A lot goes into the dollars and cents.
Cloud cost management is an equation with many moving parts:
Cost = ƒ(utilization + performance + security).
If you want to optimize your investment, you need the complete picture across your entire environment. You need an independent platform with the ability to precisely analyze every facet that impacts cost.
Analyze costs by business groups.
Understand your cloud spend from a business perspective based on the groups you define. Create and share cost analysis reports for departments, lines of business, applications and more. CloudHealth enables you to breakdown your cloud costs, allocate them to business groups across the organization, validate the charges, and then forecast your monthly spend. We also give you visibility into Cost Burndown reports for Azure and amortization reports for AWS.
Allocate and amortize cost for accountability.
No two organizations have the same cost management and reporting requirements. That's why you need a platform with both detailed data and flexibility to meet the demands of your cost allocation and amortization reporting.
CloudHealth makes it easy to use both standard and customized reports to allocate your cloud costs by the business Perspectives you create. This includes assets, services, and service items across AWS, Azure, Google Cloud, and the data center.
The CloudHealth platform simplifies reporting for amortized cost by performing the heavy lifting for you. CloudHealth’s enhanced amortization reports give you the ability to account for amortization by both purchase and usage.
The bottom line: you want to see your cloud costs allocated and amortized across your organization accurately in order to meet business reporting requirements. CloudHealth gives you a comprehensive solution to meet the needs of even the most complex environment.
It is vital for finance professionals to have a complete grasp on cloud expenditures (and where they are coming from) in order to properly allocate costs and evaluate performance.
In this video, you'll learn about steps finance professionals can take to effectively manage cloud spend.
Reveal and eliminate hidden costs.
The first step to combating cloud infrastructure costs is to gain visibility into areas that are not readily apparent in your environment. By identifying these hidden resource costs you can hold individual departments and lines of business accountable for their cloud usage. CloudHealth enables you to easily reveal areas of high and/or rapidly growing spend and then implement best practices for improved cost management and optimization. Common areas of hidden costs include:
- Underutilized infrastructure
- Aged snapshots
- Zombie infrastructure
CloudHealth gives you the functionality you need to put the appropriate rules in place and then automate the process to eliminate these hidden costs and improve your bottom line. Read our eBook for best practices to identify and eliminate cloud infrastructure waste.
The right resources for the right workloads.
Evaluate and optimize resource utilization and efficiency across your cloud environment to maximize your return on investment. CloudHealth delivers integrated recommendations for improved reservation management and rightsizing. With CloudHealth you gain insight into overall utilization of reservations and infrastructure with detailed recommendations for AWS EC2 and RDS instances, EBS volumes, Azure Virtual Machines and more.
Let CloudHealth do the heavy lifting for you by defining active-policies that perform the analysis automatically and take into account cost, usage, performance and security considerations for each environment. We give you detailed reports that assess the overall health, utilization and potential cost savings for your cloud assets. You can even perform analysis by individual business groups like product lines, workloads, or cost centers. This allows you to focus on those opportunities that offer the largest cost savings.
Manage reservations confidently.
Amazon Reserved Instances are a key component of the cost management equation. Customers who fully leverage this feature can achieve up to 60% savings on their compute costs. However, purchasing Reserved Instances (RIs) can generate a lot of questions and comes with a significant administrative overhead. CloudHealth takes the guesswork out of RI management and simplifies the process to help you maximize the return on your investment.
CloudHealth gives you everything you need to manage the full life cycle of RIs. Everything from analysis, RI Optimization, Modifications, purchases, to automated policies for ongoing management. We’ve taken a holistic approach to the entire process and made it easy for even the most complex environments.
Achieve financial governance.
As your cloud environment grows and the number of users across the organization expands, you need an easy, effective way to centralize financial governance. CloudHealth gives you the ability to implement some simple best practices that yield big results.
Define cloud-operating budgets by any of the business Perspectives you create – departmental, line of business, workload and more. CloudHealth will proactively notify key stakeholders when they are at risk of exceeding their budgets based on policies you create.
Accurately charge back costs to your business groups for cloud usage. Leverage Perspectives to easily allocate costs to the appropriate department, user, environment, and more.
Increase return on investment.
How do you determine cloud ROI? There are many elements to consider: speed, agility, flexibility, rate of innovation, resource availability and capacity, redundancy, utilization, risk management...the list goes on. Cost management cuts across all of these key factors. Optimize cost, and you lay the groundwork for a successful cloud deployment that will be a business driver, not inhibitor, regardless of scale.