Software-as-a-service IT financial management specialist Digital Fuel unveiled Version 7 of its IT financial management platform, enabling teams to collaborate in budgeting, planning and cost optimization. The platform is a set of SAAS business applications that automate processes for IT business management through proactive planning, billing and cost optimization capabilities.
Advances in the new version include a new module for IT budgeting, which automates the creation of IT budgets based on historical data, demand and business objectives; enhanced "what-if" analysis to enable side-by-side comparisons of alternative approaches and different cost models; and new visual cost modeling capabilities to simplify use for IT, finance and business users.
Other features include automated cost optimization, which recommends specific strategies for storage, servers and business applications; and simplified data management that streamlines use of disparate data sources with automatic data uploading, cleansing and mapping to cost model and business objects.
"Digital Fuel is our backbone for managing the business of IT. We use Digital Fuel's IT Costing, Showback Chargeback, SLM KPI Management and Vendor Governance. We are delighted to have the opportunity to define this speedily evolving space," said Larry Krieb, vice president of global information services of Estee Lauder.
Barbara Gomolski, managing vice president at IT research firm Gartner, said simply put, it is unacceptable to have poor visibility into IT spending. "For IT to play a strategic role, they must keep score," she said. "Companies we've worked with have used IT financial management solutions to quickly identify issues and make changes that directly impact business results."
Digital Fuel's IT financial management platform is built to manage IT from a business perspective. The suite of applications is designed to automate the essential processes necessary to control IT spending, including IT Costing, IT Budgeting, IT Showback and Chargeback, IT SLA and KPI, and IT Vendor Management.
"Increasingly, companies around the world understand the connection between smart IT budgeting, cost and value management and business growth. Our new Version 7 supports this new dynamic with incredible capabilities that support collaboration while enabling the ease of use that the diverse types of users in IT, finance and the business require," said Yisrael Dancziger, president and CEO of Digital Fuel. "Digital Fuel has always been devoted to ensuring that our customers see tangible value quickly and ongoing, and the new Release 7 enables even more and faster value."
In December, financial services company First Horizon National announced Digital Fuel will automate the company's IT financial management processes. Led by new and expanded business from major customers including Catipta, Deutsche Bank, First Horizon, Starwood, TELUS, Time Warner Cable, Walgreens and many others, Digital Fuel logged an increase in committed monthly recurring revenue for the second quarter of this year.