Apptio - Products
Apptio has about eight different product offerings. They include IT Financial Management Foundation, Cost Transparency, Cloud Business Management, Vendor Insights. IT Planning, Business Insights, IT Benchmarking, and Bill of IT. The share of Apptio's business or revenue each product represents could not be estimated. Nonetheless, Apptio's products have been described below.
IT Financial Management
- Apptio introduced this product in February 2018 after buying out Digital Fuel, a technology business management company.
- The product assists in building annual budgets, managing IT spend variance, and forecasting spend shifts.
- Apptio's IT Financial Management foundation helps company leaders eliminate variance.
- The product also assists in minimizing IT budgeting cycles.
- By decreasing budget padding with this product, companies can fully invest in their innovative digital business and fully optimize IT spending.
- With Apptio's IT Financial Management Foundation, businesses can easily identify discretionary funds which helps them improve forecast and accountability.
Cloud Business Management
- Apptio began offering on-demand Technology Business Management (TBM) software in 2010.
- It was not until 2013 that Apptio started calling this software, Cloud Business Management.
- Apptio's Cloud Business Management helps predict cloud spend using accurate resources.
- Through cloud business management, customers can visualize and control consumption and cost across various providers.
- The product uses machine learning-driven optimization to offer storage and data recommendations.
- Through accountability, cloud business management helps companies partner with their cloud customers in order to drive up speed and reduce costs.
- Public cloud spend can also be tracked in multiple environments by using Apptio's Cloud Business Management.
- Cost Transparency is the only product Apptio offered when the company was established in 2007.
- This product helps manage and optimize cost by demonstrating IT value.
- RTB spend can also be optimized for future innovative digital businesses.
- Cost Transparency provides customers with the necessary tools to make informed and feasible staffing decisions.
- Infrastructure trends and costs can be fully understood with the help of Apptio's cost transparency tool.
- In addition, project resources can be aligned to the necessary business priorities.
- According to Apptio, about 5% of a company's total IT budget can be saved by using its IT cost transparency tool.
- Apptio began offering vendor insights by the end of 2018.
- Vendor investments can be fully enhanced for greater efficiency with the help of Apptio's Vendor Insights.
- The tool also helps companies get rid of or avoid redundant contracts by providing a centralized look at their vendor portfolio.
- Committed or budgeted spend can also be effectively managed with this tool.
- With the help of Apptio's Vendor Insights, companies can "avoid overpaying" for services that were outsourced or contracted.
- Apptio introduced IT Planning in 2011.
- Through Apptio's IT Planning, companies can reduce their budget cycle by decreasing or eliminating errors.
- Resources can also be planned for future years with the help of this product.
- Apptio's IT Planning helps IT leaders modify budgets as they see fit.
- It can also be used for strategic plans over the next six years and helps create multi-year scenarios.
- This product was introduced in 2010.
- Apptio's IT benchmarking tool helps companies compare their costs and justify IT spending levels.
- Using feasible benchmark data, areas that need improvement at a company's benchmarking infrastructure can be identified and worked on.
- Using this tool, businesses can also compare their operations to peers with similar spend by revenue, geography, and industry.
- Apptio claims that its benchmarking tool builds "confidence with trusted benchmark data."
- Apptio added Business Insight to its product offerings in 2014.
- Under this product, Apptio offers SaaS Insights, Infrastructure Insights and Application Insights.
- Through Apptio's business insights tool, companies can fully optimize infrastructure and IT investments.
- Servers and platforms which are underutilized can easily be identified with this product.
- Data center waste can also be stopped.
- SaaS license spend and usage can be proactively managed by Apptio's SaaS insights.
- Apptio's Business Insights helps companies focus less on activities and applications that have low impact and more on improvement efforts.
BILL OF IT
- Apptio added Bill of IT to its product offerings in 2008.
- Bill of IT helps IT departments defend their billing.
- It also drives accountability by revealing IT spend by departments, users, and business units.
- Monthly billing is automated with this tool thereby eliminating the labor intensive manual billing.
- IT allocations that cannot be defended can be eliminated with Apptio Bill of IT for better cost transparency.
- The tool also helps drive consumption behavior by getting rid of IT services that are being misused.
- Subscriptions to products like Cloud Business Management make up 82% of Apptio's revenue.
- Apptio claims its customer base includes more than 40% of Fortune 500 companies which have IT spends "ranging from less than $10 million to billions of dollars."
- When Apptio was first established in 2007, its only product was cost transparency solutions.
- By 2009, its cost management solutions product was segmented into Service Cost Management, Business Unit Billing and Demand Management, Service Quality & Utilization Management, and Performance & Cost Benchmarking.
- The company expanded its product offerings to Service Costing, Bill of IT, Budgeting & Forecasting, Service Quality & Utilization, and IT Benchmarking by 2010.
- Apptio started providing technology business management applications such as IT Service Costing, IT Planning, and IT Service Performance in 2011.
- By 2014, Business Insights was added to its products.
Apptio's official website was leveraged to find a full list of its products. The date each product was established was found by using an archive tool. In order to find the share of each product offered by Apptio, we first explored the company's press releases and news provided on its website. There, we were only able to find new product offerings, there was no mention of the share each product generates annually or the number of customers using them.
Next, we decided to examine annual reports published by the company and SEC filings. While these reports revealed the company's revenue by geography, there was no breakdown of revenue by product. We also tried looking for any mention of sales generated by each product but this was a futile attempt. We proceeded to examine data intelligence platforms like Statista and Hoovers. Again, these platforms offered total revenue or revenue by location but there was no mention of the number of customers using each product, revenue or sales by product.
Other research strategies include searching conference call transcripts related to the financial status of the company and financial news reports published by Business Insider among others. Unfortunately, these strategies failed to reveal any information on Apptio's revenue by products, number of customers by product, or the share each product accounts for. We were only able to find an aggregate share of Apptio's products.