What is cloud spend management?
Cloud spend management, also known as cloud cost management, enables organizations to gain visibility into their cloud spending.
This involves gaining a thorough understanding of cloud usage patterns, identifying areas of inefficiency or waste, and implementing measures to prevent unnecessary expenses.
Prepare cloud budgets with greater predictability
With cloud costs varying drastically across any given day, week or month depending on your business model and the cloud services you’re using, the ability to manually predict and effectively manage cloud spend is near-on impossible – even with the standard AWS tools in place.
With Vertice’s cloud forecasting insights, you can prepare cloud budgets and cash flow models with far greater predictability. This is because the platform:
- Allows you to drill-down into your current and historic cost drivers and see both short and mid term variability, as well as YoY growth projections
- Provides a breakdown of your costs and usage by product, service, category and purchase option
- Leverages thousands of data points, making it easy for you to create product line P&Ls by accurately attributing your costs
Save up to 60% on your AWS EC2 spend
Managing discount commitments is not only cumbersome, but the manual management of a Reserved Instance (RI) portfolio is also incredibly complex and often results in over or under provisioning. As a result, you can end up either wasting resources and achieving suboptimal cost savings, or pay higher fees and risk performance.
More specifically, our platform:
- Manages your entire RI inventory, coverage and utilization in one place
- Provides you with granular control at a product, instance family and region level
- Continuously monitors your usage to make the most informed recommendations
Fulfill your EDP commitment obligations
AWS’ Enterprise Discount Program (EDP) has the potential to drive significant cost savings, but if your organization fails to meet the committed spending levels, you not only risk losing out on the discount, but you may also incur hefty financial penalties.
With a cloud spend management solution in place, this can be prevented. At Vertice, we will continuously monitor your EDP utilization and provide you with full visibility of your ongoing usage. In addition to this, we will:
- Provide you with an understanding of how you are tracking against AWS’ break even points
- Advise on key contract terms, term length and commitment growth
- Deploy our negotiation expertise and benchmark data to negotiate the highest savings and best possible terms
Free up valuable time while managing your cloud spend
Optimizing cloud costs is both complex and resource intensive. Even for organizations that can afford to dedicate valuable engineering resources to the task, the full breadth of cost savings are rarely uncovered.
While this is largely down to lack of cloud spend and usage visibility across different services, accounts and regions, cloud workloads are also often dynamic with fluctuating demands. This means that in order to control spend, you need to analyze usage patterns, manually identify peak and idle periods, and determine the optimal allocation of resources, each of which requires a huge amount of time and effort.
With Vertice, it doesn’t need to.
- Get detailed and actionable savings recommendations that require minimal engineering effort – some are even automatically implemented on your behalf
- View comprehensive cloud spend and usage information, presented it in a simple and digestible format
Ready to cut your cloud spend by up to 25%?
Over $1 million is wasted each year by the average organization. This no longer has to be the case.
Your cloud costs don’t need to be sky high. Discover the new industry standard for cost-effective cloud management.