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Nicus Reviews & Product Details

Nicus helps organizations understand, manage, and optimize the true cost of technology. As a leading provider of IT Financial Management (ITFM) and Technology Business Management (TBM) solutions built on ServiceNow, Nicus gives IT, Finance, and business leaders a clear, actionable view of where every technology dollar goes—and the value it delivers. Nicus unifies financial and operational data so teams can analyze, plan, and optimize technology spend in real time. It connects cost transparency, budgeting, forecasting, and chargeback into a single, automated experience that turns insight into action across the enterprise. Whether managing cloud and AI investments, addressing technical debt, or funding new innovation, Nicus enables organizations to make data-driven decisions with confidence. With Nicus, teams can: Understand true costs: See complete spend across applications, services, projects, departments, cloud, and AI initiatives. Plan and forecast accurately: Build budgets, run scenarios, and model the financial impact of change in minutes, not days. Showback and chargeback fairly: Attribute costs to business units with defensible accuracy to improve accountability. Optimize technology portfolios: Identify redundant applications, reduce technical debt, and reallocate spend to strategic priorities. Automate and accelerate workflows: Replace spreadsheets with intelligent automation that speeds analysis, reporting, and financial approvals. Drive measurable outcomes: Track variance, benchmark costs, and continuously improve financial performance. By combining financial rigor with operational intelligence, Nicus helps enterprises reduce run costs, improve forecasting accuracy, and maximize the return on every technology investment. Delivered natively on the ServiceNow platform, Nicus transforms data into decisions—connecting technology investments directly to business value.

Product Website

Seller

Nicus Software

Discussions

Nicus Community

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.

Overview by

Gavin Drake

Value at a Glance

Averages based on real user reviews.

Time to Implement

5 months

View More Pricing Information

Nicus Media

App TCO, Service Cost Modeling, and Benchmarking Spend less time defending costs and more time driving innovation. Lift the veil on true costs (including Cloud and AI) and what they enable to inform smarter consumption, justify budgets, and harvest savings to fund growth and transformation - con...

Vendor, Labor, and Project Expense Management Streamlined budgeting today enables stronger diligence for tomorrow. Centralize and integrate spend data to reduce variance and effectively manage resource supply against shifting demand, while reducing the burden of essential operations to refocus e...

Transparent and Defensible Showback or Chargeback Build trust and expedite dispute resolution to recover costs quickly. Cultivate accountability, monitor usage, and provide consumers with granular, fully loaded rates to show market fairness, encourage prompt payment, and expose levers for optimi...

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Robert B.

Enterprise (> 1000 emp.)

9/1/2020

"Nicus Administrator review"

5/5

What do you like best about Nicus?

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 about Nicus?

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 is Nicus solving and how is that benefiting you?

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.

Verified User in Government Administration

Enterprise (> 1000 emp.)

9/9/2020

"NICUS is an excellent tool to drive IT maturity."

5/5

What do you like best about Nicus?

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 about Nicus?

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.

Verified User in Computer Software

Enterprise (> 1000 emp.)

9/1/2020

"Cost Transparency"

4.5/5

What do you like best about Nicus?

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 about Nicus?

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 Nicus:

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 is Nicus solving and how is that benefiting you?

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.

Verified User in Insurance

Enterprise (> 1000 emp.)

8/21/2018

"Nicus ITFM Suite provides our leadership with the transparency we were lacking."

5/5

What do you like best about Nicus?

- 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 about Nicus?

- 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 is Nicus solving and how is that benefiting you?

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.

Verified User in Insurance

Enterprise (> 1000 emp.)

9/1/2020

"Amazing customer service"

5/5

What do you like best about Nicus?

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 about Nicus?

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

Galen D.

Technology Director

Enterprise (> 1000 emp.)

4/24/2020

"15 years on the Nicus platform successfully adapting to evolving management reporting needs."

5/5

What do you like best about Nicus?

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 about Nicus?

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.

Verified User in Information Technology and Services

Enterprise (> 1000 emp.)

5/29/2020

"Review for Nicus"

4.5/5

What do you like best about Nicus?

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 about Nicus?

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.

Verified User in Insurance

Enterprise (> 1000 emp.)

9/17/2020

"Powerful tool, highly customizable with great potential"

4.5/5

What do you like best about Nicus?

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 about Nicus?

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

Verified User in Insurance

Enterprise (> 1000 emp.)

4/28/2020

"Nicus has both expertise and excellent customer service that keeps us coming back for more."

5/5

What do you like best about Nicus?

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 about Nicus?

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

Recommendations to others considering Nicus:

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 is Nicus solving and how is that benefiting you?

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.