Flexera, a company specializing in technology spend and risk management for hybrid IT, has introduced its Technology Intelligence Platform powered by Technopedia, its next-generation data and analytics platform for Flexera One. The Technology Intelligence Platform is designed to address the evolving challenges faced by IT leaders looking to bridge the gap between ITAM and FinOps, including cloud license management and GreenOps. It will serve as Flexera’s foundation for further advancements in AI.
IT spending is projected to reach $5.26 trillion in 2024, driven by the rise of AI technologies. However, managing technology investments has become more complex and fragmented, leading to concerns about wasted spending and security risks. A recent report indicates that less than 50% of organizations have complete visibility of their IT environments. This lack of visibility is fueled by various factors such as disparate buying centers, changing vendor pricing models, incomplete data sets, and increased purchases from cloud marketplaces.
Jim Ryan, President and CEO at Flexera, acknowledges the challenges of managing hybrid IT environments, emphasizing the importance of holistic spend and risk management. The Technology Intelligence Platform aims to provide organizations with the tools to negotiate with technology suppliers effectively and manage their hybrid IT estate efficiently.
The new Technology Intelligence Platform is built on a unified data model for technology assets, an analytics engine, and a data lakehouse. Powered by Technopedia, Flexera’s expansive technology catalog, the platform allows customers to incorporate their data, generate custom reports, and access their data through APIs. It currently supports Flexera One IT Visibility, offering innovations that cater to advanced use cases like cloud license management and GreenOps.
Flexera One IT Visibility provides organizations with insights into their hybrid IT environment, enabling them to address issues such as software vulnerabilities, duplicate application use, carbon emissions monitoring, and compliance reporting. The latest release of Flexera One IT Visibility includes a unified data model for technology assets, an analytics engine for data-driven decisions, extensibility through GraphQL APIs, and a data pipeline to ServiceNow for streamlined data delivery.
Brian Shannon, Chief Technology Officer at Flexera, emphasizes the importance of breaking down silos across technologies and departments to provide a comprehensive view of the IT environment. By integrating existing data sources with Technopedia, Flexera aims to offer insights vital for addressing various use cases across ITAM, FinOps, and SaaS management.
Existing Flexera One IT Visibility customers will have access to the Technology Intelligence Platform as part of their subscription. For more information on the Technology Intelligence Platform, visit the Flexera website.
Sources:
1. Gartner Market Databook, 2Q24 Update
2. Flexera 2024 State of ITAM
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Tags: cloud, Digital Transformation
