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HP Unveils New IT Financial Management Solution
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HP FP&A is the first offering in the HP IT financial management portfolio.
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Wednesday, July 01, 2009:
HP has introduced a new solution in its IT financial management (ITFM) portfolio to help IT executives establish financial transparency and take action in areas where they can optimise 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 organisations use business analytics to improve decision making, operate efficiently and better align with the rest of the business.
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This transforms IT into a performance-based, metrics-driven organisation.
HP FP&A software combines a financial planning and analysis capability linked to a financial data model. It consolidates financial information from project, asset and configuration management systems, as well as enterprise resource planning (ERP) software. This approach provides visibility of the end-to-end costs of a business service. With this visibility, CIOs can then take action to reduce variances between planned and actual spending, optimise underutilised assets and accurately allocate IT costs to the consumers of IT services.
The software automates the process of consolidating financial information across labour and technology assets for improved financial analysis. HP FP&A can be run as a stand-alone application or in conjunction with other HP software products such as HP Project Portfolio Management Center, HP Asset Manager and HP Configuration Management System.
“Customers can achieve successful IT financial management with HP’s market-leading software products and recognised consulting expertise in business intelligence, service management and IT software implementation,” said Kamal Dutt, director, HP software and solutions, Hewlett Packard India Sales Pvt Ltd. “We help CIOs manage the business of IT with the same rigour as any line of business.”
HP also announced a newly enhanced version of HP Project Portfolio Management (PPM) Center 8.0 software with improved financial and resource management capabilities. This helps customers more effectively manage IT projects and resources.
The combination of all these HP offerings increases the speed, efficiency and accuracy of IT financial management processes, further aligning IT activity and cost with business services, the company elaborates.
The offerings are being demonstrated this week at HP Software Universe 2009, the company’s annual customer and partner event focussed on its software business.
Additionally, consulting services supply best practices to integrate data from multiple sources, providing better business insight.
HP provides comprehensive services for IT financial management, combining years of experience in business intelligence and service management with expertise in implementing HP software products -- strategy and advisory services; implementation services; process consulting and solution implementation services; and best practices for configuration management systems.
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