AUSTIN, TX--(Marketwired - Jun 3, 2014) - Upland Software Inc., a leading provider of cloud-based enterprise work management software applications, announced today the latest release of its ComSci software application for IT Financial Management (ITFM). Continuing Upland's focus on ensuring IT management professionals have the accurate financial insight required to effectively deploy new technologies and run IT as a business, the ComSci Spring 2014 release provides deep visibility and control into technology cost drivers by delivering advanced reciprocal cost modeling, dynamic cost allocation automation, and expanded role-based analytics.
Robert J. Svec, General Manager of ComSci, commented, "Technology utilization and consumption have a tremendous impact on an organization's overall cost of doing business. Furthermore, moving from traditional fixed-cost technology infrastructure to the variable costs associated with cloud computing makes user requirements and the associated costs even more challenging to manage. The latest version of our ITFM software ensures both IT and business managers have the actionable information, particularly accurate technology financial data, they need to optimize strategic technology decisions for their enterprises."
Recognizing that there is a real need in the growing ITFM market for a highly accurate, simple-to-use cost modeling tool that can help manage the increasing complexity of technologies deployed in enterprises, the new ComSci Spring 2014 release includes a reciprocal cost modeler that can be used in concert with existing corporate financial systems. It enables companies to easily establish unit rates for the technology products and services that are delivered to both internal 'corporate' technology consumers and external customers. ComSci's new cost modeling capability simplifies and automates the establishment of business rules to create dynamic cost models. It incorporates 'reciprocal' cost modeling techniques to create an efficient means of mapping all cost drivers to the corresponding technology products and services delivered within the enterprise. Using the reciprocal cost modeling feature also ensures accurate unit costs are used to benchmark against peer groups or 3rd party cloud services, as well as provide the base metrics needed for predictive analytics and automated integration with corporate financial systems.
Other key Upland ITFM Spring 2014 release features include:
- Enhanced Role-based Analytics capabilities, which facilitate better IT business decision metrics, including application portfolio rationalization and project portfolio accounting. The user experience is further streamlined through the new release's reporting and dashboarding processes, ensuring speedier, real-time insight into key cost, usage and performance metrics.
- A New User Interface that provides streamlined navigation to help improve user adoption and productivity. The ComSci Spring 2014 release features the same consistent, intuitive user experience currently being deployed across all of Upland Software's enterprise software applications.
- An Online Knowledge Center providing best practices tips and how-to knowledge, further enabling ITFM process maturity for clients.
"We are committed to listening to our customers and ensuring their feedback is reflected in upcoming product releases," Svec concluded. "The ComSci Spring 2014 release is a good example of how we've incorporated the enhanced functionality and UI updates that our customers and the broader market are looking for from their IT Financial Management partner."
The ComSci application delivers award-winning IT financial management capabilities that help organizations implement more effective IT governance. ComSci helps IT organizations optimize technology costs by enhancing fact-based transparency and visibility, which in turn enables both IT and business management to understand demand, utilization and value of its corporate technology resources. ComSci's growing customer roster includes ADP, The McGraw-Hill Companies, The Bank of New York Mellon, Whirlpool, NYU Medical Center, NYSE Euronext, Memorial Sloan-Kettering Cancer Center, TIAA-CREF and UBS Investment Bank. ComSci is part of the Upland Software family of cloud-based enterprise work management applications. Visit www.comsci.com for further information.
About Upland Software
Upland is a leading provider of cloud-based enterprise work management software. Our family of applications helps transform how work gets done by enabling better alignment of resources with business objectives, real-time visibility, and increased governance and collaboration, resulting in improved productivity and business agility. From strategic planning to work execution, Upland helps more than 1,200 enterprise customers with 300,000 active users in over 50 countries drive results for critical business functions including information technology, marketing, finance, professional services, and process excellence. For more information, visit www.uplandsoftware.com