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Hello Hello,

The cloud. Love it or hate it, it’s enabled powerful transformations in how you do business. It’s where you store, manage, and process data that keeps your business moving forward.

But what is the cost of the cloud’s efficiency? Are you overpaying for it?

That’s exactly what happens to many of today’s businesses, with 82% of organizations sharing that cloud spending is a crippling and concerning factor, as noted by a recent Flexera report. It’s not about doing away with this cost-saving investment — but gaining the insight you need to optimize cloud technology.

Here are the top three questions you should be asking about cloud costs to get the answers you need:

💨 Cloud computing costs: How important is it to take a closer look?

Cloud cost optimization starts with information. To get the best cost insight, routinely review and identify the following :

  • Budget accuracy and overages
  • Pricing and billing information with all cloud tools utilize
  • All idle resources you’re paying for and not using
  • Unutilized resources you’re paying for that could do more for your company
  • Cost anomalies to determine their source

Most organizations implement a budget and strive to meet it. Yet, too few organizations review that budget, find out where their money is actually going, or look for savings opportunities.

💨 My cloud costs haven’t risen, so what’s the concern?

Even in long-term contracts where costs month-to-month doesn’t change, it’s very common for companies to see added costs. When new features, tools, and software applications are added, your costs rise, even if your budget isn’t.

You’re usually paying for much more than a single, simple service. Cloud costs may include:

  • Networking costs to maintain the network
  • Storage costs to operate the company’s storage hardware
  • Computing costs to support cloud-native computing applications, fees, and operating system costs

Even the most well-designed cloud system cannot be perfectly optimized from the start. With consistent monitoring and a bit of research into what you’re actually using and benefiting from, you can make changes that could save you thousands of dollars a month.

A technology expense management SnapShot Audit can help right-size your services to help costs including:

  • Optimize cloud usage
  • Reduce overall cloud costs
  • Improve peak performance with the resources you have now
  • Eliminate costly overages and fees
  • Determine what better solutions exist

💨 Should I be worried about overpaying for the cloud?

Flexera’s report found that 18% of surveyed organizations are overpaying significantly in their public cloud. They reported a 39% average increase in cloud spend over budget in 2022 compared to the year prior.

More so, respondents reported public cloud waste was 28%, which accounts for services they are paying for but not using or underutilizing.

A comprehensive SnapShot Audit can provide clarity into what you’re spending and where you’re losing money. It’s not about cutting away valuable tools and services but ensuring you’re getting the best out of that service.

There are situations where a different cloud provider could be a better fit and more affordable. Other times, it’s about trimming away all of the fat and cleaning up the services and features you already have. Either way, we can help you do just that.