While cloud transfer fees contribute significantly to enterprise overspend, they aren’t the only challenge when it comes to keeping cloud costs in check.
Different Pricing & Subscription Models
Enterprises often juggle multiple public cloud providers, each with complex and multifaceted pricing and subscription models. Lack of standardization means that billing formats, APIs, and services differ between each major public cloud provider.
Cost of Cloud Provisioning
Incorrect resource provisioning is one of the biggest offenders when it comes to driving up cloud costs. It’s common for enterprises to grossly over-estimate how much they need. To stay in control, automated monitoring and alerts about usage are essential.
Shadow IT refers to solutions, software, systems, applications, and services that slip under the radar without your IT department’s direct consent. As this technology isn’t actively monitored, it can put your cloud at risk and push costs up without you even realizing it.
Complex Cloud Migrations
Without adequate visibility over your cloud estate, it’s easy for cloud migration costs to go off the rails. Operational expenditure, paying for unnecessary excess cloud storage, and recurring admin costs can make a sizeable migration incredibly expensive.
How Can Cloud Spend Management Help?
By partnering with a cloud spend management provider you can reign in your cloud spend and eliminate the hidden costs. Here’s how.
Continuous Cloud Auditing Services
By reviewing, auditing, and optimizing your cloud, a spend management provider will pinpoint wasted resources, shadow IT, hidden costs, or extra capacity that are causing needless spending. Regular cloud auditing gives your enterprise valuable data and insights, so you can strategize and scale your cloud with complete confidence.
Tracking Billing and Data
A cloud spend management provider will combine your multi-cloud billing into one general ledger, eliminating the stress of managing multiple, disparate platforms. Plus, by leveraging detailed billing and usage data from your CSPs, you can quantify exact spending across your IaaS and PaaS environments, so you’ll never experience bill shock ever again.
Rightsizing is a pillar of cloud cost optimization and spend management. By identifying the ideal resource supply to meet demand, you can reduce wastage, ensuring your cloud is always operating at peak capacity. An experienced cloud spend management provider will review your hourly usage reports, to establish idle periods, so you can spin down resources when they’re not required.