Apptio is a company that specializes in IT financial management, helping organizations manage and optimize their technology spending. The company serves a wide range of clients, including large enterprises like Micron and public sector entities such as Newport News. Apptio operates in the IT financial management market, which focuses on helping businesses understand and control their technology costs.

Apptio's business model revolves around providing software solutions that automate and simplify the budgeting, forecasting, and financial planning processes for IT departments. Their products offer detailed visibility into budget line items, enabling cost center managers to make informed decisions. For example, Micron uses Apptio's tools to eliminate budget variances and transform its IT culture by leveraging self-service automation. This allows them to simplify quarterly budgeting and forecasting, as well as the annual budgeting cycle.

The company also helps clients manage their investments in Agile projects, reducing cost overruns by up to 40% and speeding up resource prioritization by up to 80%. Newport News, for instance, used Apptio's Technology Business Management (TBM) framework to increase its transformation spending from 5% to 24%.

Apptio makes money through a subscription-based model, where clients pay for access to their software solutions. These solutions include Financial Management, Cloud Management, Hybrid Business Management, and Agile Investment Management. The company also offers professional services, webinars, and a community support platform to help clients maximize the value of their investments.

In summary, Apptio helps organizations optimize their IT spending, improve financial transparency, and manage technology investments more effectively.

Keywords: IT financial management, budgeting, forecasting, cost optimization, Agile projects, cloud management, hybrid business, financial transparency, technology investments, subscription model.