According to IDC, cloud spending is expected to dramatically increase as organisations continue to accelerate cloud deployments. But who is monitoring this spend and making sure that you’re getting the most out of your budget?
Cloud economists, also dubbed ‘the other CFO’, help the business forecast their cloud costs and identify any potential savings for new cloud solutions. Essentially, a cloud economist aims to make your cloud usage more economical by minimising wastage and helping you to get the most bang for your buck. They understand the technical side of cloud tools, how different components support each other and they also acknowledge the maintenance realities that come with moving to the cloud.
Cloud economists serve as an invaluable decision-making resource because they take the time to really understand your IT pain points and then offer advice around how to optimise costs and avoid overspending.
The role is one that industry insiders predict will gain great traction in years to come as more and more people shift their key business processes to the cloud.
“Hands for code and a head for money”
Forecasting cloud costs is tricky. It is not uncommon for unexpected complexities to arise, which can have a massive affect on your original cost projections. Couple this with the fact that budgets are shrinking and it becomes even more important to have someone who has “hands for code and a head for money”, as Leon Adato, head geek and tech evangelist at SolarWinds, puts it.
Adato continues that a cloud economist aims to achieve the following goals:
- Increase revenue
- Decrease cost
- Remove risk
In this way, cloud economists will be asked to wear multiple hats. They need to understand the different strengths and weaknesses of cloud providers and constantly keep up-to-date with their ever-changing service offerings. In having an understanding of the underlying technology, and a deep respect for the IT budget, they will appreciate what is needed and find the right fit, at the right price for the business’ unique requirements.
So, who needs a cloud economist?
Well, for smaller companies it may be enough to hire an external consultant who comes in on a regular basis to help you avoid unnecessary expenses. That being said, the value of this new role shouldn’t be underestimated. Adato believes that any business, of any size – from start-up to enterprise – will benefit from more cloud expense forethought.
If you’re unsure about hiring a cloud economist, we can help you manage your cloud costs. OneView automates your technology and cloud expense management so that you have full visibility and complete control of your entire technology environment. Schedule a demo or find out more by completing the form below.