Last year, a survey of 400 local IT decision makers revealed that 77% of South African businesses have embraced cloud. Unsurprisingly, as usage grows, so do cloud-related expenses. This is especially true when businesses don’t have processes or solutions in place to monitor the cloud services they’re using. If you don’t understand the value of cloud management and cloud optimisation, it’s likely that your cloud expenses will exceed your cloud budget. This is why cloud cost management is so important.
What is cloud cost management?
As your cloud environment becomes more complicated, your costs are harder to track. Cloud cost management, also known as cloud cost optimisation or cloud expense management, is all about managing the costs associated with cloud. It helps businesses control their spending on cloud services while also maximising their resources. Effective cloud expense management solutions enable businesses to identify cost-effective ways to maximise cloud usage and efficiency. This makes it possible to track the costs associated with cloud, reduce waste and plan for future consumption.
Why is it important?
Modern technology environments are complex and cloud is no exception. Effective cloud management allows enterprises to stay ahead. When cloud cost management is a priority, enterprises can practice good governance and ensure that they have the resources to stay competitive. Cloud expense management enables enterprises to achieve optimal performance by supporting other key business objectives like security, visibility, efficiency accountability. In this way, cloud e management goes beyond simple cost control. Cloud expense management tools ensure a consolidated view of cloud usage and cost across different cloud vendors.
How does CCM boost ROI?
If your business has just migrated to the cloud, and made the move to cut costs, chances are that you’ll be hesitant to make any additional investments around managing your cloud environment. But an spending money on cloud cost optimisation will ultimately save money. With reporting customised according to businesses financial cycles, cloud owners have a more holistic view of their entire cloud environment. Should you have a multi-vendor cloud environment, you’ll need visibility across all cloud accounts and cloud providers.
With a cloud cost management solution in place you can take a deep dive into costs by application, department or team, which, in turn, makes it possible to identify any wasteful or unnecessary expenses. With streamlined operations and greater control of your cloud environment, IT teams can fast track their digital transformation journey without the fear of overspending.
We recently hosted a webinar unpacking everything you need to know about effectively managing and monitoring your cloud costs. To access this webinar, click here. And if you’d like to other insights like this delivered straight to your inbox, simply complete the form below to sign up for our monthly newsletter.