Cloud technology is everywhere in business today. It’s seen everywhere from workload execution to application modernization. And while traditionally, the word “cloud” has been associated with infrastructure as a service (IaaS), that paradigm has changed dramatically in recent years.
As software as a service (SaaS) offerings have emerged and companies have begun to adopt more modern technologies, we’ve seen cloud start to branch out well beyond its old boundaries. IT leaders have begun using the cloud to tackle new business challenges.
Perhaps most significantly, we’ve seen the impact of cloud technology when it comes to reducing costs and enforcing regulatory compliance. As financial operations (FinOps) practices have evolved, companies have begun to use cloud-based frameworks and guidelines for tackling the real-life challenges that lie in front of them.
To begin, it would be helpful to define the key terminology involved in managing cloud spend. Below are the important concepts to understand.
Cloud spend management involves using a set of tools, processes, and practices to manage your cloud infrastructure. Implementing cloud spend management practices will help your business avoid overbuying IT solutions or otherwise wasting your budget. It also gives you actionable insights into how your cloud use impacts your costs and ROI. The key to successful cloud spend management is to be able to monitor, measure, and analyze your spending patterns.
As multi-cloud technology starts to become the norm in business, CIOs are increasingly realizing that cloud spend management is a key concern. Consider the following survey data:
It’s no surprise that businesses are rapidly embracing cloud spend management. Doing so helps them to accurately forecast their spending and allocate the right funds in the right places. More specifically, the core benefits of cloud spend management include:
There are many ways to reduce your business’ cloud expenditure. They include identifying idle resources and eliminating them, freeing up storage capacity and leveraging storage tiering, aligning storage redundancy with requirements, reducing cross-zone or cross-region traffic, and optimizing network configurations. Additionally, your business can take steps to:
At Zones, we offer a comprehensive cloud governance framework that spans FinOps, SecOps, CloudOps, and more. Our approach enables you to mitigate risks, keep services running, enforce consistent policies, and avoid budget overruns. We will provide you with tools to manage your multi-cloud spend through a unified console. This includes auto-invoicing, usage transparency, and recommendations for smart usage.
Our cloud governance framework will reduce your cloud costs through continuous and autonomous cloud governance. It includes:
Zones Cloud Spend Management is an AI-powered, next-generation, multi-cloud governance tool that empowers enterprises to rapidly achieve autonomous and continuous cloud governance. It is compatible with all major public and private cloud platforms (including Oracle, Google, Microsoft Azure, and Amazon).
It allows you to track your entire cloud budget in one place, while also delivering you real-time visibility into your spending. Additionally, Zones will provide you with valuable recommendations for right-sizing cloud resources by using the right services at the right volume at the right time. This is a cost-effective way to save time and money by monitoring your money without the hassle of invoices or spreadsheets.
Zones Cloud Spend Management not only helps reduce your operating expenses by simplifying the way you work with your cloud provider and consolidating your cloud services, but it also shows you how to optimize different spending levels. It does this by continuously measuring your resource consumption and recommending adjustments to maximize efficiency. It also shows you the costs of all your services and guides you through the process of budget management. You can create a budget for any time period and sign up for email alerts notifying you when you’ve exceeded your preset spending limits.
With Zones Cloud Spend Management, your organization can get the most out of its IT infrastructure investment. You’ll achieve better cost optimization, total control, and clear visibility into your entire environment through a single pane of glass.
