HP Helps Chief Information Officers Run IT Like a Business

LAS VEGAS--(EON: Enhanced Online News)--HP today unveiled a solution in its IT Financial Management (ITFM) portfolio to help IT executives establish financial transparency and take action in areas where they can optimize costs.

“HP is helping us enhance operational and strategic decision making by identifying ways to drive more value to our business while driving out inefficiencies”

A new offering within the HP IT Financial Management (ITFM) portfolio, the HP Financial Planning and Analysis (FP&A) solution enables chief information officers (CIOs) to run IT like a business and demonstrate the business value of IT services.

In a recent survey⁽¹⁾ of more than 200 IT leaders worldwide, nearly half of the respondents said they lack investment rigor and have no form of portfolio management in place for aligning IT investment decisions to business priorities.

The new software automates the process of consolidating financial information across labor and technology assets for improved financial analysis. HP FP&A can be run as a stand-alone 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 newly enhanced version of HP Project Portfolio Management Center 8.0 software with improved financial and resource management capabilities. This helps customers more effectively manage IT projects and resources.

HP provides comprehensive services for IT financial management, combining years of experience in business intelligence and service management with expertise in implementing industry-leading HP software products.

Additional Resources

HP Executive Quote

“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. “We help CIOs manage the business of IT with the same rigor as any line of business.”

Third-Party/Customer Quotes

“HP is helping us enhance operational and strategic decision making by identifying ways to drive more value to our business while driving out inefficiencies,” said Allan Hackney, chief information officer, John Hancock Financial Services. “Our IT organization is better able to attract internal capital for investment by managing itself like a business in a transparent, fact-based manner.”

“With HP IT Financial Management, we’re driving the financial accountability of our technology organization,” said Jeffrey Johnson, deputy chief information officer and vice president of Operations and Infrastructure at Constellation Energy, a Baltimore-based supplier of energy products. “We’ve benchmarked our IT spending in relationship to our operational expenses, and it is substantially lower than that of our peers. Our unit costs – meaning cost per desktop, per server, per gigabyte of storage – have dropped 14 percent.”

"Matching business priorities with the right IT assets plays an integral role in addressing the needs of today's marketplace with innovation and speed," said David Galas, vice president, Enterprise Planning and Architecture, Equifax. "HP Project and Portfolio Management gives us greater visibility into project processes and resources across the enterprise, enabling us to quickly respond to changes and address the needs of our customers efficiently."

Keywords

Asset management, business analytics, business intelligence, business value of IT, chief information officer, CIO, configuration management, financial analysis, financial planning, financial transparency, governance, IT financial management, ITFM, IT governance, IT investments, IT spending, portfolio management, project management, PPM, resource management

About HP

HP, the world’s largest technology company, simplifies the technology experience for consumers and businesses with a portfolio that spans printing, personal computing, software, services and IT infrastructure. More information about HP (NYSE: HPQ) is available at http://www.hp.com/.

Note to editors: More news from HP, including links to RSS feeds, is available at http://www.hp.com/hpinfo/newsroom/.

⁽¹⁾ Penn, Schoen & Berland Associates, sponsored by HP, “Software Universe Research,” May 2009.

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