ITFM Tool Performance

Several of our clients have used ITFM solutions from other vendors before making the switch to Nicus M-PWR.  When one of our clients was testing their new cost model in M-PWR, they were surprised our model only took a couple of minutes to run.  Their previous software package took anywhere from 13-16 hours to run!  They had to limit data attributes to “improve performance,” which negatively impacted their reporting capabilities.  The tool also required a technical team, within the software provider’s organization, to load the data and make changes to the model, which is not practical for an analyst that needs to turn around cost information quickly.

We often hear from clients that they chose Nicus for our practitioner’s approach.  We’ve been in their shoes before and understand the need to drill into the details to make informed decisions.  For these clients, M-PWR automates data collection and transformation so they can get back to value-add focused work. They shouldn’t have to cut down their data attributes to manage their model’s calculation time.  We may also recommend changes to their cost model during implementation to avoid custom coding and make it easier for their staff to maintain.

Written by: Lauren Fulton, Sr. IT Finance Advisor

Nicus Software 2016 IT Finance Conference

You can’t tell from the picture above but this year’s conference had somewhat of a ‘Saturday Night Live’ theme so I thought I would use another late night entertainment reference to share the highlights for those who missed it.

So, I present the “Top 10 things you missed from the Nicus Software 2016 IT Finance Conference” (drum roll please)…

#10 – Guest presenters: 6fusion sharing views of the future of IT Infrastructure and Thavron sharing thoughts on communicating with business partners.

#9 – Nicus’ own Randy F. getting his feet wet with his first “voice over” gig (a la Saturday Night Live).

#8 – BJ’s Wholesale Club sharing a conceptual vision for a Shared Services Financial Management (SSFM) solution, specifically a single number theory.

#7 – Everyone returning for Day 2 after a night of amazing food and cocktails (some were in better shape than others).

#6 – Various Nicus employees sharing information on M-PWR product development, Client Services, and the IT Planning, Cost Modeling, App TCO, and Bill of IT portals.

#5 – Staples inspiring everyone with their application of M-PWR to capitalize internal labor project costs.

#4 – Conference host Kristie S. poking fun at Nicus’ resident “foodie,” Rob M., with a HILARIOUS picture of a monkey (monkeys are cute, right?)

#3 – Learning about American National’s journey of implementing Service Costing, App TCO, and ABC Costing.

#2 – Optum sharing their exceptional use of M-PWR to provide project cost estimating.

And the number one thing you missed from the Nicus Software 2016 IT Finance Conference (another drum roll please)… 

#1 – Everyone learned a lot about IT Finance over the two day conference and also had some fun along the way… 

Thanks for another wonderful conference!! 

Written by: Kristie Sullivan, Manager

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The Importance of Better IT Data

We recently started working with Tom, who took a job in IT financial management with one of our top clients. In the first conversation I had with Tom, he asked a question I've heard many times: "Who benefits most form the visibility of financial IT?"  Tom was trying to decide if it made sense to share the metrics he found using our M-PWR software. Yes he should share it, because the answer is always the same: Everyone benefits from better data. MPW-R reveals to CIOs and IT managers summary information about financials from their entire corporation. Project managers, portfolio managers and department directors will find more detailed data regarding their specific areas.  Individuals at any level of a corporation can use the data to gain the edge in the marketplace by finding the metrics specific to their needs. We are building a great relationship with Tom and all of our clients because we know how to offer them the solutions they need to be more efficient and better informed about how their costs are affecting their bottom lines.


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Nicus Software Adopts 6fusion kWAC Standard for IT Economic Efficiency

6fusion, the company that helps organizations operate IT like a Utility, and Nicus Software, the leading IT Financial Management (ITFM) solution provider, announced today they have partnered to bring standardized utility economics to the ITFM industry. The alliance extends the functionality of Nicus M-PWR, allowing customers to drive higher efficiency and simplify management models using real-time consumption metrics, enabled by 6fusion’s patented Workload Allocation Cube (kWAC) technology. eBay’s Global IT Organization, an award winning leader in the field of ITFM is among the first enterprise users.

Nicus M-PWR with 6fusion integration creates a common apples-to-apples language for IT Finance and Operations that provides the first truly consumption based comparison of IT spend. By combining 6fusion’s standardized kWAC (Workload Allocation Cube) meter data with Nicus M-PWR analytics and granular tracking, customers can achieve full IT economic transparency, and provide their internal clients with a more accurate means of cost allocation, a simpler Bill of IT, and an actionable IT efficiency score dashboard.

Click here to read the full story.

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Why Details are Important

We recently had a discussion with an IT financial management analyst who asked why an ERP system can’t provide the details needed to effectively manage IT finances. It’s a great question and one we frequently get from prospects. The short answer: traditional financial systems built for accounting are based on principles that deliver acceptable financial statements, but are not designed to deliver insights for effective IT business management.

In financial accounting, the journal entry places exclusive value on the economic classification of business activity represented by the account number. Accounting systems collect this information via the chart of accounts, leaving out valuable management information—the who, what, when, where, and why of operational IT business activities.

Some have tried to remedy this problem by layering additional business intelligence software onto accounting software and operational systems to try to recreate a CIO-relevant view. The only true fix to this problem requires redesigning, reengineering, and eventually rebuilding a new breed of IT financial management software. And that's what we've done at Nicus. M-PWR takes advantage of available detailed consumption, usage, and financial information throughout the enterprise to provide an application designed from creation to support your IT business management needs.

With M-PWR, our customers can aggregate, report, and analyze their IT business information by capturing the who, what, when, and where of activities; therefore, make better informed management decisions. We believe a detailed approach is the only path forward to success.

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