Why Cloud Cost Optimization Should be A Business Priority
Published on May 17, 2022
4 min read
Organizations are increasingly turning to multi-cloud strategies for greater flexibility and agility within their IT infrastructure. But even though leveraging multiple cloud providers can give them better performance, high speed, and greater protection against downtime. It can be incredibly difficult for them to effectively track costs across several cloud environments.
From the initial cloud migration to managing to spend once the deployment is complete. IT teams working for organizations are under huge pressure to both monitor and reduce cloud costs.
A task that cloud providers have unfortunately turned into a laborious chore. The pain of getting hit with unexpected costs is a point the Wanclouds team regularly hears from our customers, for example. We often hear from AWS users who are frustrated by hidden charges and a lack of company-provided cloud visibility.
This feedback spurred us to launch version 2.0 of our Multi-Cloud Spend Visibility and Cost Optimization feature. The feature is now available for AWS cloud environments on Wanclouds’ VPC+ solution as part of our multi-cloud Disaster Recovery as a Service (DRaaS) and Migration as a Service (MaaS).
Here’s why cloud cost optimization should be standard for every business, as they look to scale their cloud-native journeys.
The Number of Applications Deployed to the Cloud is Multiplying
According to McAfee, large enterprises with 50,000 or more employees run 788 custom applications on average. While smaller companies with 1,000 employees or less run an average of 22.
You would be forgiven to think that the latter is minuscule when read right after the former. But when you consider these applications are managed by IT teams with already hefty workloads. It’s easy to understand how they could struggle to oversee costs across their cloud environments. This is especially true in the migration stage
According to Wanclouds’ 2022 Cloud-Native Trends Report; A big part of US and UK organizations say the typical time required is 1-2 months, to finish a single multi-cloud application migration effectively.
Applications to migrate and the complexities in migrating across multiple clouds are leading to migrations taking a bigger budget than expected. According to IT leaders, the challenge they most often faced with multi-cloud migrations is that it takes a bigger budget than expected.
The good news is that Wanclouds’ MaaS solution offers these organizations a complete per unit price. This function allows companies to ensure that migration costs will not get out of control. Wanclouds also provides a migration option, allowing companies to migrate individual components or their entire infrastructure. Customers report more than 50% savings when compared to other traditional migration processes.
The Spiraling Costs of IT Downtime
According to Gartner, the cost of IT downtime now stands at around $5,600 per minute. This can be as high as $540,000 per hour on the upper end. Meanwhile, in ITIC’s 11th annual Hourly Cost of Downtime Survey: 98% of large businesses revealed that a single hour of downtime has cost their company $100,000.
The above data reveals how important a cloud cost optimization strategy is for every organization. It also describes how data must include a quick migration solution that minimizes downtime when applications are being moved across clouds.
Wanclouds offers both as part of its VPC+ DRaaS and MaaS suite, an on-demand service that reduces the financial investment and technical complexities that often stop or delay businesses from starting their migration journeys or setting up disaster recovery protections.
VPC+ enables IT teams to efficiently perform multiple migrations at once, thus saving them time and money, and back up and restoring applications on-demand in the event of a downtime incident. These benefits are critical for IT leaders operating against a backdrop where the cost of doing business on the cloud is growing more expensive, and threatening their organizations’ overall financial health in an already uncertain market.
The Need for a Holistic View of Spending Across the Multi-Cloud
As organizations increasingly shift to hybrid and multi-cloud environments. IT teams should have the option to create a full view of their cloud spending across multiple environments. But the truth is, this is very hard to achieve when every cloud provider platform has different cost optimization capabilities.
When it comes to resource tracking across different accounts and visibility on spending, for example, Amazon provides basic tools, but they generally lack real-time and enterprise-wide insights on how to optimize costs.
Wanclouds Multi-Cloud Spend Visibility and Cost Optimization 2.0 feature for AWS cloud migration addresses this issue. It eliminates sticker shock for SMBs from unexpected cloud costs. and provides larger organizations with a singular spend dashboard to optimize resources by identifying underrated and idle instances that can be backed up and restored in the future.
With Wancloud's new version of Multi-Cloud Spend Visibility and Cost Optimization, companies can easily add these accounts and AWS resources to VPC+ for a holistic view of their business spending on AWS.
The functionality of the Multi-Cloud Spend Visibility and Cost Optimization 2.0 features includes:
- Sorting of costs based on resources
- Tagging of cloud resources based on their engineering stage (development, testing, production)
- Visibility of cloud spending on a cost-per-day and cost-per-month basis
This easy-to-read cloud cost management is available to Wanclouds AWS users at a cost of around $0.01 per day.
To trial Wanclouds’ Multi-Cloud Spend Visibility and Cost Optimization 2.0, visit VPC+ on the AWS Marketplace or contact a team member today to learn more about VPC+!
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