New Delhi: unveiled a solution in its IT financial management (ITFM) portfolio to help IT executives establish financial transparency and take action in areas where they can optimize costs.

The HP financial planning and analysis (FP&A) solution enables CIOs to run IT like a business and demonstrate the business value of IT services. The solution brings together software and services to provide improved visibility, governance, accountability and predictability to IT finance.

HP FP&A is the first offering in the HP ITFM portfolio designed to help IT organizations use business analytics to improve decision making, operate efficiently and better align with the rest of the business. This transforms IT into a performance-based, metrics-driven organization.

In a recent survey of more than 200 IT leaders worldwide, nearly half of the respondents said they lack investment rigor and have no form of portfolio management in place for aligning IT investment decisions to business priorities. In addition, while 66 percent of senior IT leaders said IT-spending transparency is 'very important' to their business stakeholders, only 44 percent reported that their stakeholders are 'very satisfied' with their organizations' spending transparency.

HP also announced a newly enhanced version of HP Project Portfolio Management (PPM) Center 8.0 software with improved financial and resource management capabilities. This helps customers more effectively manage IT projects and resources.

The offerings are being demonstrated this week at HP Software Universe 2009, the company's annual customer and partner event focused on its software business.

Additionally, consulting services supply best practices to integrate data from multiple sources, providing better business insight.

“Customers can achieve successful IT financial management with HP's market-leading software products and recognized consulting expertise in business intelligence, service management and IT software implementation,” said Kamal Dutt, Director-HP Software & Solutions, HP India.

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