HP has unveiled Financial Planning and Analysis (FP&A), the first offering in its IT Financial Management (ITFM) portfolio, to help IT executives establish financial transparency and take action in areas where they can optimise costs.
HP said that its new offering will enable chief information officers (CIOs) to run IT like a business and demonstrate the business value of IT services. It brings together software and services to provide visibility, governance, accountability and predictability to IT finance.
FP&A combines a financial planning and analysis capability linked to a financial data model. It consolidates financial information from project, asset and configuration management systems, and enterprise resource planning (ERP) software.
This approach reportedly provides CIOs the visibility of the total costs of a business service, thus enabling to reduce variances between planned and actual spending and allows allocating IT costs to the consumers of IT services.
The company also claims that its new software automates the process of consolidating financial information across labour and technology assets for enhanced financial analysis.
The new software 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.
The company has also introduced a new version of HP Project Portfolio Management (PPM) Center 8.0 software with enhanced financial and resource management capabilities to help customers manage IT projects and resources.
