VMware has released two new products: VMware vCenter AppSpeed and VMware vCenter Chargeback as well as a major upgrade.

VMware vCenter AppSpeed provides service-level reporting and performance management for multi-tier applications running in virtual machines and VMware vCenter Chargeback reports on costs associated with the use of virtual infrastructure.

Andre Kemp, senior product marketing manager for VMware Australia and New Zealand, said virtualisation is at the top of the agenda of many local CIOs.

"Historically, businesses have had an arduous time trying to figure out the cost of their internal billing structure and how to actually formulate that into something the business can then put into their financial planning as they go forward," Kemp said.

"Businesses can now use the Vcenter platform as the repository for collecting the amount of information you would need in order to extrapolate for financials."

VMware also announced today a major release of VMware vCenter Lab Manager 4. First introduced in 2006, the upgrade simplifies and automates key IT processes such as application performance monitoring, chargeback, and management of development and test environments.