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Nicus ITFM Suite

5.0
(3)

Nicus is a leading provider of end-to-end IT financial management and business analytics. It provides a comprehensive set of tools, including IT planning, service costing, benchmarking, bill of IT, application TCO and demand management, which help analyze and manage the business of IT more effectively.

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Nicus ITFM Suite Reviews

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Nicus ITFM Suite review by David D.
David D.
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"AVP IT Finance"

What do you like best?

Easy to use software suite designed for IT Finance professionals. Implementation and support teams are Knowledgeable and professional. Full implementation of the Planning module for Actual, Plan, and Forecast data at the cost center, account, investment (project, applications & services) level in less than three months - amazing.

What do you dislike?

Honestly, I have no dislikes. If an issue has arisen, the Nicus team has always found a solution that works for all involved.

Recommendations to others considering the product

There are multiple products in the marketplace today. Do your research, compare apples to apples before you make a decision. Consider the product suite, development road map and the skill set of the implementation team before deciding.

What business problems are you solving with the product? What benefits have you realized?

Provide our IT and Finance teams insight into IT spend and trends at the account, vendor and investment level,. In addition, create automation around our forecasting and planning efforts. This data is critical to managing expectations within IT and with our business partners.

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Nicus ITFM Suite review by Ginger A.
Ginger A.
Validated Reviewer
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"We conducted a full POC, have implemented Planning and are mid-way through implement 3 others."

What do you like best?

The functionality is powerful and creates many opportunities for operational efficiencies. Additionally, the cost transparency this tool enables is truly changing the future value discussions around IT services and our related cost structure.

What do you dislike?

For those not accustomed to data base structures, it requires a mid-shift from the more traditional Excel models most Finance teams have utilized for years.

Recommendations to others considering the product

Take the Plunge! It involves a lot work to structure your existing data in ways that flow through databases, and to change your own thinking around processes, but the output and enhanced insights are more than worth the investment.

What business problems are you solving with the product? What benefits have you realized?

Rather than a flat discussion on the overall size of spend by IT, we are now able to hold IT accountable for Unit Costs and hold the Business accountable for the number of units they consume. Rolling out broader shared services models is also strongly supported by this application.

What Enterprise IT Management Suites solution do you use?

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Nicus ITFM Suite review by Administrator
Administrator
Validated Reviewer
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"Nicus ITFM Suite provides us with the transparency we were lacking."

What do you like best?

• Excellent customer service and partnership

• Work with you to figure out the best way forward; offer recommendations and best practices

• Fast support response times

• Have one point of contact for implementation and beyond

• Senior involvement when needed

• Extensive knowledge of IT Financial Management discipline and practices

• Report building / manipulation is easy

• OOTB Error reports on the Bill of IT data sources allow for quick identification and resolution

• OOTB pre-bill reports in the Bill of IT allow for analysis and changes prior to finalizing

• The customized instructions for each module that Nicus develops and maintains are very helpful

What do you dislike?

• User interface of the tool could be more “pretty”/user friendly/icons

• No ability to link the Planning module to the Cost Modeling portal

• Can’t change (or see) some of the internal logic that we built in

o Adding or changing data sources requires Nicus support

• Needed to build custom reports to be able to see and maintain the costs of IT Services before they get consumed by the module

• Like in an accounting system, once you finalize a month you can’t go back and change anything; can only change through future adjustments

o Since most customers use this as an “invoicing” tool I understand why, but since we’re not I was hoping we could customize the hard close

What business problems are you solving with the product? What benefits have you realized?

Our run-the-business costs were increasing year over year and no one was in a position to explain why. We are using Nicus to get a handle on our spend from a service and consumer perspective, with a particular focus on application Total Cost of Ownership.

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