Cloud Cost Management

Through comprehensive IT financial management, companies gain in-depth insights into their cloud expenditures, optimize costs, and maximize added value. Is your enterprise's cloud provision delivering value for money?

Tackle cloud cost challenges head on

While the cloud offers numerous benefits, it also presents a set of unique challenges, particularly in managing and controlling expenses.

Lack of visibility

In a multi-cloud or hybrid cloud environment, tracking and managing cloud costs can be challenging due to the lack of centralized visibility. This can result in unexpected cost overruns and hinder financial planning.

Complex pricing models

Cloud service providers offer a multitude of services, each with its unique pricing model. Understanding these pricing structures and optimizing costs accordingly can be daunting for CIOs.

Inefficient resource allocation

Allocating resources efficiently across various workloads and applications is crucial to avoid unnecessary expenses. However, without proper monitoring and optimization, resources can go underutilized, leading to wasted costs.

Balancing costs and performance

Balancing cost optimization with performance requirements can be a delicate task. CIOs must strike the right balance to ensure optimal cloud utilization without sacrificing performance or user experience.

Cloud Cost Management and FinOps

Realize cloud cost savings up to 10% with Serviceware's ITFM solution that comes with cloud cost management. Gain a holistic and clear picture of cloud economics and how much money you're actually spending on cloud provisions.  Seamlessly integrate the Serviceware ITFM and cloud cost management solution into your existing cost model. Or, with the Serviceware Digital Value Model approach, you can immediately generate insights and analyses of your cloud spend through an out-of-the-box integration into technology business management.

Seamless integration

• Discover the true total cost of ownership (TCO) for your cloud services and downstream services, such as cloud-based applications.
• Implement automated and cause-based billing that accurately reflects your cloud service usage.
• Compare the performance of cloud and on-premises solutions, particularly in the infrastructure domain. 

Cost transparency

Leverage insights to

• analyze plan, actual, forecast, and simulation values and perform deviation analysis to understand cost trends and anomalies.
• monitor cost developments, such as rising costs in the compute and storage sector, to ensure optimal resource allocation.

Plan and forecast

Use the integrated planning and forecasting tool to

• plan and forecast your cloud costs holistically as part of your overall IT budget.
• consider dependencies in the value chain fully in your planning and forecasting, for example, an increase in the cloud space due to increased business demand for certain applications. 

Automate cloud tasks

Develop personalized rules that automate everyday cloud tasks like billing for cloud services. Accelerate decision-making and lower potential risks.

Hold teams accountable

Track expenses by department and encourage responsible spending in line with budgets.