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Nicus Acquires Proven FM: What It Means for IT Finance Leaders

Nov 17, 2023 | By Gavin Drake

Organizations looking for comprehensive IT financial management (ITFM) and technology business management (TBM) services now have a one-stop shop for ITFM and TBM software, services and strategy, thanks to the recent acquisition of Proven FM by Nicus.

The move comes after several years of partnering together to help clients uncover IT inefficiencies, communicate the value of ITFM and maximize the impact of their IT investments.

Proven FM is led by Craig Hollenbeck, founding partner and principal consultant, and Bryan Morland, senior partner and director of delivery. Hollenbeck and Morland bring decades of experience in ITFM and TBM consulting and managed services for blue-chip clients, complementing the industry-leading capabilities of Nicus Software.

So, what does the acquisition of Proven FM add to Nicus, and what does it mean for clients?

For companies needing help managing their ITFM and TBM programs, it means having access to a new suite of services—and an expanded team of experts dedicated to their success.

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Connecting the Dots between IT and Corporate Finance

One major obstacle for ITFM and TBM practices is the fact that corporate leadership doesn’t always understand the true impact of IT spend. Equally challenging is that most finance leaders don’t know how to structure their ITFM programs in a way that delivers on their goals. Proven FM has built its reputation on moving the needle in both areas, making the acquisition a natural fit to help Nicus better serve its customers.

“It’s incredible how much IT finance drives the business, but the C-suite isn’t connected to it,” says John Clark, Nicus CEO. “Craig is the expert in making that connection in business terms, not IT language.”

Hollenbeck points out that ITFM isn’t a native skillset, and companies need a proven methodology to avoid pitfalls that inadvertently set up companies for failure.

“You really have to help people understand how their challenges connect back to ITFM and TBM, and what levers they can pull that will actually achieve their goals,” says Hollenbeck.

He uses the example of a company that structures their cost model in a way that creates false levers that don’t end up driving the intended results. When teams go through the pain of transitioning systems in order to achieve savings that never materialize, it calls into question whether ITFM is worth pursuing at all.

“This can put ITFM and TBM programs themselves on the chopping block, when they’re actually the key to knowing where to make the right cuts,” says Clark.

A Proven History of Client Wins

The acquisition of Proven FM is the result of a long history helping blue-chip companies navigate the complexity of ITFM and TBM. What makes Hollenbeck’s team unique is their corporate finance experience, which gives them an insider’s perspective on the challenges of leaders whose buy-in is vital to success.

“Both Craig and Brian have been on the other side of the table when it comes to implementing ITFM and TBM,” says Clark. He notes that for several clients, including Fortune 500 companies, Hollenbeck’s input was a game-changer in driving ITFM forward.

“Craig’s proven approach and methodology was the critical factor in getting people to think about ITFM and TBM differently,” Clark says.

For Hollenbeck, teaming up with Nicus means the ability to combine his comprehensive methodology with what his team considers the best ITFM and TBM software solution on the market.

“We firmly believe everybody needs software to do ITFM right. That’s why we’ve partnered so closely with Nicus in the past,” says Hollenbeck. He points out that Nicus has the ideal mix of out-of-box functionality and flexibility to make sure the solution achieves a company’s goals.

Hollenbeck says his laser focus on accuracy—also a core differentiator for Nicus—is the key to having credible, responsive and defensible data for IT decision-making.

“Nicus excels at processing large amounts of data in detailed fashion, so you know exactly which surgical decisions you can make to effect real results.”

Acquisition Brings New Services to Nicus Customers

The addition of Hollenbeck and his team means Nicus has expanded its service offerings to include:

“More than just software, Nicus now has the ability to give clients both the people and the outcomes they need to be successful with ITFM and TBM,” says Clark.

Learn more about Nicus’ acquisition of Proven FM

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