In the latest Market Guide for IT Financial Management Tools published by Gartner, USU has been listed as an Emerging vendor for IT Financial Management (ITFM) software. The Market Guide profiles 16 software providers worldwide based on the Gartner specific inclusion criteria.
Strategic Importance of ITFM Continues to Grow
According to the latest Gartner report, “Gartner IT Score maturity data confirms that ITFM tools remain limited in adoption. ITFM tool vendors are relatively mature, with an estimated 15% to 18% penetration rate, while users in the market are still maturing. The market grew by 16.7% in constant currency during 2023, as compared to 2022. Gartner data suggests that the market will grow at a compound annual growth rate of 11% in constant currency between 2023 and 2028. ”
Better Spend Transparency and Cost Controls Through ITFM Tools
Gartner recommends CIOs looking to add purpose-built tools to support and enhance ITFM practices should start by:
- Validating their ITFM mandate, determining the primary audience and what questions are being answered.
- Securing executive and stakeholder buy-in. CIOs, along with the CFO and even key business leaders, should support, fund and take ownership of the ITFM tool initiative’s success.
- Rationalizing processes and skills before buying tools. CIOs should understand the true resource requirements to set up and maintain the tool. Tools will not eliminate the need for or offset the lack of good processes and skilled people. Well-implemented ITFM can help validate and improve processes and increase the ITFM talents’ capabilities and skills.
Johannes Biesing, Vice President Product Management at USU, states:
“We think that being included in the Gartner Market Guide for IT Financial Management Tools highlights our strong position in the ITFM market. Internationally operating companies such as Bosch are enabled to gain transparency and control over their IT costs and to make the value contribution of IT measurable by using our ITFM software. With our software products and services for IT Financial Management and FinOps, we offer customers a future-ready platform that meets the demands of modern IT financial control – from traditional ITFM to cloud cost management and FinOps strategies.”
The Gartner report Market Guide for IT Financial Management Tools, published on April 28, 2025, by analyst Robert Naegle, is available at https://www.gartner.com