IT Financial Management Tools Reviews and Ratings
What are IT Financial Management Tools?
Gartner defines IT financial management (ITFM) as tools designed to help better manage IT spend. These tools will enable better spend transparency and cost controls, and more robust budgeting and forecasting capabilities. These tools can significantly automate the work required to support ITFM practices and decision making.
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Apptio, a subset of IBM, provides technology spend and value management software. Its primary business focus is on utilizing AI-based data insights which equip leaders to make more informed financial and operational decisions. Apptio is recognized in fields such as Technology Business Management (TBM) and FinOps, catering to an extensive global user base.
Bee360 is designed to provide integrated and comprehensive management. The platform combines different facets such as Strategic Portfolio Management, Enterprise Agile Planning, Enterprise Architecture Management, and Financial Management. Together, these components form a Digital Twin of an Organisation. Bee360 aims to offer a broad perspective by connecting these areas, thus facilitating users to anticipatively design and restructure organizations with full visibility into potential effects. Bee360 uses fundamental, efficacious principles to cultivate adaptive and robust organizations, making it possible for users to actualize plans rather than merely defending them.
ACCess Information On Demand (ACCIOD) was created in 2007 to optimize IT “Time to Market” in the context of LBOs. Drawing on its experience on complex, high-stakes projects such as optimizing recurring I&O infrastructure (OpEx) and engagement (CapEx) costs, selective MultiCloud purchases, ACCIOD and its R&D have created an integrated system tool and automated which simulates the organization and business IT processes (Run, Projects, , Benefit Tracking, DTO, FinOps Augmented, Chargeback, Services Catalog, Costing-Pricing). Its AI/ML/KB technology enables a predictive model of operating and capital expenditure values to match the company's business objectives. KP-One is an IT Operating Model designed as a web native solution, with a Data-Centric Model aggregation, based on universal technology stack, interoperability workflow model secure.
Upland Software is a business-centric firm that concentrates on developing a comprehensive library of cloud-based software products. The core function of these products is to address specific organizational challenges and provide operational support to all sectors of an organization. The company aims to maximize revenue while minimizing expenditure for users, asserting its commitment to offering selection, adaptability, and value. The robust library operates on a large scale and is designed to provide swift value realization to its users.
Amalytics Software, headquartered in the UK, focuses on the creation and implementation of SaaS-based Cost Management solutions tailored for large-scale businesses with complex technological infrastructures. The company's flagship product, CostLens, provides users with an enhanced level of cost transparency, allowing for more effective management and optimisation of technology expenses whilst delivering augmented return on investments. The firm caters to businesses across the UK and Europe.
Nicus is a provider of IT Financial and Business Management solutions. The company primarily focuses on aiding customers to achieve IT cost transparency, thereby enabling informed IT decisions. Its solutions stem from the efforts of seasoned practitioners intending to improve the management of IT financial information. Nicus offers a complete suite of tools that incorporates IT Planning, Service Cost Modeling, Benchmarking, Bill of IT, Application TCO, and Demand Management.
DextraData is an independent software company that has been supporting organizations in their digital transformation since 1995. Based in Germany, DextraData develops SaaS-based industrial solutions designed to address the evolving challenges of modern businesses. The company’s software products focus on creating transparency, streamlining processes and providing actionable insights to support both workforce and business operations. Under the motto "Building Your Digital Tomorrow," DextraData operates from locations in Essen, Berlin, Hamburg, Munich and Zagreb, working on forward-thinking solutions for a digital future.
ITBMO is an IT Financial Management (ITFM) / Technology Business Management (TBM) solution provider. Its solution (EZTBM) provides a platform to automate IT budgeting including contracts, labor, and assets management. EZTBM simplifies, automates, and drives better cost visibility into all related IT expenses along with executive dashboards to view and manage budget variance and IT financial performance. EZTBM enables service/application owners to create their cost models and view TCO and unit cost. It provides showback and bill of IT to business units along with cloud financial management capabilities for AWS and Azure.
