It’s a new year, which means it’s a new opportunity to save on your cloud costs. At the start of every year (and every quarter), you should closely examine your cloud infrastructure and examine whether or not it is hurting or helping your business overall. So, this is the ideal time to dig deep and conquer those out-of-control cloud costs.
However, it can not happen overnight. It takes time to assess, rework, strategize, and move ahead into a more optimized and cost-effective future.
Thankfully, at FinOps Oversight, we can help you get there.
What Is Causing Cloud Overspending?
There is no single reason for out-of-control cloud costs. There might be several reasons your business’s cloud budget is never adhered to properly, so evaluating every area of your cloud environment is essential.
Overspending Could Happen Because…
- Overprovisioning
- No Integration of New Technologies
- Lack of Monitoring
- Lack of Optimization
- No Governance or Policies
- Complex Billing Structures
- Rapid Cloud Migration With No Plan
It is essential to identify gaps in your cloud infrastructure and develop strategies to resolve them so that you do not lose more money.
Evaluate What You Have and Decide What You Don’t Need
The moment you notice that your cloud costs are soaring, it is time to stop and evaluate what is happening. Get together with your IT, Cloud, and FinOps team to review your cloud infrastructure workload by workload and resource by resource. Many businesses overspend on their cloud because of old or forgotten resources or policies that they haven’t had a chance to clean out or reorganize.
If your business has grown in the past few months, your cloud infrastructure must adjust accordingly. Additionally, if you have merged with another cloud provider or changed providers, you can not assume that everything is still working in tip-top shape and providing you with the most savings and optimization.
This is your opportunity to decide what you do and do not need in your cloud environment and work with your teams to establish new cloud policies and governance to make savings happen.
What Resources Are You Utilizing?
There are many cloud services and products out there that help keep your cloud infrastructure optimized and on the route of savings. One of the best answers to conquering out-of-control cloud costs is to decide which of these tools and resources could be implemented into your business.
With so many monitoring and management tools, there should not be an inch of your cloud environment you are blind to. The switch from no visibility to full visibility could be as simple as adding in resources such as an Invoice Manager, Tag Manager, or MAP Manager.
These resources were created to help businesses see what is going on each day and make the right choices in order to save and optimize.
Is Your Team Set Up for Success?
Implementing cloud services into your business means that you should have a designated team at the ready to handle the cloud’s needs and evolution. This might be a team made up of IT, engineering, finance, procuring, C-suites, and anyone else who might need to know about the growth and changes in the cloud.
If you do not have a proper team in place, you could be running into some massive problems. Many times, cloud responsibilities might not be taken seriously, leading to one person glancing at the happenings within the environment and thinking everything is aligned with the goals of the business. However, this could cause even more damage.
It is essential to have a team in place who can look at the cloud infrastructure from different perspectives, understand what is needed, and make decisions based on the optimization and saving goals of the business. With this team in place, you can better conquer out-of-control cloud costs.
Your Beacon of Hope: FinOps Services
Finally, the best way to conquer your out-of-control cloud costs is through FinOps services.
If you are partnered with a cloud provider, implementing FinOps practices in your organization should be an immediate next step. FinOps will be there to enforce your optimization and savings goals, working with your cloud team to create and implement strategies for growth and the future of the business. Most importantly, FinOps practices understand that every business is different, so there are multiple products and services to take advantage of.
At FinOps Oversight, we offer a variety of resources for businesses to utilize depending on their needs and what they are looking for in their cloud environment. If you are tackling costs, deciding on our Cloud Spend Management service can help implement a three-phase savings plan into your organization with ease.
Additionally, you could implement Cloud Managed Services that provide help with cloud migration, design and deployment, 24/7 support, and simple monthly pricing. No matter what your cloud needs are, FinOps Oversight can partner you with the right products and services to get you the savings your business needs.
If you have further questions or want to conquer your out-of-control cloud costs, contact the team at FinOps Oversight.