In a Cloud Cost Management solution, essential features include resource usage insights, budget alerts, real-time monitoring, vendor comparisons, and scalability options. An effective platform should provide clear, actionable data to optimize cloud spending efficiently.
Resource usage insights
Budget alerts
Real-time monitoring
Vendor comparisons
Scalability options
Detailed resource usage insights enable organizations to identify inefficiencies and reduce unnecessary expenditures. By tracking consumption patterns, such platforms assist in pinpointing areas to optimize and reallocate resources. Budget alerts are critical in preventing over-expenditure by notifying stakeholders when preset thresholds are approached or surpassed.
Real-time monitoring delivers up-to-date information about ongoing resource consumption, allowing timely adjustments. This feature helps in making informed decisions on the fly. Comparative analysis of different cloud service providers equips teams with the knowledge of cost-effective options. Scalability features ensure that the solution can grow with the business, adapting to increasing cloud service demands. Effective Cloud Cost Management solutions provide these functionalities to ensure optimal utilization of cloud resources.
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.
In a Cloud Cost Management solution, essential features include resource usage insights, budget alerts, real-time monitoring, vendor comparisons, and scalability options. An effective platform should provide clear, actionable data to optimize cloud spending efficiently.
Detailed resource usage insights enable organizations to identify inefficiencies and reduce unnecessary expenditures. By tracking consumption patterns, such platforms assist in pinpointing areas to optimize and reallocate resources. Budget alerts are critical in preventing over-expenditure by notifying stakeholders when preset thresholds are approached or surpassed.
Real-time monitoring delivers up-to-date information about ongoing resource consumption, allowing timely adjustments. This feature helps in making informed decisions on the fly. Comparative analysis of different cloud service providers equips teams with the knowledge of cost-effective options. Scalability features ensure that the solution can grow with the business, adapting to increasing cloud service demands. Effective Cloud Cost Management solutions provide these functionalities to ensure optimal utilization of cloud resources.
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.