When selecting Cloud Cost Management solutions, key features to look for include:
Cost Transparency
Resource Optimization
Real-time Analytics
Budget Alerts
Integrations
Cost transparency is crucial as it allows businesses to understand spending patterns by offering detailed breakdowns. By tracking usage across different cloud environments, it enables identification of wasteful expenditures. This ensures efficient resource allocation and enhanced budget management. Cost insights assist stakeholders in making informed decisions and preventing unexpected expenses.
Resource optimization features are essential because they provide actionable recommendations for rightsizing resources. This capability helps in eliminating over-provisioned services, ensuring you only pay for what you use. Efficient resource management reduces unnecessary costs and maximizes cloud investment returns. Real-time analytics offer visibility into cloud spend, providing instant access to data which helps in promptly addressing budget deviations. This empowers businesses to swiftly take corrective actions, ensuring financial goals are met effectively.
Search for a product comparison in Cloud Cost Management
Solutions Specialist | Product Manager - Cloud & Data Center Services at Hexaware Technologies Limited
Vendor
2020-10-28T07:37:40Z
Oct 28, 2020
Couple of factors to consider: 1. First and foremost would be Insight into your Cloud environment (detailed inventory information) 2. Cost split across various services being consumed 3. Identification of wasted resources in the environment 4. View into the utilization of existing resources
Let me know if we can connect to discuss in detail regarding your requirement.
The solution must allow all the co-workers to understand the costs of their services, to put this in relation to the BV, to be alerted at the time of
a cost peak.
Better planning upfront will prevent future cost management pain.
DISCLOSURE - we built cloudstep to reduce the risk and uncertainty that surrounds public cloud adoption. We take a total Application cost view - not just an Infrastructure view.
-Start by building your financial baseline, i.e. your current cost to deliver IT. From there compare it against different deployment options (IaaS, PaaS, SaaS) delivered via different cloud vendors (AWS/Azure).
-Build complex business cases on evidence and YOUR true costs - not a bunch of "woolly" vendor assumptions.
-Build a 5 year TCO model that CxO's have confidence in and trust.
-If you are already in / or partway to the cloud - automate, automate, automate. Turn off those dev / pre-prod machines at night and make sure you understand the cost impacts of 100 seemingly small decisions. When added up they can contribute to an unexpected hefty bill.
Disclosure: I work for CloudCheckr but here are my thoughts: Naturally, you want a solution that saves money by identifying unused and idle resources, rightsizing both up and down, and leveraging discount opportunities such as Reserved Instances, Savings Plans, etc. You might also want a tool that provides invoices, for chargeback or show back, with custom rates so you can capture and recoup costs from other departments.
But don't forget that Downtime and Security Breaches can cost far more than any wasteful resources. A good Cloud Management Platform will also make recommendations for, and in some cases automatically fix, security misconfigurations and high availability concerns.
Cloud Cost Management is a strategic approach to monitoring and managing expenses in cloud environments, optimizing resource use without sacrificing performance.This solution involves tracking and analyzing cloud expenses to ensure cost efficiency. It helps organizations understand their spending patterns, forecast future costs, and identify ways to reduce unnecessary expenditures. With features like budgeting, cost allocation, and custom reporting, businesses gain greater control over their...
When selecting Cloud Cost Management solutions, key features to look for include:
Cost transparency is crucial as it allows businesses to understand spending patterns by offering detailed breakdowns. By tracking usage across different cloud environments, it enables identification of wasteful expenditures. This ensures efficient resource allocation and enhanced budget management. Cost insights assist stakeholders in making informed decisions and preventing unexpected expenses.
Resource optimization features are essential because they provide actionable recommendations for rightsizing resources. This capability helps in eliminating over-provisioned services, ensuring you only pay for what you use. Efficient resource management reduces unnecessary costs and maximizes cloud investment returns. Real-time analytics offer visibility into cloud spend, providing instant access to data which helps in promptly addressing budget deviations. This empowers businesses to swiftly take corrective actions, ensuring financial goals are met effectively.
Couple of factors to consider:
1. First and foremost would be Insight into your Cloud environment (detailed inventory information)
2. Cost split across various services being consumed
3. Identification of wasted resources in the environment
4. View into the utilization of existing resources
Let me know if we can connect to discuss in detail regarding your requirement.
1. Rightsizing resources based on actual performance data. Compute and storage. PaaS tiering.
2. Software licensing/license mobility
3. Wasted resources (unattached storage)
4. Location. Are there cheaper regions that could be used?
5. Test/Dev. Power off when not needed. Are you wasting licenses when not required?
The solution must allow all the co-workers to understand the costs of their services, to put this in relation to the BV, to be alerted at the time of
a cost peak.
Billing.
Better planning upfront will prevent future cost management pain.
DISCLOSURE - we built cloudstep to reduce the risk and uncertainty that surrounds public cloud adoption. We take a total Application cost view - not just an Infrastructure view.
-Start by building your financial baseline, i.e. your current cost to deliver IT. From there compare it against different deployment options (IaaS, PaaS, SaaS) delivered via different cloud vendors (AWS/Azure).
-Build complex business cases on evidence and YOUR true costs - not a bunch of "woolly" vendor assumptions.
-Build a 5 year TCO model that CxO's have confidence in and trust.
-If you are already in / or partway to the cloud - automate, automate, automate. Turn off those dev / pre-prod machines at night and make sure you understand the cost impacts of 100 seemingly small decisions. When added up they can contribute to an unexpected hefty bill.
Disclosure: I work for CloudCheckr but here are my thoughts: Naturally, you want a solution that saves money by identifying unused and idle resources, rightsizing both up and down, and leveraging discount opportunities such as Reserved Instances, Savings Plans, etc. You might also want a tool that provides invoices, for chargeback or show back, with custom rates so you can capture and recoup costs from other departments.
But don't forget that Downtime and Security Breaches can cost far more than any wasteful resources. A good Cloud Management Platform will also make recommendations for, and in some cases automatically fix, security misconfigurations and high availability concerns.