Product News: Software
Portfolio Management Software facilitates IT evaluation.
Press Release Summary:
May 20, 2014 - Extending beyond application portfolio management, HOPEX IT Portfolio Management (ITPM) helps companies evaluate each of their technology components in context of how they support organization's strategic goals, business activities, and customer connections. Companies gain structured method to move through 3 critical phases of portfolio management: inventory, evaluation, and transformation. This helps reduce IT expenses and ensures business needs are met on timely basis.
Original Press Release
MEGA Introduces IT Portfolio Management
Press release date: May 12, 2014
Solution helps companies meet business needs, navigate transformation initiatives and reduce enterprise complexity
BOSTON — MEGA, a leader in enterprise governance software solutions for the Global 2000, today introduced a new offering for comprehensive IT portfolio management.
HOPEX IT Portfolio Management (ITPM) extends far beyond the traditional practice of application portfolio management, which looks only at software applications. The HOPEX solution helps a company evaluate each of its technology components in the context of how each supports the organization’s strategic goals, business activities and connections with customers.
“Companies can use this solution to identify and understand the links between business priorities and IT assets, and the dependencies between them, so they can determine the potential effects of change before the change is made,” explained Lucio de Risi, CEO, MEGA. “It is essential for executives to have a rich source of information so they can make well-informed decisions about the business value of technology investments.”
IT portfolio evaluation is based on assessing the business needs of the company alongside the lifecycles and economics of each of the IT system’s technology components. This comprehensive inventory and analysis provides enterprises with the information necessary for them to determine when to acquire, expand, or retire various IT assets.
HOPEX IT Portfolio Management is one of several new solutions built upon the company’s HOPEX platform. HOPEX powers MEGA’s broad range of integrated software solutions that help organizations meet complex, interconnected needs and achieve effective enterprise governance. These solutions help a company plan and manage transformation programs, as well as rationalize and optimize its technology portfolio to reduce costs.
With the new MEGA solution, companies gain a structured method to move through three critical phases of portfolio management: inventory, evaluation, and transformation:
1. Collect application data, identify the risks associated with each technology asset and aggregate information on the multiple components.
2. Evaluate the collected data using assessment criteria, assess functional coverage and alignment with business needs and determine the life cycle for each component.
3. Transform the IT portfolio into one that meets the company’s current and future needs.
By continuously managing an IT portfolio, a company will be able to reduce IT costs and insure that business needs are met on a timely basis. CTOs can assess technology compliance, supervise and control technology vendors that provide IT solutions and rationalize technology use within the organization. Dashboards and global reports, such as the top 10 most expensive, the most risky applications and total cost of ownership (TCO) helps financial controllers manage technology costs and risks, while portfolio managers can analyze TCO by business line, by business capability, or other criteria. A report center gathers all vital reports to speed up decision making.
MEGA has been helping organizations manage enterprise complexity and business transformation for more than 20 years. Customers include Aetna, Banque Accord, HCL, Johnson & Johnson, Nissan, Procter & Gamble, Starwood Hotels, Swiss Federal Railways, UniCredit Group and Walgreens.
The company has been cited in numerous analyst reports on enterprise governance, including EA and GRC topics. Gartner Inc. has named MEGA as a leader in its EA Magic Quadrant reports for five consecutive years and the company has been noted in research by Forrester Research, Inc.
HOPEX IT Portfolio Management is available now.