Flexera Innovations Drive Technology Value Optimization to New Heights in 2023
At the forefront of the FinOps market, Flexera One receives unparalleled customer and industry recognition
Itasca, IL - March 6, 2023 Flexera, the company that helps organizations maximize business value from their technology investments, today announced recent industry recognition of Flexera as it redefines how enterprises manage IT costs and accelerate digital transformation.
Flexera’s flagship platform, Flexera One, is the first of its kind: a platform that delivers the power to mitigate risk, reduce costs, and maximize every technology investment. It offers technology value optimization (TVO) through IT visibility, IT asset management (ITAM), cloud cost optimization (CCO), and cloud migration and modernization. Flexera One enables enterprises to take control of their cloud journey with:
- Definitive technology resource data: Flexera One offers comprehensive and normalized cost visibility into the data center, SaaS and cloud through unique discovery and the unmatched Technopedia catalog of IT product reference data.
- Consumption intelligence: Flexera One provides savings on licensing costs by applying use rights and rightsizing investments. Internal Flexera customer research has found that customers save more than 30 percent with this approach.
- Automated portfolio governance: Flexera One continually optimizes business agility through automated cost optimization and feeding compliance and cost data into other IT solutions via outbound and inbound APIs.
- Hybrid IT optimization: Customers leverage Flexera One's data to optimize their complex IT estates that span on-premises, SaaS, containers, and cloud. This enables a holistic approach to negotiations with major vendors, including Microsoft, IBM, Oracle, Salesforce, AWS and SAP.
Recognition of Flexera One’s impact:
- ROI of more than 400 percent for Flexera One: Flexera recently commissioned a Forrester Consulting Total Economic Impact™ (TEI) Study of the Flexera One solution. Forrester took a multistep approach to evaluate the impact Flexera One can have on an organization, from mitigating risk and reducing costs across the hybrid estate to maximizing technology investments. Forrester’s findings (comprised of interviewee feedback and study results) concluded that, for a composite organization, the three-year financial impact could be:
- Benefits of $20.57 million versus costs of $3.9 million
- Net present value (NPV) of $16.6 million
- ROI of 421 percent and payback within six months
- 2x performance of Flexera One IT Visibility: Flexera launched new performance enhancements for Flexera One IT Visibility, which provides full detailed visibility into the technology estate. These have increased performance by nearly 100 percent. When it launched the digital platform conductors (DPC) category, Gartner identified Flexera One among the handful of vendors in the introduction of the category. A DPC tool coordinates the various infrastructure tools used to plan, implement, operate and monitor underpinning technology and services for applications and digital products. Flexera One IT Visibility can be applied to business service mapping, CMDB data quality, data normalization, end of life/end of support services, integration to IT business systems, and application rationalization.
- Reduction of shelfware by half, through FinOps + software asset management (SAM): In the August 2022 Market Guide for Software Asset Management Tools, Gartner® wrote, “By 2025, organizations with integrated SAM and FinOps functions will report 50 percent less SaaS shelfware than those with separate functions. By 2026, 40 percent of organizations will default to utilizing continuous SAM managed services from third parties for at least part of their rapidly expanding and increasingly complex software estate.”
- Growth of Flexera One Cloud Cost Optimization by one third: Forrester Research positioned Flexera as a leader in The Forrester Wave™: Cloud Cost Management and Optimization, Q3 2022 with the highest score in the current offering category. From Forrester’s evaluation of Flexera, “Since 2020, the company’s presence has grown by almost one-third, with over 95 percent of its customers as enterprises with significant cloud spend. Flexera has established a massive partnership with tech giant IBM, which acquired Turbonomic last year. This enables IBM to include Flexera One in its product offerings.” The Forrester report also states, “Flexera is relevant for customers looking for a large portfolio that includes license management and leading-edge optimization recommendation capabilities.”
- Leadership in the global cloud economics industry: Frost & Sullivan recently researched the cloud economics industry and recognized Flexera and its flagship platform Flexera One with the2022 Global Product Leadership Award in the global cloud economics industry.
- Flexera Software Vulnerability Manager excels by combining vulnerability and patch management in a single solution: eSecurity Planet named Flexera Software Vulnerability Manager the “best tool for comprehensive patch management” and CSO Online named Flexera a top vulnerability management tool.
Additional Recognition for Flexera
In addition to the recognition it has received for the quality and value of its solutions, Flexera is recognized by its constituents.
"Northern Trust and Flexera are working together to enable what I call the collaborative quartet: a data model that exists from the sharing of data between IT asset management, IT service management, IT financial management, and procure-to-pay, enriching all four disciplines with business adapters, sharing data between the tools that drive the engine of these four disciplines,” said Jeffrey West, senior vice president, of IT asset management and technology business management (TBM) office director at the Northern Trust Corporation in a conversation with Flexera. "Each set of stakeholders is assured the data they're using is accurate and consistent across business units. The collaborative quartet creates a pool of consistent, reliable data from the golden sources of each discipline by working together and sharing the data needed to fill in each other's gaps. We empower our decision-makers."
Recent recognition includes:
- Flexera customers: As of Feb 16, 2023, Flexera customers had published 71 end-user product reviews on Gartner Peer Insights, more than any other SAM vendor in the past 12 months. Visit Gartner Peer Insights to see a comparison between ServiceNow, Ivanti, and Flexera in the SAM category.
- Best Place to Work status: According to Best Places to Work, nearly 9 out of 10 employees say Flexera is a great place to work, compared to an average of 6 out of 10 for typical U.S.-based companies. In 2023, Flexera was was recertified as a Great Place to Work U.S. for 2023.
- Flexera community: A group of third-party experts awarded the Flexera Community “Bottom Line Savings Rockstar” by Community Platform Khoros.
Flexera saves customers billions of dollars in wasted technology spend. A pioneer in hybrid ITAM and FinOps, Flexera provides award-winning, data-oriented SaaS solutions for technology value optimization (TVO), enabling IT, finance, procurement and cloud teams to gain deep insights into cost optimization, compliance and risks for each business service. Flexera One solutions are built on a set of definitive customer, supplier and industry data, powered by Technopedia, that enables organizations to visualize their Enterprise Technology Blueprint™ in hybrid environments—from on-premises to SaaS to containers to cloud. More than 50,000 customers subscribe to Flexera’s technology value optimization solutions, delivered by 1,300+ team members worldwide. Learn more at flexera.com