Nicus Reviews & Product Details

Nicus Overview

What is Nicus?

Nicus Software offers a powerful suite of ITFM/TBM applications designed to achieve true IT cost transparency and encourage informed decision making including: Planning, Cost Modeling, Bill of IT, Application TCO, Cloud Financials, and Project Financials. Built on a powerful data and analytics platform that leverages proprietary modeling capabilities, self-service analytics, and planning workflows, Nicus enables customers to make actionable, data-driven, strategic and operational decisions.

Nicus Details
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Languages Supported
English
Product Description

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.


Seller Details
Seller
Nicus Software
Company Website
Year Founded
1992
HQ Location
Roanoke, Virginia
Twitter
@NicusSoftware
438 Twitter followers
LinkedIn® Page
www.linkedin.com
37 employees on LinkedIn®
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Nicus Reviews

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Enterprise(> 1000 emp.)
Validated Reviewer
Verified Current User
Review source: Organic
What do you like best?

The tool is very straightforward to administer. I have 13 regular users in our IT Finance team plus a variety of users in other areas of IT and the Business. The normal administrative functions are easy to use and allow me to see most of the views I need out of the box. Customizing reports and tables is a drag and drop interface. Review collected by and hosted on G2.com.

What do you dislike?

There are a few views I would like to have as an administrator that are not part of the regular report package. This makes it harder to see what reports are available to particular users. Review collected by and hosted on G2.com.

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

WE have transferred all the day to day work of the IT Finance team to Nicus. This has gotten them off of multiple spreadsheets and allowed better reporting. One team member told me that now the tools used are not the bottleneck but getting the reports from the cost center owners. We do all financial reporting out of Nicus now and the IT directors are used to seeing the financial reports in Nicus. We are now expanding to creating a Cost Model and generating the first Bills of IT to validate with the business side. Review collected by and hosted on G2.com.

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AG
Enterprise(> 1000 emp.)
Validated Reviewer
Verified Current User
Review source: Organic
What do you like best?

We have achieved significant gains through billing automation and in customer confidence. NICUS is a robust solution and allows IT service input files to be automated and mapped to customers. We also use the cost modeling for what-if scenarios, projecting long-term outlooks, and rate setting. Inside of out IT organization NICUS has become our single source of truth. It has helped us build customer confidence with the ability to show the components of our rates and consistently produce the same information. Review collected by and hosted on G2.com.

What do you dislike?

There is still some of our rate components that we build outside of NICUS before we upload the data into the cost modeling tool. Review collected by and hosted on G2.com.

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

IT maturity is an on-going process and services owners have to remain engaged and bought into the value of ITFM. NICUS helps us engage our service owners in ITSC Portfolio Review meetings. Since integrating the product we have been able to show how we are reinvesting in IT. Review collected by and hosted on G2.com.

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EC
Enterprise(> 1000 emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2 on behalf of the seller
What do you like best?

We are early in the path to deploying the Cost Transparency module and we have found Nicus to be a trusted partner in that journey. They have been willing to engage quickly with us to address issues quickly. We have found them to be open and engaging in identifying root causes and moving quickly to resolution. Review collected by and hosted on G2.com.

What do you dislike?

We are still early in the process and have not come across any challenges with Nicus so far. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

Understand your business and the way you work best with solutions. We found Nicus was a good cultural fit for us as much as a good tool fit. Having both helps to drive the relationship towards Partnership. Review collected by and hosted on G2.com.

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

We are working to implement a TBM practice and are leveraging Nicus to assist us with the establishment of that through the deployment of their Cost Transparency module. Review collected by and hosted on G2.com.

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AI
Enterprise(> 1000 emp.)
Validated Reviewer
Review source: Organic
What do you like best?

- Excellent customer service and partnership

- Nicus works with you to customize according to your requirements; 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; practioner experience in invaluable

- Report building and customization 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 Review collected by and hosted on G2.com.

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

- New data sources require Nicus' help to add

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

- Similar to an accounting system, once you finalize a month you can’t go back and change anything; can only change through future adjustments Review collected by and hosted on G2.com.

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

Our IT leadership tasked the IT Finance team with understanding the cost of the services we provide, the business applications we support and the annual IT investment by business division. Our project and investment approval processes were not taking into account run- the-business costs, and our run costs were increasing year over year. Our team did not have the resources nor the tools to be able to answer these questions, and current state was to conduct ad-hoc, inconsistent analysis. We brought in Nicus' ITFM Suite to build sustainable, consistent, defendable process with the objective of producing Bill of IT and Application total-cost-of-ownership reporting for both IT and the business.

