With Apptio stock growing more than 50 percent in 2018, it’s no wonder the company caught the eye of Jim Cramer, host of CNBC’s Mad Money. Sunny Gupta, Apptio’s co-founder, president, and CEO joined the show to share why Apptio is exceeding expectations.
“Our viewers care passionately, and we wanted you on after just a terrific quarter,” said Cramer. “Thank you, viewers, for mentioning these great stocks so we do more work on them,” he added later.
From providing cost transparency in budgeting to driving digital transformation through the cloud, Gupta spoke to Apptio’s role in helping today’s business leaders manage their IT spend.
“Every company is a technology company, and technology is powering every major business process in the enterprise,” said Gupta. “Just like [the] VP of sales has Salesforce, [the] VP of HR has Workday, now CIOs have Apptio to manage their technology investments.”
Cramer covered Apptio’s involvement in both the private- and public-sectors, mentioning the company’s partnerships with Cisco and the U.S. Department of Veterans Affairs. According to Gupta, the U.S. federal government has a $90 billion IT spend, with some speculation that the cost could be closer to $200 billion.
“We’ve been partnering with the White House to create a standard cost model,” said Gupta. “Now the White House has mandated that agencies report the federal cost spending on the cost model we helped co-author.”