Implementing a Cost Transparency initiative is a critical part of an IT performance management strategy but both need to be developed in the context of the changing business and technological landscape. To improve the potential success and impact of such initiatives, IT and finance organizations can benefit greatly by moving away from an internally developed, spreadsheet based approach and adopt a commercial solution that can automate their IT Cost Transparency efforts. The Apptio on demand offering is a great example of a solution that encapsulates best practices and knowledge of IT to provide enterprises with transparency into the cost of their IT services. IT organizations that take this step and implement a cost transparency initiative with such a solution can help usher in a new era of strategic IT management, and establish a true partnership with the business to ultimately achieve two key overarching objectives: minimize IT costs and maximize IT business value.