Roanoke, VA – Nov 17, 2023
Nicus Software, Inc. (Nicus), a leading provider of enterprise IT Financial Management (ITFM) and Technology Business Management (TBM) software, has announced its recognition as the #2 global vendor in the prestigious Research In Action Vendor Selection Matrix™ for ITFM and TBM Solutions in 2024. Narrowly missing out on the #1 position, this accolade underscores Nicus’ commitment to excellence and innovation in the rapidly evolving ITFM and TBM landscape.
The report finds that ITFM is quickly becoming a mainstream proposition while the complexity of TBM makes widespread adoption challenging. This is supported by 77% of the surveyed organizations stating they are investing in ITFM with only 8% of organizations not having an ITFM strategy. Although a broad feature set remains the buyers’ top priority, the report details 11 selection priorities that gained significant nominations.
The Research In Action Vendor Selection Matrix™ is renowned for its rigorous and comprehensive evaluation process. This year’s report involved interviewing 1,000 enterprise IT and business managers with budget responsibilities from across the globe. An additional 700 IT and business managers from German-speaking Central Europe were also surveyed. The methodology combines a 63% weighting from these enterprise surveys with a 37% input from the analyst’s opinion, ensuring a balanced and in-depth analysis. This unique approach, combining extensive buyer feedback and expert analysis, positions the Research In Action report as a highly credible and influential resource in the ITFM and TBM market.
A complimentary copy of the report is available for download on the Nicus Website.
Founded in 1992, Nicus has established itself as a leader in the ITFM and TBM market, offering one of the most comprehensive solutions available today. The Nicus solution is the only one in the market available standalone and on ServiceNow. This dual availability positions Nicus uniquely in the market, especially as IT teams increasingly invest in the ServiceNow platform and ecosystem.
The report noted “What really sets Nicus apart is the flexibility of the software to be configured in a way that is appropriate to each business and a focus on customer outcomes, accented by the recent acquisition of Proven FM.”
Gavin Drake, Chief Marketing Officer at Nicus, comments, “We want to thank Research in Action and our customers for our inclusion in this report. Receiving a score of 4.75 out of 5 for customer satisfaction, price versus value and in the recommendation index, is testament to our unwavering commitment to ensuring successful business outcomes for our customers.”
In addition to the report positioning and inclusion, Nicus received numerous report awards, including Market Leader Award, #1 Recommendation Index, #1 Customer Satisfaction, #1 Price Versus Value, and the #1 Global Winner accolade. This success in the ITFM/TBM Vendor Selection Matrix follows the company’s recent #1 ranking in G2 Enterprise IT Management Relationship Index.
The ITFM and TBM Vendor Selection Matrix Report is available for free download on the Nicus website.
Nicus is a leading provider of enterprise IT Financial Management (ITFM) and Technology Business Management (TBM) software tailored to the needs of high-performance enterprise businesses and public sector organizations. Nicus enables more informed and strategic technology decisions, helping IT leaders and practitioners communicate the value of IT within their respective organizations. Through a comprehensive software suite and AI-powered insights engine, including solutions for IT Planning, Cost Transparency, Cloud Transparency, Bill of IT, Application TCO, IT Benchmarking and more, Nicus elevates IT to empower businesses. The Nicus platform is available as a standalone cloud application or running natively on ServiceNow. Learn more about Nicus at www.nicus.com.