IBM named leader in Gartner's cloud finance tools report

IBM has been acknowledged as a Leader for its IBM Cloudability product in the 2024 Gartner Magic Quadrant for Cloud Financial Management Tools, as announced by Apptio, an IBM company.

IBM has been rated highest in several areas including Financial Risk Management, Forecasting and Estimation, and Driving Business Value Use Cases in the 2024 Gartner Critical Capabilities for Cloud Financial Management Tools.

The recognition highlights IBM's effectiveness in providing a service that is suitable for strategic adoption, indicating that their offerings can serve a wide range of use cases. However, as noted by Gartner, Leaders in this sector, while possessing an appreciable market share and a significant number of referenceable customers, are not necessarily the leading providers for every specific need.

Ajay Patel, General Manager of Apptio & IT Automation, commented on the achievement, "We have consistently put innovation at the forefront of our roadmap as we look to support our customers in an evolving technology landscape. It's no secret that technology advancements in AI and cloud, are requiring businesses to not only be agile, but efficient and precise when it comes to their technology budgets. We believe this recognition by Gartner is a proof point of our commitment to meeting our customers needs not only today, tomorrow and beyond."

IBM Cloudability is designed to enhance financial accountability in cloud environments, aiding IT, finance, and DevOps teams to optimise cloud deployments in terms of speed, cost, and quality. It aims to improve the unit economics of cloud usage and translate cost and operational data into indicators of business value regarding cloud investments.

Apptio, an IBM company, is a technology spend and value management software provider. Apptio's AI-powered data insights is designed to empower leaders to make smarter financial and operational decisions across Information Technology (IT), multi-cloud FinOps, and digital product development.

Apptio's mission is to deliver business value with every technology investment and team. Powered by the company's cloud platform, Apptio's SaaS applications help translate technology spend into clear business outcomes and financial ROI. Across Technology Business Management (TBM), FinOps, and Agile Portfolio Management, Apptio works with thousands of customers, partners, and community members worldwide.