Seattle-based Apptio pioneered the Technology Business Management (TBM) category, which is estimated to have a $1+ billion market opportunity. The company is the brainchild of serial entrepreneur, Sunny Gupta, and is led by industry veterans from leading enterprise IT companies including as Opsware, HP, IBM and Symantec. The company was founded in 2007 and has received a total of $41 million in funding from Madrona Venture Group, Greylock Partners, Ignition Partners, Shasta Ventures, Cisco, Andreessen Horowitz and a handful of prominent angel investors.
Apptio’s vision is to arm enterprise CIOs with a new set of solutions and methodologies to understand and manage the value IT is delivering to the business. The company has quickly earned a reputation as the leading provider of on-demand TBM solutions that enable IT leaders to manage the cost, quality and value of IT services. Apptio`s TBM solutions play a critical role in helping the Global 3000 understand and optimize the cost of IT operations, provide transparency and alignment on the cost and quality of IT services, and manage the financial performance of cloud and other key technology initiatives.
Over the last year, Apptio has dramatically grown its customer base to include such household names as Facebook, Clorox, Bank of America, Boeing, and Alaska Airlines. Based on these high profile customer wins and the company’s explosive growth, Apptio has significantly expanded the amount of IT spending under its management to over $50 billion. This represents an increase of over 600% since 2009. Apptio has also broadened its Technology Business Management solution to include five key products, including Budgeting & Forecasting, Service Costing, Bill of IT, Service Quality & Utilization, and IT Benchmarking.
Since the company’s inception it has set out to build a best-of-breed, easy to use solution designed to manage the cost and value of IT service, while delivering immediate value and superior ROI. To achieve this goal, Apptio’s unique approach includes:
- A comprehensive, purpose-built approach to managing the business of IT: Apptio was built from the ground up specifically targeting the financial management needs of enterprise IT organizations. From basic budgeting and forecasting, to activity based costing of IT services with rich, interactive reporting, to allocation and reporting of IT costs via a “Bill of IT”, Apptio`s suite of TBM modules deliver actionable intelligence to the enterprise CIO.
- Flexibility to handle data, wherever and whenever: with support for both top down and bottom up activity-based financial modeling, and patent-pending intellectual property that automatically identifies relationships in data from otherwise disparate sources, Apptio works with what data users have today, and helps mature to the TBM processes customers want to have tomorrow. No upgrades required. Apptio integrates with current ITSM and corporate financial systems, and can maintain key rates and assumptions that otherwise exist only in spreadsheets.
- Intelligent software that’s easy to use: from the patent pending data inference technology to the easy-to-use visual modeler to the interactive reports that are easily edited and enhanced, Apptio`s software delivers innovation that works hard, so users don`t have to. Data integration can be automated. The allocation model adapts as data sources change over time. Allocation strategies and rules are specific to IT. And any unwanted change by any user can be rolled back with only a mouse click.
- Low upfront investment and quick time-to-value: on-demand solution requires no upfront hardware and software investment. By leveraging the out-of-the-box templates and intelligent data inference technology customers can quickly increase financial transparency and steadily improve both visibility and decision making across IT.
- Democratization of business intelligence: whether you call it ‘next generation BI’ or customer focused development, Apptio is designed to empower every decision maker in IT with the intelligence to make better decisions. This means cost optimization can start at the grass roots level effecting massive and lasting change. ‘What If’ scenario planning helps analyze the ROI of big projects, providing the justification needed to push smart projects forward. And easy-to-use business intelligence reports provides domain experts deep understanding of their fundamental cost drivers and early alerts to increasing cost trends.