tool, Users can quickly move their catalogs from Excel and Word documents to Costnomics collaborative solution. The Service Modeler allows Business Service Cost Modeling supporting Chargeback and Showback needs.
IT Charge Management: Adding to the traditional chargeback functionality, such as automated allocation strategies, Actual vs. Budgeted trends and the generation of a Bill of IT, Costnomics is adding the functional support for Managed Services and capability like ARC and RRC. Enhancement of Chargeback analytics to showcase Business Services and Business Unit costs across multiple levels of Processes, Applications and Technical Services for a holistic IT view.
Costnomics is a cloud-based services (SaaS) provider offering a set of modular products that provide a radically new approach to solving IT Financial Management. Costnomics specializes in helping to run "IT more like a Business" by providing the insight for improved Technology Business Management (TBM) decisions, resulting in lowered OPEX and CAPEX.