Company Description: MagicOrange is the the market’s most advanced, cloud-native IT Financial Management platform. Our proprietary technology enables CIOs & divisional leaders to identify and
align their costs with the business and increase visibility of complex cost combinations.
For the first time, CFOs can allocate costs equitably and openly – not only for cost-recovery
but also as a method of managing usage and demand.
We assist our customers through their IT Financial Management/Technology Business Management and Cost Transparency journeys by helping to drive profitability and unlock value. Our Gartner recognised MagicOrange solution helps you to understand your profitability & costs, enables you to utilise assets efficiently, shows accurate profit margins and reduce manual effort. This provides actionable insights that will drive your business transformation and future growth.
Our vision is to be the global standard for enterprise IT Financial Management, delivering the market’s most advanced technology to inform profitability, and enabling people and organisations to see the business value of IT and shared services, with the mission to provide full cost transparency and levers which enable organisations to make informed business-decisions.
MagicOrange has a strong track record across all industries including Financial Services, Retail, FMCG, Mining, Telecommunications and Industrial, with a professional team that is dedicated to driving the success of the ITFM/TBM program within your organisation, and international reach with offices in the United States, South Africa, the United Kingdom and Australia.
Foundation Member Level: General Member
Vendor Type: Service Provider
Product(s) Overview: CLOUD COSTING - Maximise value from cloud by clearly understanding the usage and drivers of all cloud spend. MagicOrange enables you to automatically connect into Azure, AWS or Google Cloud Platform to control cloud costs and promotes fair showback or chargeback.
IT FINANCIAL MANAGEMENT / TBM - Reveal the true cost of delivering IT products and services. MagicOrange helps organisations optimize IT spend and increase profitability.
BUDGETING & FORECASTING - Create commercially accurate and relevant Budgets, Forecasts, and What-If scenarios rapidly and at scale. With MagicOrange you can generate many different scenarios such as Budget, Forecasts, and What-If scenarios at varying levels of granularity. Seamlessly integrate these into a cost model to rapidly show your scenario from different views of your spend for various stakeholders.
ITFM PATHWAY - In order to achieve the benefits of an effective IT Financial Management program, a series of planned steps must be taken over a period of time. There are no quick fixes, as changes to people, process, and technology are Organisation Change Management principles need to be followed so that effective adoption occurs. Our "Pathway To Success" provides an easy-to-follow framework for undertaking this journey.
SHARED SERVICES COST ALLOCATIONS - Cost allocations are vital to organisations leveraging a Shared Services operating model. MagicOrange can accommodate any cost allocation model and bring insight, stability, security and automation to your cost allocation process.
SHOWBACK & CHARGEBACK - Showback and Chargeback allow informed decisions around Shared Services consumption. Use MagicOrange to introduce a showback / chargeback process or increase the cadence and automation of an existing chargeback or showback process.
COST OPTIMISATION - With total cost transparency, uncover opportunities to reduce inefficient spend and redirect funds to higher value initiatives. Utilising MagicOrange you will promote cost accountability by cost center owners with clear facts around usage and cost.
PLANNING & ANALYSIS - Support finance's efforts to manage financial planning, budgeting, modeling, and performance reporting. MagicOrange reduces the turnaround time for budget and forecast cycles and allows you to spend more time gaining valuable insights.
PROFITABILITY & COSTING - Understanding the true profitability in a Shared Services environment can be difficult. With MagicOrange you can accurately model the complex provider-consumer relationships and allocate shared services costs using measurable and controllable drivers.
Dedicated FinOps Foundation Slack Channels: #magic-orange-vendor
Number of FinOps Certified Practitioners: 4
Contribution areas in the Foundation: We are a member of the #sig-women-in-finops group and #wg-cost-allocation.
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MagicOrange
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URL of logo: https://20030445.fs1.hubspotusercontent-na1.net/hubfs/20030445/MO%20Logo2x.png Linkedin URL: https://www.linkedin.com/company/magic-orange Website URL: https://magicorange.com/
Company Description: MagicOrange is the the market’s most advanced, cloud-native IT Financial Management platform. Our proprietary technology enables CIOs & divisional leaders to identify and align their costs with the business and increase visibility of complex cost combinations. For the first time, CFOs can allocate costs equitably and openly – not only for cost-recovery but also as a method of managing usage and demand.
