Follow the money: HP tool dissects IT spending

LAS VEGAS – HP Tuesday announced new software designed to help enterprise IT managers better understand IT spending, and industry watchers say the software could help high-tech decision makers better navigate difficult economic times.

[ Related reading: How to cut IT costs without hemorrhaging ]

The company plans to introduce the new application, called HP Financial Planning & Analysis (FPA), as well as upgrades to existing products and services, to an expected 2,500 attendees at its HP Software Universe 2009 event. The stand-alone FPA application is designed to aggregate information from multiple IT, business intelligence and other systems to help enterprise IT managers plan, track and monitor IT spending.

HP also updated its Project Portfolio Management Center (PPM) and added best practices to its Configuration Management System (CMS). In addition, the company will offer services related to IT financial management, according to company executives.

“A lot of financial information on how IT runs is scattered across corporate systems, but not in a way that detailed information can help CIOs make business decisions,” says Robin Purohit, vice president and general manager of software products at HP Software & Solutions. “The process today is extremely manual.”

According to survey data commissioned by HP, 70% of 200 IT leaders polled by PBS Research stated that IT demand will outpace budget for the foreseeable future. More than 40% said they still lack investments in portfolio management, which might help to better align IT decisions with business priorities. Two-thirds of those polled said they consider IT spending transparency very important to the business, but only 44% said business stakeholders were satisfied with IT spending transparency.

HP says FPA can provide such transparency by removing the manual steps required to aggregate data. The software integrates with existing HP products and automates the process of gathering data from asset management, business intelligence, ERP and other systems. It analyzes the data and provides reports that, for instance, compare actual spend with planned spend.

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