Why Cost Management for your Cloud is Beyond Essential
“The essentiality of cost management” itself becomes demystifying when it comes to leveraging the cloud. In an AWS-dominated cloud world where on-demand and pay-as-you-go pricing models sound reassuring, the newbies entering the Cloud make it obvious for themselves to spiral their cloud costs out of control.
But wait! Enterprise IT initiatives are not the only ones that mess up their cloud cost management. Having a fun time leveraging hitherto unavailable benefits of cloud, like scalability, availability, and all the trending buzzwords, even the veteran cloud players neglect to keep a granular track of their spending. Subsequently, over-sized spending and hidden costs put them in an incompetent situation to control their cloud costs.
Adding to the above fact, only a handful of companies are taking stern actions to optimize their cloud costs, such as turning off unused workloads and instances or opting lower-cost clouds or regions.
Though the mostly incomprehensible invoicing is never a deterrent to not use the public cloud or, AWS to be specific, it sure does make things difficult.
With all the extensive conditioning done by infomercials, ‘having more’ is more of a problem, especially when you take up the decision of being on the cloud and do not take the right approach to measuring that decision. Though controlling expenses and decrypting billing trends, associated with cloud have evolved to a convinced milestone, there is still a lot of scope for improvement and resolving the lingering queries about whom to trust to get the cloud spending managed.
Taking the Right Approach to Cloud Cost Management
According to Gartner’s key finding, “Organizations utilizing IaaS without Cloud Service Expense Management (CSEM) processes will almost certainly have unnecessary spending.”
To settle on business-critical and financially profitable decisions aligned with the public cloud, IT pros and teams must keep a check on their cloud usage and costs. AWS surely does a laudable job of offering their cloud services worldwide, but it sadly doesn’t do the same when it comes to breaking down the cost and billing console into digestible chunks that every customer can get through.
There are tools dedicated to cloud cost management that help administrators monitor the enterprise-wide spending, gain actionable insights & recommendations on cost optimization and receive customized budget & spend alerts.
However, before opting for a cloud cost management and monitoring tool, enterprises must look for one elementary feature; the ability to monitor and track the use of all the acquired public cloud instances and the ability to identify when to scale them or turn them down completely.
A dedicated CSEM tool, deployed on a serverless architecture that tells you in plain words what you are paying for and how much, in as much detail, as you can handle is the next best thing to swipe off your cloud cost amok.