HP Offers BI Solution for IT Executives
CIOs and CFOs are scrutinizing every line of IT budgets in 2009, so IT executives who want to invest need to be able to show the benefits of those investments. With that in mind, HP is introducing a new technology in its IT Financial Management business intelligence portfolio of products -- the HP Project and Portfolio Management Center 8.0, designed to demonstrate cost benefits of IT spending.
As chief financial officers scrutinize every item in the budget this year, IT organizations are finding it tougher to sell IT investments to financial executives, even when IT managers are pretty sure the spending will ultimately save the company money.
With that in mind, Hewlett-Packard is introducing a new technology in its IT Financial Management business intelligence portfolio of products. The HP Project and Portfolio Management Center 8.0 is designed to help IT executives demonstrate the cost benefits of IT spending to the people in charge of the money-the CFOs.
While IT has been helping the rest of the business to leverage enterprise applications and associated BI to make better business decisions, IT itself has been left much like the "cobbler's children without shoes," says Ken Cheney, director of product marketing at HP Software and Solutions. That is, IT often operates its own BI in the form of a series of Excel spreadsheets and a lot of gut decisions.
"A lot of time and effort is spent using silos of information and doing spreadsheet kung fu," Cheney says.