Flexera, a company specialising in technology spend and risk management for hybrid IT, has announced its Technology Intelligence Platform powered by Technopedia®, its next-generation data and analytics platform for Flexera One. The Technology Intelligence Platform is a ‘system of insight’ built to solve the new challenges facing IT leaders who seek to bridge the gap between ITAM and FinOps – including cloud licence management and GreenOps – and will be Flexera’s foundation for additional innovation in AI.
IT spending is currently estimated to reach $5.26 trillion in 20241, bolstered by an increase in AI technologies. However, managing technology investments is more complicated and disjointed, increasing organisations’ concerns with wasted spending and potential security risks. A recent report suggests that less than 50% of organisations have complete visibility of their IT environments2. This growing visibility gap is driven by disparate buying centres, changing vendor pricing and licensing models, inconsistent and incomplete data sets, and increased purchases from cloud marketplaces.
“Hybrid IT isn’t getting any easier,” said Jim Ryan, President and CEO at Flexera. “Organisations are struggling to manage spend and risk holistically across their hybrid IT environment as data is siloed across disconnected teams, tools and technologies. This creates a ‘visibility gap’ resulting in wasted money, hidden risks, and missed opportunities in vendor negotiations. The convergence of FinOps and ITAM data is essential to comprehensively managing your technology investments. Today’s announcement lays the foundation for intelligent cloud and on-premises technology spend management, allowing our customers to negotiate with their technology suppliers from position of strength and manage their full hybrid IT estate.”
Unifying data across hybrid IT environments The new Technology Intelligence Platform is built on a unified, extensible data model for technology assets, an analytics engine and a data lakehouse. Flexera’s Technology Intelligence Platform is powered by Technopedia, an expansive technology catalog.
Customers with access to the Technology Intelligence Platform will be able to add their own data, create custom reports, and access their data via API. Flexera’s Technology Intelligence Platform currently supports Flexera One IT Visibility, with innovations that cultivate more ITAM, FinOps and SaaS management data, so addressing advanced use cases like cloud licence management and GreenOps.
Breaking down barriers across ITAM and FinOps data
Flexera One IT Visibility provides organisations with visibility into their hybrid IT environment and allows them to surface details on end of life, end of support and software vulnerabilities to minimise risk, duplicate application use – to address wasted spend, monitor carbon emissions and report on compliance or regulatory standards, so better meeting corporate sustainability goals.
The latest Flexera One IT Visibility release delivers:
A unified data model for technology assets: Gain a comprehensive and consistent picture of a technology ecosystem, including relationships between technology assets.
Analytics engine: Support data-driven decisions with scalable reporting and advanced visualisation using Microsoft Power BI.
Extensibility: Ingest and transform owned data with flexible GraphQL APIs with clean, enriched inventory data from other business systems.
Data pipeline to ServiceNow: Deliver clean, normalised data to ServiceNow CMDB or other IT ecosystem tools quickly with API integrations.
“Silos across technologies and departments create blockers not only for IT, but for entire organisations,” said Brian Shannon, Chief Technology Officer at Flexera. “This is why Flexera is determined to break down the barriers across data, technologies and departments to provide a complete picture of your IT environment. We bring together existing data sources with our extensive reference catalog, Technopedia, to enrich your data and provide the details that matter most to you. These insights are vital to address use cases across ITAM, FinOps, SaaS management and beyond.”
Current Flexera One IT Visibility customers gain access to the Technology Intelligence Platform as part of their existing subscription.
For more information on the Technology Intelligence Platform, visit: https://www.flexera.com/products/flexera-one/technology-intelligence-platform.
Sources
1 Gartner, Gartner Market Databook, 2Q24 Update; 28 June 2024
2 Flexera, 2024 State of ITAM
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