The cost conundrum of cloud computing
For most businesses, change is driven by the need to reduce risk and innovate, while optimizing cost and return on investment. In the case of cloud adoption, the powerful functionality offered by these platforms enable businesses to streamline, optimise, and make their workflows more efficient which, in turn, helps reduce costs. Organizations are always looking for the best solutions for optimizing efficiency and reducing costs, particularly in uncertain economic times.
Yet, in reality, migrating to the cloud does not always bring the cost optimization and savings that an organization is looking to benefit from. Depending on which cloud solution is being evaluated, along with how the solution is designed, built, and deployed, the result may not deliver on the project’s original goals.
Getting on top of spiraling cloud costs
Cloud computing has revolutionized the way organizations operate, enabling scalability and helping businesses remain agile in ever-changing landscapes. However, what may have originally been touted as a cost-saving solution has become increasingly difficult to manage.
Hyperscaler cloud services have the potential to offer huge cost savings due to their economies of scale. However, these savings may not always be passed down to customers. Moreover, the opaque pricing models of the larger service providers make the accurate estimation of costs difficult. The ease of provisioning resources in the cloud can also lead to significant overspending if not properly managed. Yet there are a variety of methods that can help cloud users better manage their increasing costs. Through the correct management, users can both reduce their cloud spend and better anticipate their monthly bill.