SOURCE: Apptio

Apptio

August 17, 2009 13:30 ET

Marquee Companies Choose Apptio as Best in Class IT Financial Management Solution

Apptio's IT Financial Management Software Helps Enterprise IT Departments Improve Their Cost Efficiency

BELLEVUE, WA--(Marketwire - August 17, 2009) - Apptio, the leading provider of on demand IT Financial Management software, today announced it closed several key customers in the second quarter of 2009. Cisco, Purdue University and Saint Luke's Health System represent a small sample of new clients that selected Apptio to achieve greater visibility into the cost and utilization of their IT operations and provide the business with a true Bill of IT.

Apptio's IT Financial Management software enables IT and finance teams to understand the cost structure of IT services, down to the most granular unit level, and use that knowledge to optimize operations and maximize ROI. Apptio allows IT to more effectively communicate the value of IT to company business leaders, and drive decisions that validate initiatives like virtualization and cloud computing.

"IT Financial Management is a top priority for today's enterprises, and many successful businesses are turning to Apptio to understand how to optimize their IT investments," said Eric Berg, vice president of product management and marketing at Apptio. "Apptio is the only solution designed from the ground up to analyze the fully loaded cost of an IT service and identify ways to improve IT performance. As a result, CIOs can improve IT's cost efficiency and shift more of IT's resources to pursuing strategic business initiatives."

About Apptio

Apptio is the leading provider of on-demand IT Financial Management solutions. Apptio's IT Financial Management solutions provide greater visibility into the cost, utilization and operations of IT products and services so that businesses can identify ways to reduce IT costs, make better IT decisions and provide the business with a true Bill of IT. IT organizations such as Blue Cross Blue Shield of Kansas, BNP Paribas, EMD Chemical and Starbucks use Apptio's IT cost analysis capabilities to reduce cost and achieve greater visibility into their IT costs and cost drivers. Apptio is privately held, backed by Greylock Partners, Madrona Venture Group, Marc Andreessen, Ben Horowitz, Ignition Ventures and Shasta Ventures. For more information, please visit www.apptio.com.

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