Exploring Cloud Cost Management
Summarize
Summary of Exploring Cloud Cost Management
Cloud Cost Management enables organizations to analyze and optimize costs associated with cloud assets. It helps identify opportunities for savings and operational enhancements through continuous monitoring of cloud infrastructure.
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Key Features
- Cloud Cost Management Workspace: Provides a user-friendly interface for monitoring cloud spending, catering to executives, FinOps practitioners, cloud managers, and administrators.
- Rightsizing Resources: Delivers automated recommendations for adjusting cloud resources to better match actual usage, primarily benefiting administrators and application owners.
- Reservation or Saving Plans: Facilitates cost reduction by transitioning from on-demand payment plans to more economical reservation plans for cloud resources.
- Identifying Unused Resources: Analyzes high expenditure areas to pinpoint stranded assets, helping administrators and application owners to manage costs effectively.
- Automated Resource Management: Identifies and manages cloud resources that are unused outside of business hours, enabling automatic shutdown and startup of these resources.
- Cloud Budgets: Supports the allocation of budgets for cloud expenditures, used by FinOps practitioners and cloud administrators.
- Change Management Integration: Automates optimization approvals and integrates cloud management tasks into existing change processes for streamlined operations.
Key Outcomes
By leveraging Cloud Cost Management, organizations can achieve greater visibility into their cloud expenditures, optimize resource usage, and implement cost-saving measures effectively. This leads to improved financial management and operational efficiency across cloud environments.
Learn more about Cloud Cost Management with a sample workflow and reviewing the benefits that it can provide for different users in your organization.
Cloud Cost Management overview
Cloud Cost Management helps you analyze the full range of costs related with cloud assets so you can identify and act on chances to save money and optimize operations.
Cloud Cost Management workflow
Cloud Cost Management continuously monitors your cloud infrastructure to analyze costs so you can identify and act on resources to save money and optimize operations.
Cloud Cost Management benefits
| Benefit | Feature | Users |
|---|---|---|
| Optimize cloud costs and usage by gaining complete visibility of your cloud spend and usage through an intuitive and streamlined user interface. | Cloud Cost Management Workspace | Executives/FinOps Practitioners/Cloud Managers/Cloud Administrators |
| Rightsize cloud resources by getting automated recommendations on how to reduce cloud costs by correctly dimensioning cloud resources to match usage. | Rightsizing resources | Cloud Administrators/Application owners |
| Decrease costs by the conversion of on-demand payment plans to reservation plans for your cloud resources. | Reservation or Saving plans | Cloud Administrators/Application owners |
| Identify cost optimizations targets by analyzing areas of high spend and stranded cloud assets. | Unused resources | Cloud Administrators/Application owners |
| Turn off resources when not in use by identifying cloud resources that aren’t used outside normal working hours and automatically turn them off and on. | Business hours | Cloud Administrators/Application owners |
| Allocate budgets | Cloud budgets | FinOps Practitioners/Cloud Administrators |
| Automate optimization approvals by integrating cloud optimization tasks into your existing change management processes. | Change Management | FinOps Practitioners/Cloud Administrators |