HP Helps Chief Information Officers Run IT Like a Business

On June 17,  HP 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.

 

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. The solution brings together software and services to provide improved visibility, governance, accountability and predictability to IT finance.

 

HP FP&A is the first offering in the HP ITFM portfolio designed to help IT organizations use business analytics to improve decision making, operate efficiently and better align with the rest of the business. This transforms IT into a performance-based, metrics-driven organization.

 

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. In addition, while 66 percent of senior IT leaders said IT-spending transparency is “very important” to their business stakeholders, only 44 percent reported that their stakeholders are “very satisfied” with their organizations’ spending transparency.

 

 “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.”