The pandemic acted as a catalyst for cloud adoption in organizations around the world. 92% of organizations globally moved to the cloud. However, adopting the cloud and using it to its optimum value is something that organizations still struggle with. The lack of technical knowledge among existing employees has caused a significant increase in demand for technical experts. It becomes far more convenient to opt for cloud optimization services than to hire a new set of people.
What is Cloud Cost Optimization?
Cloud Cost Optimization is used to identify and eliminate underused or unused resources. It is a way to ensure your cloud environment is the right size according to your uses and you are not overpaying for cloud services, while still maintaining your organization’s performance.
How does Cloud Cost Optimization work?
A key feature of using cloud environments is that you can track the utilization data of each cloud service. Standardizing the availability of resources across your organization and when to deploy them is paramount to optimizing your cloud costs. The goal of building a complex cloud system isn’t just to cut costs. It's about identifying waste and ensuring you are maximizing the value of the money you spend. There are a number of methods to approach cost optimization when handling cloud environments.
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Monitoring underutilized resources – The most direct way to reduce costs is to do away with unused resources. Developers may create a temporary server to perform a specific function and forget to close them down after completion. Cloud services bills usually charge for all services that are purchased, whether or not they are being used. Identifying and removing these resources is the easiest step you can take toward bringing down cloud costs.
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Resource usage management - The goal here is to implement a specific set of standards that intersects cost and performance within a cloud environment optimally. The companies that are successful at avoiding waste know how to optimize their resource consumption in a decentralized fashion. Individual application owners are usually the best equipped to shut down or resize resources due to their intimate familiarity with the workloads.
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Cost control – This process involves knowing what you spend on in detail, the way particular services are billed, and the ability to display how you spent a specific amount to achieve a certain outcome. You can accurately map your costs to your organization's operational structure using a standardized strategy for organizing your resources.
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Rightsizing – It is a process of matching instance types and sizes with the appropriate capacity and workload performance at the lowest possible cost. It involves continuous analysis of the instances and recognizing opportunities to reduce or terminate instances that are overprovisioned to the workload, without compromising on the organization's requirements. Rightsizing reveals the location of your assets and determines whether they are useful or not.
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Training, managing & communication - The employees of an organization are what makes cloud cost optimization possible. Determine a way to review, monitor, and control cloud costs, and empower team members across departments to work together to manage their usage.
Benefits of using Cloud Cost Optimization
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Boosts Visibility - Using Cloud Optimization Services will help locate uses, expenses and profits from each unit of your business. This increases visibility around the organization and allows better orientation of cloud expenses according to your business needs. These services provide you with a lot more than cost management. With Cloud Optimization Services you can plan and scale your business while having complete visibility of your cloud environment.
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Provides Expert Accessibility - The gradual shift of organizations to the cloud has increased the demand for technical experts. However, most of them lack the necessary in-house expertise, creating cloud skill gaps. Choosing Cloud Optimization Services helps you reduce these gaps. These services will work with your existing teams by providing them with access to experienced and certified specialists.
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Drives Innovation - Organizations using cloud optimization equip their teams with skills that will help enable quick decision making, enhance the effectiveness of your workflow and bring proposals to action quickly. They allow their teams to make effective decisions at every level. When employees are focused on their core tasks, they can work more productively. This enables organizations with multiple teams to make optimal use of their cloud resources and save costs.
Why Cloud Optimization?
Optimizing your cloud assets will streamline the operations of your organization. Many teams don’t have the time or tools to go through cloud workloads that have already been migrated. This is where working with cloud optimization services can help.
A Cloud Optimization strategy is essential for enterprises to enjoy cloud benefits such as reduced costs, switching of operations from the cloud to on-premises architecture and boosting productivity. They also need to ensure that the migration pays off in the short and long term.
Challenges
Adopting cloud computing has a number of challenges. Cloud cost management is among the biggest of them. Organizations face challenges in creating precise cost estimates, as when it comes to using public clouds such as Infrastructure as a Service (IaaS) and Platform as a Service (PaaS), they are charged continuously based on consumption. Financial management is usually not given much focus until costs go out of hand. However, cloud computing gives organizations real-time visibility of IT costs and helps them drive more efficient usage of resources.
How InspiriSYS can help
Cloud Optimization means a lot more than just optimizing your cloud expenses. If you are looking for a progressive approach to improve how you measure your cloud needs and make your cost decisions at the earliest, look no further than InspiriSYS.
Our team of experts can help you not just manage your cloud environments seamlessly, but also achieve faster business growth and deliver stellar performances. Optimize your cloud costs today. Get in touch with us.
