For CIOs, now an IT Cost calculator from HP

NEW DELHI, INDIA: HP today announced a customized HP Financial Solution Analysis for enterprise clients to analyze both direct and indirect costs associated with IT solutions.

The information is used to help clients make better financial decisions and gain maximum value from their IT investment strategies.

Offered through HP Financial Services, the company’s leasing and life cycle asset management services division, HP Financial Solution Analysis develops data for chief financial officers (CFOs) and chief information officers (CIOs) to use in evaluating the merits of competing IT investment approaches and methodologies.

To accomplish this, the solution analyzes the full spectrum of costs related to a client’s IT investment, including expenses for hardware, software, maintenance, training, energy (power and cooling), applications development, downtime and end-of-life disposition. 

“Organizations need to remove the guesswork from how their capital dollars can be most effectively invested,” said Arindam Chandra, Country Manager, HP Financial Services, HP India. “Working with HP, clients gain valuable insights into refocusing IT investments to support innovation and business growth, versus investing in the operations of an aging infrastructure.”

For enterprise clients, HP Financial Solution Analysis offers a deep dive into their company’s existing infrastructure. This includes cataloging the quantity and type of in-place IT assets, evaluating the remaining book value, identifying internal IT users and their needs, as well as benchmarking IT-related expenses.

Through the HP Financial Solution Analysis, organizations can find ways to reclaim funds that are trapped in operations and shift resources and expense from operations to innovation, adds the press release.

“IT investment is a major piece of most enterprise companies’ budgets,” said David Mitchell, senior vice president for IT Research at Ovum, a leading global technology research firm. “Identifying hidden costs and false economies associated with maintaining older IT equipment can help CFOs and CIOs prioritize competing demands for capital. For example, while companies usually fund IT acquisition from a centralized source, ongoing costs — power and cooling costs, maintenance, software updates, among others — are decentralized and typically never seen at the corporate level.”

Upon completion of the analysis, HP Financial Services works closely with clients to develop and deploy a technology solution that best meets their needs. As an asset management services company, HP Financial Services enables clients to intelligently and economically manage their business technology investment across the full IT portfolio — from planning and acquiring technology to replacing and retiring it.