Flexera Launches Technology Intelligence Platform to Bridge ITAM and FinOps, Tackling Emerging Hybrid IT Challenges with New System of Insight

Worldwide 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 than ever, increasing organizations’ concern of wasted spending and potential security risks. A recent report suggests that less than 50% of organizations have complete visibility of their IT environments². This growing visibility gap is driven by disparate buying centers, changing vendor pricing and licensing models, inconsistent and incomplete data sets, increased purchases from cloud marketplaces and more.

"Hybrid IT isn't getting any easier,” stated Jim Ryan, President and CEO at Flexera. “Organizations 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 advanced analytics engine and a modern data lakehouse. Flexera’s Technology Intelligence Platform is powered by Technopedia, the world’s most expansive enriched 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 ongoing innovations to cultivate more ITAM, FinOps and SaaS management data that address advanced use cases like cloud license management and GreenOps.

Breaking down barriers across ITAM and FinOps data
Flexera One IT Visibility provides organizations with comprehensive visibility into their hybrid IT environment and allows you to surface details on end of life, end of support and software vulnerabilities to minimize risk, duplicate application usage to address wasted spend, monitor carbon emissions and report on compliance or regulatory standards to better meet corporate sustainability goals and more.

The latest Flexera One IT Visibility release delivers:

• A unified data model for technology assets: Gain a comprehensive and consistent picture of your technology ecosystem, including relationships between technology assets.
• An advanced analytics engine: Support data-driven decisions with scalable reporting and advanced visualization using Microsoft Power BI.
• Enhanced extensibility: Ingest and transform your own data with flexible GraphQL APIs to feed clean, enriched inventory data to other business systems.
• Accelerated data pipeline to ServiceNow: Deliver and send clean, normalized data to your ServiceNow CMDB or other IT ecosystem tools faster than ever before with new API integrations.

“Silos across technologies and departments create blockers not only for IT, but for entire organizations,” 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 will gain access to the Technology Intelligence Platform as part of their existing subscription.

For more information on the Technology Intelligence Platform, please visit: https://www.flexera.com/products/flexera-one/technology-intelligence-platform.

More Resources

• Webinar: Flex your visibility into strategy: Harness the power of hybrid ITAM and FinOps
• Blog: Flexera unveils Technology Intelligence Platform to bridge ITAM and FinOps
• Video: Welcome to Flexera One IT Visibility with Technology Intelligence Platform
• Solution Brief: Reimagine ITAM and FinOps with Technology Intelligence Platform

Sources
¹ Gartner, Gartner Market Databook, 2Q24 Update; 28 June 2024
² Flexera, 2024 State of ITAM