SOURCE: ComSci

ComSci

ComSci

November 07, 2013 14:00 ET

Upland Software Announces Acquisition of ComSci

ComSci's IT Financial Business Management Software Adds Class-Leading Cost Visibility Capabilities to Upland's Family of Cloud-Based Enterprise Applications

SAN DIEGO, CA--(Marketwired - Nov 7, 2013) -  Impact 2013 User Conference -- Upland Software, the world's largest provider of cloud-based enterprise software for project, portfolio and work management, announced today that it has acquired New Jersey-based ComSci, an award-winning leader in cloud-based IT financial business management (ITFBM) software with clients including Goldman Sachs, The Bank of New York Mellon, UBS Investment Bank, and The McGraw-Hill Companies. The announcement was made this morning by Jack McDonald, Chairman and CEO of Upland Software, during his keynote address at Upland Software's Impact 2013 User Conference in San Diego. Financial terms of the transaction were not disclosed.

ComSci's software enables companies to gain an integrated view into costs across all IT resources, which enables better financial governance, enhances cost transparency and visibility and enables business units to better understand and optimize demand and utilization of technology resources.

"This transaction represents the latest step in our commitment to make Upland Software the undisputed global leader in enterprise cloud software for project, portfolio, and work management," said McDonald. "With ComSci's SaaS-based ITFBM application and Upland's cloud-based applications for managing resources and work across the organization, companies worldwide will now be able to manage the entire technology services supply chain -- from strategic planning to work execution -- simply and seamlessly."

Among the critical services ComSci software provides are:

  • Data Management: Delivers primary data acquisition capabilities for the receipt, normalization and integration of disparate utilization and financial data, which can be at a granular level or an "assumptive" level depending upon the maturity level of the IT Financial and Business Management processes.
  • Service Costing: Provides IT product and service cost modeling functionality with visual representation, unit cost/rate generation, benchmarking metrics, analytics and executive dashboards in order to assist clients in providing the most cost effective solution for the IT Services they deliver.
  • Bill of IT: Provides consumption and demand management capabilities so business managers have visibility into the utilization and associated cost of all IT products and services so they can evaluate the financial impact of alternative solutions and make intelligent business decisions regarding their use of IT services. The software also provides managers with the ability to establish demand-based budgeting and forecasting assumptions and evaluate multiple "what if" scenarios based on different business suppositions.

As with previous acquisitions made by Upland Software, the existing ComSci management, development, marketing, sales and client support teams will remain in place and run the ComSci product line within Upland. Upland will continue to invest in the development, marketing, and support of ComSci's products, and all existing Service Level Agreements and support arrangements will remain unchanged.

"We are delighted to be joining the Upland family of cloud-based software products and look forward to being an integral part of Upland's vision to build the world's leading enterprise cloud software provider," said Bob Svec, ComSci's President and CEO. "The synergies of our combined company will provide a complete financial and business management solution that addresses the full scope of issues facing corporate leadership teams today and enables companies to optimize their technology and business investments."

About Upland Software

Upland is the world's largest provider of cloud-based enterprise software for project, portfolio and work management. Upland is the only cloud software provider that offers a comprehensive family of applications that enable organizations to align their goals, projects and programs, optimize their resource utilization and workflows, and empower their teams to collaborate and work effectively. From strategic planning to work execution, Upland is empowering more than 1,200 enterprise clients with 300,000 active users in more than 50 countries to achieve their business objectives more effectively. For more information, please visit www.uplandsoftware.com

About ComSci

Headquartered in Iselin, New Jersey, ComSci delivers award-winning IT financial business management solutions and capabilities that empower organizations to implement more effective IT financial management processes and governance. Through decades of experience, strict adherence to ITIL technology financial management process guidelines and its suite of Web 2.0 IT finance and business solutions, ComSci helps IT organizations optimize technology costs by enhancing fact-based transparency and visibility, which enables IT and business management to understand demand, utilization and value of its corporate technology resources. ComSci's clients include The McGraw-Hill Companies, The Bank of New York Mellon, Whirlpool, NYU Medical Center, 1-800-FLOWERS.COM, NYSEuronext, Memorial Sloan-Kettering Cancer Center, AECOM, and UBS Investment Bank. Please visit www.comsci.com for more information.

About Impact 2013

Impact 2013 is Upland Software's user conference. Taking place on November 7 and 8 at the Hotel Del Coronado in San Diego, the conference is bringing together more than 200 of Upland Software's customers and top executives as well as experts in the area of work management for two days of discussions. Ray Wang, CEO of Constellation Research, will be leading a keynote session about the future of work. Conference sponsors include Fujitsu, Epson, ABBYY, Canon and ProjectManagement.com, For more information, please visit www.uplandsoftware.com/user-conference