Roanoke, VA – May 07, 2024
Nicus Software, Inc. (Nicus), a leading provider of enterprise IT Financial Management (ITFM) solutions, today announced the release of Nicus Planning on ServiceNow and availability in the ServiceNow Store. Nicus Planning enables organizations to efficiently build and maintain detailed IT budgets and forecast with speed and accuracy natively on the ServiceNow platform. The result is less time in spreadsheets and more time understanding and demonstrating how IT resources are consumed and the strategic value delivered to the business.
“As a global company with a multi-billion dollar IT budget, we needed an ITFM solution that combined advanced capabilities with the flexibility to support our ever-changing business requirements.” says a Fortune 500 Nicus customer. “In our view, Nicus is the only ITFM solution with the flexibility and performance at scale for large enterprises, running natively on ServiceNow.”
Nicus Planning delivers a number of core benefits to IT teams such as the ability to accelerate decision making, reduce error with a defensible “source of truth”, and trim waste to fund growth. It does this through a comprehensive set of IT planning capabilities including real-time actual versus variance tracking, vendor, labor and project expense management, budget and forecast process automation and role-based dashboards and insights.
Last year, Nicus released Nicus Cost Transparency for ServiceNow bringing unparalleled visibility into IT spending and actionable insights. With the release of Nicus Planning for ServiceNow, Nicus is the only comprehensive ITFM solution available as a standalone cloud application and running natively on ServiceNow, giving customers the flexibility to choose the deployment that works best for their business.
“Our intent with Nicus Planning for ServiceNow was to be easy to use and highly performant even with large and complex data sets.” says Janie Longfellow, Nicus Chief Product Officer. “We offer significant flexibility to tailor the data collected and required for any business.”
Given the demand for an enterprise-scale IT financial management solution for ServiceNow, the Nicus team achieved a number of firsts on the platform. These include:
“IT Financial Planning is a critical need for many ServiceNow customers as they work to ensure they are delivering the best IT value to the business” says Nicus CEO John Clark “With some significant ServiceNow customers already committed to the Nicus Cost Transparency application, we are excited to work alongside ServiceNow to bring Nicus Planning to their customer base and offer a truly enterprise-scale ITFM suite running natively on ServiceNow.”
According to Analyst Group Gartner, the market for ITFM software solutions continues to grow as CIOs are challenged to secure new project funding and justify existing run spend. “Spreadsheets are still the predominant tool used to manage IT finances. However, as the demands for more detailed, frequent analysis increase, these highly customized spreadsheets are replaced by ITFM tools” says Gartner Analyst Robert Naegle. “In the past 18 months, the primary driver of interest in ITFM tools has been the business stakeholders’ and executive leadership’s need for views of spend. This trend is likely to continue due to the ongoing economic pressures and the need to secure and defend IT budgets.”
Organizations interested in finding out more about Nicus Planning for ServiceNow and the full suite of IT Financial Management applications, can reach out to the Nicus ITFM team for further information at www.nicus.com.