ServiceNow Cloud Cost Management on the Now Platform Washington D.C. release
ServiceNow® Cloud Cost Management, previously known as Cloud Insights, is the one of the very few enterprise-grade cloud cost management solution for FinOps teams. It offers a comprehensive approach to overseeing cloud usage and expenses across the enterprise. The integration of cloud resources with automated remediation workflows on the Now Platform and other technology assets enable the classification of expenses based on cost centers, while also facilitating transparent show back and chargeback reporting. Additionally, this solution extends to include budgeting recommendations and automated tasks for optimizing costs, thereby improving the efficiency of FinOps processes.
For the Washington D.C. release, there are two key features:
- Container cost management
- Shared cost allocation
Container cost management
As cloud has become the new norm, containerized infrastructure is seeing higher rates of adoption. Customers need a way to manage their spending in these container services from cloud providers. They also need a way to allocate costs of container services to respective teams that are using these shared services. Container cost management allows users to view and analyze costs for a Kubernetes cluster on cloud and narrows down results by using various filters such as time, cost type, and grouping options like Kubernetes cluster, Kubernetes namespace, and tag category.
Shared cost allocation
Customers often use multiple cloud services offered by services providers like AWS, Azure, or GCP. Some cloud services costs may be shared among multiple service providers and customers may struggle to allocate such costs across these groups. Shared cost allocation helps customers view, analyze, and manage the cost of shared cloud services across various business domains and allocate costs to these multiple lines of business. This helps individual teams take more spend accountability and democratizes costs.
Container cost management and shared cost allocation go hand in hand to help allocate and manage cloud costs. Whether it’s distributing costs amongst different cloud providers or sharing costs between different departments and teams, these features increase visibility, spend accuracy, and accountability for cloud costs across the organization.
