2022's Guide to Choosing the Right Cloud Cost Optimization Tool

 What is Cloud Cost Management?

With technology taking over most of our work, it is now easy to manage a business' cloud costs using the cloud cost management tool or public cloud optimization tools. Cloud Cost Management is the process of estimating, organizing, managing, and controlling the cloud spending of a business. A business needs to manage its cloud server and other cloud-related costs optimally and efficiently. A Cloud Cost Management Tool helps a business in reducing its cloud waste through its alert system for different parameters like low demand, unstable cloud usage, and many more. Thus, a cloud governance platform acts as a guarding tool for all the cloud resources a business deploys in its operations.

Benefits of adopting Public Cloud Optimization Tools

  -  Effective Budgeting
  -  Accurate Forecasting
  -  Monitoring Cloud Usage and Costing
  -  Proper Resource Allocation across the business
  -  Managing to overspend cloud resources

 
How to choose a Cloud Cost Management Tool for your business?
 
Transparent Visibility - A cloud cost management tool that offers transparent visibility into the performance, allocation, costs and other aspects of its application gives a reliable and transparent view of the cloud spending and performance structure of a business. This helps the business in forecasting, reporting, and making decisions in its business operations.

Recommendation for cost-saving - A good cloud cost optimization tool gives you cost-saving recommendations and helps in monitoring the costs and how to cut the excess costing. Such a public cloud optimization tool tells when a resource is running redundant or when the resources are over provisioned.

Trend Analysis - A cloud governance platform that can deliver insights into the future trend analysis helps in predicting the costs to be spent based on a business' consumption trend.

Automated alerting system - A cloud governance platform or tool should have a set of automated alerting features that will scrutinize a business' cloud usage, keep cloud costs in regular check, and alert if there are any concerns.

Best Cloud Cost Management Tool of 2022

FinOps by AquilaClouds

We recommend the FinOps tool by AquilaClouds which fulfills your cloud costing needs. FinOps assesses the financial health of a business and generates alerts and reports regarding a business need and provide ways to rectify the cloud allocation.