Office 2007 Enterprise HP Unveils IT Financial Man

Hewlett-Packard, the world’s biggest technologies organization, announced an answer in its IT Fiscal Management portfolio, HP Monetary Planning and Analysis, built to help CIOs to run IT like a enterprise and demonstrate the enterprise value of IT solutions. HP says the solution brings together software program and services to supply improved visibility, governance, accountability and predictability to IT finance.


The company’s FP&An answer is the first offering in the ITFM portfolio made to aid IT organizations use enterprise analytics to improve decision-making, operate more efficiently and align more closely with the rest of the organization, molding IT into a performance-based, metrics-driven organization. With the HP IT Financial Management portfolio, businesses can take on fiscal analysis, project portfolio management and asset management capabilities to drive out inefficiencies in IT spending, HP said. HP also announced a newly enhanced version of HP Project Portfolio Management Center 8.0 application with enhanced fiscal and resource management capabilities.


HP FP&A application combines a fiscal organizing and analysis capability linked to a financial data model. It consolidates monetary information from project, asset and configuration management systems,Office 2007 Enterprise, as well as ERP (enterprise resource organizing) software program. The software program automates the process of consolidating financial information across labor and technologies assets for fiscal evaluation. HP FP&A can be operate as a stand-alone application or in conjunction with other HP software program products such as HP Project Portfolio Management Center, HP Asset Manager and HP Configuration Management System.


“Customers can achieve successful IT monetary management with HP’s market-leading computer software products and recognized consulting expertise in organization intelligence, service management and IT computer software implementation,” said HP’s executive vice president of software program and solutions Thomas Hogan. “We support CIOs manage the organization of IT with the same rigor as any line of enterprise.”


In a survey of more than 200 IT leaders worldwide conducted by PSB Research in May 2009, 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 company 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.

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