ITASCA, Ill., Oct. 18, 2024 (GLOBE NEWSWIRE) -- Flexera, the global leader in technology spend and risk management for hybrid IT, today announced it has been named as a Leader in the Gartner Magic Quadrant for Cloud Financial Management Tools.
“There’s incredible opportunity for organizations and MSPs to more efficiently manage cloud spend to fuel business growth and transformation,” said Jay Litkey, Senior Vice President of Cloud Management at Flexera. “Powering the latest AI innovations, cloud services play an even bigger role in the future of many organizations, and there’s a real sense of urgency to get a handle on those costs now. That’s why we developed Flexera’s FinOps offering to address the breadth of organization’s cloud challenges including cloud costs, SaaS application sprawl, and cloud optimization and migration across hybrid IT environments. We believe, this recognition from Gartner validates our strategic direction and continued innovations in FinOps and cloud cost optimization.”
According to the Flexera 2024 State of the Cloud report, the number one cloud challenge enterprises and SMBs are collectively confronting is managing cloud spend. This surpassed security for the second consecutive year. To help organizations tackle their cloud spending and optimization needs head on, Flexera One FinOps provides:
- A unified view and management of all hybrid cloud spend including software running on cloud services and associated licensing
- Automated governance and financial controls to enact and realize cost-savings opportunities
- Convergence of FinOps, IT asset management (ITAM) and SaaS management data
Flexera One FinOps allows organizations and MSPs to gain a comprehensive view into the entire IT environment along with the ability to efficiently manage cost and risk for all technology assets, running on-premises, across public cloud services, within virtual machines and containers.
The evaluation of the 11 recognized vendors was based on criteria that analyzed the company’s overall Completeness of Vision and Ability to Execute and on the quality and efficacy of the processes, systems, methods or procedures that enable provider performance to be competitive, efficient and effective, and to positively impact revenue, retention and reputation.
To learn more about Flexera One FinOps, please visit: https://www.flexera.com/flexera-one/finops.
A complimentary copy of the 2024 Gartner Magic Quadrant for Cloud Financial Management Tools report is available here.
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About Gartner Magic Quadrant Reports
A Gartner Magic Quadrant is a culmination of research in a specific market, giving a wide-angle view of the relative positions of the market’s competitors. A Magic Quadrant provides a graphical competitive positioning of four types of technology providers, in markets where growth is high and provider differentiation is distinct: Leaders, Challengers, Visionaries and Niche Players.
Gartner, Magic Quadrant for Cloud Financial Management Tools, By Dennis Smith, David Wright, Marco Meinardi, Ang Troy, Ken Rothenberger, 15 October 2024
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Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner research organization and should not be construed as statements of fact. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
About Flexera
Flexera helps organizations understand and maximize the value of their technology, saving billions of dollars in wasted spend. Powered by the Flexera Technology Intelligence Platform, our award-winning hybrid IT asset management and FinOps solutions provide comprehensive visibility and actionable insights on an organization’s entire IT ecosystem. This intelligence enables IT, finance, procurement and cloud teams to address skyrocketing costs, optimize spend, mitigate risk, and identifies opportunities to create positive business outcomes. More than 50,000 global organizations rely on Flexera and its Technopedia reference library, the largest repository of technology asset data. Learn more at flexera.com.
