Apptio, the leading provider of cloud-based Technology Business Management software, announces two new applications, Apptio Project Financial Planning and Apptio Services Demand Planning. These applications extend the capabilities of Apptio IT Planning Foundation and enable IT leaders to align investments in IT projects and services with business demand. Together, these capabilities give a holistic, multi-year view of run and grow investments so IT leaders can identify the most effective way to meet business needs.

According to a recent Apptio survey of more than 120 senior IT professionals, only 22 percent of respondents are able to accurately budget and forecast IT service demand costs. In addition, only 36 percent of surveyed IT leaders are confident that their budget aligns to the business priorities. And yet, 68 percent of IT leaders believe that delivering value to the business is their highest priority for 2017. This fundamental breakdown in the way businesses consume technology, and how IT organizations plan for it is central to the challenges facing most IT leaders today.

"One of the primary challenges we face in IT financial planning is creating a single view of our investments across resources, services and innovation," said Stephanie Rendon, Director of Finance, Information Management at CHRISTUS Health. "Today, for instance, we can't provide a combined view of operational and investment costs for both projects and services."

Apptio addresses these and other challenges with two new additions to its IT Planning product portfolio. Apptio Project Financial Planning enables IT to proactively manage the full lifecycle of project costs, with visibility into project build and run costs to understand the impact of projects over time on the operational budget. Apptio Service Demand Planning enables IT to create demand-driven budgets, forecast service costs for predictable IT charges, and drive P&L ownership for IT services. The IT Planning product portfolio empowers IT leaders to holistically manage IT investments, analyzing the impact of tradeoffs between run and grow, and aligning IT spend with business objectives.

"Budgeting and planning can be viewed as just a tactical, time consuming exercise," said Ted Kummert, EVP of Engineering at Apptio. "These new applications raise planning to a strategic level where IT leaders can actively manage their portfolio of investments, making decisions about the mix of run vs. grow and engaging with leaders across the business to align investments with business needs."