With the current financial crisis placing greater pressure on IT organizations to reduce costs, the need for cost transparency has never been more important
EDISON, N.J. (PRWEB) December 9, 2008
Many of the world's top enterprises are taking steps to answer this question by implementing a Technology Financial Management (TFM) solution from ComSci. The ComSci IT Cost Transparency and Chargeback solution enables enterprises to gain more visibility into the costs of IT products and services, optimize IT investments and better align IT with the overall strategy of the business. By utilizing ComSci's intuitive, interactive web-based reporting and analytics engine, these firms provide business users with the details of their individual usage, so enterprise customers everywhere can minimize IT costs and maximize IT business value.
In general, companies that implement a cost transparency and chargeback process can save 3% to 5% of their total IT Budget. ComSci's solution provides detailed consumption information and metrics to the business users in order to obtain these savings. The business users, now aware of the costs of their consumption of IT services, are able to make better decisions about IT priorities and this enables them to eliminate services that are not adding value to the business.
"To many CIOs, the demand for IT resources appears infinite," Craig Symons of Forrester wrote in his June 2006 report, How IT Must Shape and Manage Demand. "No matter what the business cycle, competitive environment, or internal conditions may be, IT resources are needed to grow or enable new businesses, improve margins, or reduce fixed and variable costs…. Without an effective mechanism to shape or control this demand, IT will almost always be faced with more demand than resources, forcing difficult decisions about resource allocation and leaving the perception that IT is a bottleneck to getting things done."
"With the current financial crisis placing greater pressure on IT organizations to reduce costs, the need for cost transparency has never been more important," said Robert Svec, President and CEO of ComSci. "The companies that take a strategic approach to IT expense management by partnering with their business users will be able to effectively reduce costs while still making technology investments that maintain their competitive edge."
ComSci delivers Technology Financial Management solutions that empower organizations to implement more effective IT financial governance. Through decades of experience and a suite of web-based tools, ComSci helps IT organizations enhance IT cost transparency and visibility, which in turn enables business units to understand and optimize demand and utilization of technology resources. ComSci is headquartered in Edison, New Jersey, and was founded in 1971. Visit http://www.comsci.com for further information.