Swiss Re has installed a new cost management software that gives the company more transparency of the cost of IT to the business.

The reinsurer has moved from using spreadsheets to installing the SaaS-based software from Apptio, which is designed specifically for managing IT costs in an automated manner. It is deploying the software for its global operations across more than 20 countries.

“Apptio’s flexible, modular platform enables IT, as well as our business customers, to get started quickly by allowing us to easily automate our existing processes, map technology to IT services, and easily integrate financial and operational data.

“It will help us drive even greater cost transparency and value from the IT services we deliver to our internal business customers,” said René Turra, managing director for IT service delivery at Swiss Re.

As well as enabling transparency of IT, Apptio CEO Sunny Gupta said that the software helps Swiss Re improve its IT resource planning in relation to business demands, for example, to calculate how much IT will cost if the business grows.

“Apptio is helping them capture demand from the business for them to better budget and forecast for IT resources,” said Gupta.

Gupta believes that having a clear view of IT costs, and identifying which ones are variable are fixed, is becoming increasingly important as IT becomes more commoditised, for example, with cloud computing.

IT is also a very dynamic part of the business, which is why Gupta said that typical Enterprise Resource Planning (ERP) and Business Intelligence (BI) management tools are insufficient.

“IT is extremely complex. It needs a system that adapts to change, which captures all the business rules specific to IT,” he said.