MagicOrange is an intelligent Enterprise Financial Management Platform offering ITFM, TBM, CFM and FInOps capabilities. It is purpose built for large enterprises that need to accurately correlate and assign IT, shared services and direct divisional costs to business activities and it delivers precise cost insights and predictive analytics that drive business transformation, financial control and sustainable growth. The platform provides CIOs and their leadership teams with sophisticated capabilities including cloud, hybrid and on premises cost allocation, AI powered cost modelling, budgeting, forecasting and scenarios planning, Gen AI data query and more. These capabilities enable trusted chargeback programs, robust cost optimization planning and analysis, multi cloud cost visibility and commitment reporting and total cost unit economics. MagicOrange helps companies drive growth maximize profitability, reduce waste and unlock new value by providing the insights needed to invest wisely.
Serviceware is a provider of software solutions for the digitalisation and automation of service processes (Enterprise Service Management) with which companies can increase their service quality and manage their service costs efficiently.
Serviceware partners with customers from strategic consulting through the definition of the service strategy to the implementation of an Enterprise Service Platform. Further components of the portfolio are safe and reliable infrastructure solutions and Managed Services.
Serviceware has over 1,000 customers worldwide from various business sectors, including 17 DAX companies and five of the seven largest German companies. Serviceware employs more than 500 employees at 14 international sites.
USU is a provider of software and services for IT and customer service management and empowers companies to meet the demands of today’s digital world. Global companies use the solutions to cut costs, drive agility, and reduce risk — with smarter services, streamlined workflows, and improved collaboration. With over 40 years of experience and locations worldwide, the USU team helps customers move into the future.
Silxo operates as a global transformation service provider. The company aims to assist organisations in strategic design, operational efficiency, IT modernisation, crisis response, and security assurance. In collaboration with businesses, Silxo identifies opportunities for improvement to boost return on investment and implements the recommended enhancements to support business growth. The company extends its services to various sizes of technology businesses, including those with high growth rates and larger organisations, with a particular focus on fostering a product-led and customer-friendly culture. Additionally, Silxo offers consultation for Private Equity and its associated portfolios to ensure effective use of technology for substantial ROI. The leadership at Silxo brings to table valuable experience from globally recognised technology product companies.
A Group is engaged in offering a broad spectrum of services including Strategic Advisory-Sourcing, Transformation, and Spend Optimisation As-a-Service. It also provides ClearCost, a robust IT financial management software solution. The primary business challenge the company addresses involves aiding leaders in effectively managing and communicating the cost, quality, and value of their IT services. These solutions are intended for internal organizational operations, providing essential tools to enhance service delivery.
CostPerform offers cost and performance management software. It features cost models via a graphical user interface, allocation methods and customizable templates for various industries, providing insights into cost structures and performance metrics.
SilkFlo helps companies transform ideas into impactful technology initiatives through a structured, data-driven approach. The platform centralizes innovation pipeline management, offering clear ROI insights, standardized governance, and automated reporting. With dynamic dashboards and financial projections, teams can align stakeholders and accelerate project approvals. By eliminating manual spreadsheet tracking, SilkFlo enables organizations to scale their tech efforts efficiently, ensuring leadership has the visibility needed to invest in high-value opportunities - whether automation, AI or agents. Designed for seamless user adoption, SilkFlo turns fragmented innovation efforts into a scalable, repeatable process.
Proven IT is an IT consulting firm that operates in three locations: Illinois, Indiana, and Arizona. The company's key function is to tackle common business and workflow challenges through a range of services like Managed IT Solutions, Office Technology, Content Management Software and Hardware. Additionally, Proven IT provides a managed solution to oversee the present print environment. The company is family-owned and has a national presence spread over 200 service centers across the US, Canada, and Mexico. Proven IT was established by John Cosich, an experienced professional in the office equipment industry, and is managed by a team with over a century's combined industry experience. The company carries out sales, service, and support, carrying top-of-the-range products from brands like Xerox, Canon, and Toshiba. Proven IT works with the aim to boost the success of businesses by understanding their unique document and workflow needs and offering systems and services that increase efficiency, cut costs, and streamline document workflow.
Gartner Research
Features of IT Financial Management Tools
Mandatory Features:
Reports and consolidating views of IT spend — Include, but not limited to, sourcing, platform, vendor, function, software, services and consumption
Data aggregation of all IT spend and consumption data —Generally from one or more general ledgers
Standardization of allocation logic methods, calculations and consumptive data inputs — Used to allocate spend data against a cost model
Budgeting, forecasting and planning
Cost model development — The data structure that defines the most important views of IT spend to the business and IT spend analysis
The import and normalization of consumption data — The integration of consumption tracking and resource utilization data used to replace or augment allocation logic