We assist our customers through their IT Financial Management/Technology Business Management and Cost Transparency journeys by helping to drive profitability and unlock value. Our Gartner recognised MagicOrange solution helps you to understand your profitability & costs, enables you to utilise assets efficiently, shows accurate profit margins and reduce manual effort. This provides actionable insights that will drive your business transformation and future growth.
Our vision is to be the global standard for enterprise IT Financial Management, delivering the market’s most advanced technology to inform profitability, and enabling people and organisations to see the business value of IT and shared services, with the mission to provide full cost transparency and levers which enable organisations to make informed business-decisions.
MagicOrange has a strong track record across all industries including Financial Services, Retail, FMCG, Mining, Telecommunications and Industrial, with a professional team that is dedicated to driving the success of the ITFM/TBM program within your organisation, and international reach with offices in the United States, South Africa, the United Kingdom and Australia.
Foundation Member Level: General Member Vendor Type: Service Provider Product(s) Overview: CLOUD COSTING - Maximise value from cloud by clearly understanding the usage and drivers of all cloud spend. MagicOrange enables you to automatically connect into Azure, AWS or Google Cloud Platform to control cloud costs and promotes fair showback or chargeback.
IT FINANCIAL MANAGEMENT / TBM - Reveal the true cost of delivering IT products and services. MagicOrange helps organisations optimize IT spend and increase profitability.
BUDGETING & FORECASTING - Create commercially accurate and relevant Budgets, Forecasts, and What-If scenarios rapidly and at scale. With MagicOrange you can generate many different scenarios such as Budget, Forecasts, and What-If scenarios at varying levels of granularity. Seamlessly integrate these into a cost model to rapidly show your scenario from different views of your spend for various stakeholders.
ITFM PATHWAY - In order to achieve the benefits of an effective IT Financial Management program, a series of planned steps must be taken over a period of time. There are no quick fixes, as changes to people, process, and technology are Organisation Change Management principles need to be followed so that effective adoption occurs. Our "Pathway To Success" provides an easy-to-follow framework for undertaking this journey.
SHARED SERVICES COST ALLOCATIONS - Cost allocations are vital to organisations leveraging a Shared Services operating model. MagicOrange can accommodate any cost allocation model and bring insight, stability, security and automation to your cost allocation process.
SHOWBACK & CHARGEBACK - Showback and Chargeback allow informed decisions around Shared Services consumption. Use MagicOrange to introduce a showback / chargeback process or increase the cadence and automation of an existing chargeback or showback process.
COST OPTIMISATION - With total cost transparency, uncover opportunities to reduce inefficient spend and redirect funds to higher value initiatives. Utilising MagicOrange you will promote cost accountability by cost center owners with clear facts around usage and cost.
PLANNING & ANALYSIS - Support finance's efforts to manage financial planning, budgeting, modeling, and performance reporting. MagicOrange reduces the turnaround time for budget and forecast cycles and allows you to spend more time gaining valuable insights.
PROFITABILITY & COSTING - Understanding the true profitability in a Shared Services environment can be difficult. With MagicOrange you can accurately model the complex provider-consumer relationships and allocate shared services costs using measurable and controllable drivers.
Product Video URL: https://youtu.be/fQUyRkAJcTI Product Resources: MagicOrange recognised as a leading ITFM solution by OMDIA:https://magicorange.com/recognized-as-a-leading-itfm-solution/
MagicOrange recognised by Gartner: https://magicorange.com/magic-orange-recognized-by-gartner/
MagicOrange - IT Financial Management/Technology Business Management: https://magicorange.com/solution/it-financial-management-itfm-technology-business-management-tbm/
Supported Functions: Cost Allocation (Metadata & Hierarchy), Data Analysis and Showback, Managing Anomalies, Managing Shared Cost, Forecasting, Budget Management, Measuring Unit Costs, Data Ingestion & Normalization, Chargeback & IT Finance Integration, Establishing FinOps Culture, IT Asset Management Integration, Cloud Policy & Governance, Establishing a FinOps Decision & Accountability Structure, FinOps Education & Enablement
Supported Cloud Providers: AWS, Azure, GCP, Private Cloud Date joined: 28 October 2022
Recent FinOps Activity and Materials: MagicOrange Cloud: https://youtu.be/y2-nGY5Q5MA
Dedicated FinOps Foundation Slack Channels: #magic-orange-vendor Number of FinOps Certified Practitioners: 4 Contribution areas in the Foundation: We are a member of the #sig-women-in-finops group and #wg-cost-allocation.