Why Cloud Cost Management is the New Focus of the Business

Why Cloud Cost Management is the New Focus of the Business - Blog Image

Why Cloud Cost Management is the New Focus of the Business

Cost management is one of the primary aspects that every organization considers when it comes to profitability. However, it has become quite evident that diversifying IT spending has become an integral part of business expansion. Be it the procurement of new technologies, monitoring, maintenance, or infrastructure setups, and all require a specific and sometimes massive amount of money. The one who manages the cost optimally gain maximum profit. Nevertheless, cost management gains more prevalence when cloud computing is involved.

So why cloud cost management or CCM is so crucial for organizations? On one hand, cloud computing offers several benefits through its over the network services, whereas on the other hand, it poses several challenges pertaining to its governance and maintenance.

Some more challenges that are propelling the demand for cloud cost management services are as follow:

Lack of Visibility

Due to lack of proper visibility over the cloud, a business might find challenges such as security threats, application and network issues, and an inability to deliver against service agreements. Ad a result, the productivity of the business falls drastically and leads to loss of profit.

Improper Provisioning

Provisioning translates into management of the cloud resources in an organization. Improper provision leads to mismanagement of resources resulting in under or overutilization of cloud resources.

Furthermore, improper provisioning also leads to hindrance in cloud infrastructure development. Provisioning requires proper tools which further adds to the cost of cloud development.

Cloud Cost Management Tool – Anblicks Accelerator

Lack of Accountability

Lack of proper authenticity in the cloud infrastructure poses several security challenges such as breach and infiltration of data, leak of confidential information, and unauthorized modifications of the data.

To overcome the challenge of accountability, several protocols in the environment have to integrated. The development of these protocols is quite costly which further propels the demand for better Cloud Cost Management.

Budget Forecasting

Clouds such as AWS provides the auto-scaling feature to control the cost of the cloud. However, it is not easy for businesses to find it difficult to forecast the budget of the cloud when they plan to introduce a new service or app in the existing infrastructure. Budget forecasting requires proper expertise, process workflows, and accurate data which collectively increase the cost of cloud operations.

Billing Complexities

The challenge of billing complexity arises when there’s a constant change in the billing processes. The changes might be due to the update in the existing infrastructure or due to an addition of a new service or app. The change in the billing processes leads to complex calculations which requires complex calculating tools. The addition of these tools further adds to the cost of the cloud operations.

Five Key Solutions to Overcome Cloud Cost Management Challenges:

Anblicks cloud cost management allows the businesses to analyze the cloud cost, manage wastage, and help synchronize the billing process. It help clients 8n following way.

1. Evaluate Cloud Cost

Anblicks cloud cost management allows the clients to have a precise evaluation of the cost by developing a unique and scalable strategy for the business.

2. Dependable Billing

Anblicks has a pool of services and developers that are skilled in developing and integrating apps and services to the cloud. This allows Anblicks to have a systematic understanding of the client’s existing cloud infrastructure helping in managing the cost precisely.

3. Continuous Monitoring

Anblicks constantly monitors the cloud infrastructure of the client for anomalies and defects in the patterns of the data. These anomalies can alter the data and hinder the operations if the business.

4. Wastage Tracking

As per a report by RightScale, 30% of the total cloud cost is utilized managing the waste data. Anblicks cloud cost management service helps the business to constantly track the wastage of data so that they can optimize the cost of the cloud operations. The service also help the businesses to identify the resources that are creating maximum waste data. These resources can be machine images, load balancers, unassociated IPs, unused data volumes, among others.

5. Best in Class Cloud Management Platforms

Anblicks uses state of the art cloud management platforms for managing multi-cloud services and resources such as cloud governance, life cycle management, and automation for managed cloud resources.

Author’s Pick

Anblicks is a matrix of developers and strategists that provide unique and state-of-the-art cloud strategies and infrastructure for clients. The cloud cost management accelerator can help enterprises manage the cost spendings in cloud operations which can add value to RoI.

Looking for cloud cost optimization with a unique cloud strategy?