Office Professional 2010 HP Unveils IT Financial M

Hewlett-Packard, the world’s biggest technology company, announced a solution in its IT Fiscal Management portfolio, HP Financial Planning and Evaluation, designed to support CIOs to run IT like a organization and show the organization value of IT companies. HP says the solution brings together software program and companies to supply improved visibility, governance, accountability and predictability to IT finance.


The company’s FP&A solution is the first offering in the ITFM portfolio made to assist IT organizations use enterprise analytics to improve decision-making, operate more efficiently and align more closely with the rest of the enterprise, molding IT into a performance-based, metrics-driven organization. With the HP IT Financial Management portfolio, businesses can take on monetary evaluation, 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 computer software with enhanced financial and resource management capabilities.


HP FP&A software program combines a monetary organizing and evaluation capability linked to a fiscal data model. It consolidates economic information from project, asset and configuration management systems, as well as ERP (enterprise resource organizing) software. The computer software automates the process of consolidating economic 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 computer software products such as HP Project Portfolio Management Center, HP Asset Manager and HP Configuration Management System.


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


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 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.

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 Monetary Management, their company is driving the financial accountability of the technology 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,Office Professional 2010, per gigabyte of storage – have dropped 14 percent.”