Companies are battling to control cloud expenditure and reduce waste as a result of the rapid cloud migration and the increasing complexity of managing cloud usage and costs. This task becomes even more urgent when companies consider that they must reduce costs and maintain revenue.
Nearly half of businesses (49%) find it difficult to keep cloud costs under control, and 54% believe their primary source of cloud waste is a lack of visibility into cloud usage, according to a new survey from Anodot, the business monitoring company.
This cloud cost visibility issue has real implications for businesses' bottom lines: as they struggle to understand their cloud costs and cloud usage efficiency, they are unable to efficiently manage their cloud expenditure and reduce waste.
Reining cloud spending
Cloud spending is becoming one of the most costly resources for a growing number of organizations, and IT, finance, and C-suite executives are focusing on strategies and tools to maximize cloud expenditure, minimize waste, and centralize cloud cost management. Nearly 90% of respondents feel optimizing their cloud spending and reducing costs is very or extremely important.
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In addition to the lack of visibility, businesses describe a number of challenges in reducing their cloud costs: 50% of respondents said complex cloud pricing is a challenge; 49% said the same about managing complex multicloud environments.
Additionally, 73% of respondents said their company is using container tools to architect more cloud infrastructure, and 59% are using three or more tools to manage and optimize their cloud environment, both of which contribute to a lack of clarity on the true costs of a businesss cloud services.
In June and July 2022, Anodot conducted a two-week survey on cloud computing. 131 high-level information technology executives who have a direct line of sight into how much their organization spends on cloud computing
Read Anodot's entire report here.