In the first year, we were able to provide application total cost of ownership data to our IT manager and business partners. This data replaced the ad-hoc analysis we would have been required to undertake to support business case and cost benefit assessments, and saved our team hundred of hours of effort. Additionally, our Corporate Planning department utilized our output to influence their annual IT portfolio investment planning. As a result, we were able to start charging back the business divisions for their IT run costs which resulted in more fruitful conversations about balancing run vs grow - for example, addressing continuing to invest in legacy technologies or purchasing new technologies when existing tools had the same capabilities. Our Corporate Finance department are considering revising their IT cost allocation processes to utilize our Bill of IT output.

Overall, we started realizing hard and soft benefits within months of implementation, and Nicus ITFM Suite has provided us with a solid foundation as we start to look at our IT services and applications with an enterprise lens. Review collected by and hosted on G2.com.

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UI
Enterprise(> 1000 emp.)
Validated Reviewer
Verified Current User
Review source: Organic
What do you like best?

Very knowledgeable staff to help you improve your ITFM processes. Customer support is very fast and helpful. Review collected by and hosted on G2.com.

What do you dislike?

I have never had a bad experience with NICUS. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

Great support, staff is amazing! Review collected by and hosted on G2.com.

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

Transparency into what is driving costs. We love our App TCO data for CBA's. Review collected by and hosted on G2.com.

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Technology Director
Enterprise(> 1000 emp.)
Validated Reviewer
Review source: Invitation from G2 on behalf of the seller
What do you like best?

The flexibility of the platform is extraordinary. In addition to solid out of the box modules for fast deployment, Nicus has an underlying platform that can adapt to most any need that is requested by users. Review collected by and hosted on G2.com.

What do you dislike?

I can't say I dislike anything about the product. The Nicus support response time is extremely fast, resolving any issues very quickly. Review collected by and hosted on G2.com.

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

We have achieved a high level if IT development and infrastructure business management reporting. We also extended our use of Nicus beyond IT to include extensive time collection processes, operations financial reporting and client profitability. Review collected by and hosted on G2.com.

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AI
Enterprise(> 1000 emp.)
Validated Reviewer
Review source: Organic
What do you like best?

Nicus is a powerful tool for ITFM. The implementation team are professionals with great knowledge and fully prepared to implement and customize the product with your needs. We use Nicus for budgeting, reforecasting, variance analysis and so on, and it works effectively and efficiently. Review collected by and hosted on G2.com.

What do you dislike?

There is nothing to dislike but there are opportunities for improvement, i.e. planning in different currencies is somehow complicated, needs to be more flexible and user friendly. Review collected by and hosted on G2.com.

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

It replaced almost 50 spreadsheets, removed a lot of manual entries and mitigated the risk of errors. It save a lot of time for us during month-end process, budgeting and re-forecasting. Review collected by and hosted on G2.com.

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AI
Enterprise(> 1000 emp.)
Validated Reviewer
Review source: Organic
What do you like best?

Nicus is a highly flexible platform that provides exceptional out of the box reports and the ability to create custom reports. The customer service and partnership is outstanding. Review collected by and hosted on G2.com.

What do you dislike?

At this time there is nothing to dislike. Review collected by and hosted on G2.com.

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

Improve our IT Finance process and implement greater Cost Transparency. Review collected by and hosted on G2.com.

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AI
Enterprise(> 1000 emp.)
Validated Reviewer
Review source: Invitation from G2 on behalf of the seller
What do you like best?

Nicus is always quick to respond and can come up with solutions to some of our most challenging problems. Review collected by and hosted on G2.com.

What do you dislike?

There is nothing to really dislike at this point. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

If you want a team of great people that are willing to find and implement solutions to your problems and in a quick and efficient manner, then Nicus is that team. Review collected by and hosted on G2.com.

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

Since we load allocation statistics for various cost pools, Nicus has been instrumental in helping us maintain these statistics in a centralized manner, despite all of the inherit differences, and automate much of the loading processes along the way. Review collected by and hosted on G2.com.

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UI
Enterprise(> 1000 emp.)
Validated Reviewer
Review source: Invitation from G2 on behalf of the seller
What do you like best?

The Nicus team is always very helpful and quickly responds to our questions. Review collected by and hosted on G2.com.

What do you dislike?

There is nothing to dislike. The Nicus team has helped us tremendously. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

Nicus is a great product and I look forward to expanding its use. Review collected by and hosted on G2.com.

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

Among other specialty items, Nicus has helped us work through how to include Investing expenses in our budgeting and projection processes. Review collected by and hosted on G2.com.

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AVP IT Finance & Capital Control
Retail
Enterprise(> 1000 emp.)
Validated Reviewer
Review source: Organic
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. Review collected by and hosted on G2.com.

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. Review collected by and hosted on G2.com.

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. Review collected by and hosted on G2.com.

What 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. Review collected by and hosted on G2.com.

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Enterprise(> 1000 emp.)
Validated Reviewer
Review source: Organic
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. Review collected by and hosted on G2.com.

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. Review collected by and hosted on G2.com.

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. Review collected by and hosted on G2.com.

What 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. Review collected by and hosted on G2.com.

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