Under increased pressure to control growing cloud costs, organizations are seeking to maximize the value of their cloud spending. This means an increased need for clarity and solutions that help execs understand and manage IT tech spend — but how can you find cloud spending clarity? For many, Financial Operations (FinOps) solutions are the answer.
FinOps solutions are crucial to solving technology cost challenges. These practices are designed to control, simplify, and streamline tech expenses to better align with corporate goals, maximize ROI, and drive profit.
SpyGlass is here to help you understand and benefit from FinOps.
Cloud computing offers businesses many advantages, including flexibility, reliability, and space for innovation to drive efficiencies. However, as businesses realize the advantages of moving more services into the cloud, the need for cloud space has increased dramatically. In response, tech spend costs have become a murky, unmanageable behemoth in many organizations.
As cloud computing grows, many companies are paying for more services than they need, are paying for duplicative services, or are missing other inefficiencies that negatively affect budgeting and forecasting for these tech-related expenses. Case in point: 32% of cloud spending was wasted in 2023, up from 30% the previous year.
The result? Bills are paid reactively instead of proactively, and more cloud expenses are added each year.
What’s missing? Data-driven spending decisions.
For business and financial executives, smart FinOps practices can leverage cross-collaborative efforts to understand, control, and reduce tech spending.
Intelligent, data-driven FinOps management efforts help you uncover and eliminate unnecessary spending, streamline and simplify services, and make better, more informed decisions based on cost analytics and strategic pricing decisions that will align with business goals.
If your finance department is paying bills in reactive mode instead of tying targeted tech spending to corporate goals, it’s time to change how you manage your cloud costs. Without an audit of where you might be spending unnecessarily, you can’t manage and reduce those expenses.
A technology expense management (TEM) SnapShot Audit from SpyGlass blends analytics, automation, visualization, and easy-to-use software to deliver risk-free tech expense savings recommendations for your organization.
“Cloud computing isn’t new, but the challenge lies in managing multiple cloud expenses,” said Steve Fisher, Vice President of Strategic Services at SpyGlass. “Identifying inefficiencies requires visualization and automation expertise. That’s where we come in.”
SpyGlass provides granular cost analytics and strategic pricing decision information to streamline the entire IT budget for more precise, optimized cloud spend, including:
Take control of your cloud spending to ensure less waste and more accurate forecasting.
Start today with a SnapShot Audit.
Contact SpyGlass to inquire about a no-costs-up-front SnapShot Audit.
