Cloud Cost Management software monitors a company’s resource utilization and computing demands and helps them regulate their cloud services-related spending. To reduce the expenses of their pay-as-you-go strategy, these technologies are usually combined with infrastructure as a service (IaaS) software offering. Cloud cost management software helps businesses save money by informing customers when demand drops or automatically scaling usage to acceptable levels. These technologies are also used by businesses to improve the effectiveness of their cloud service utilization; cloud cost management solutions frequently include reporting features that highlight waste and redundancies. Although there is some overlap between cloud cost management software and SaaS spend management software, the latter is intended to track and manage expenditure on cloud apps rather than the cloud.
Table of Contents
Highlights of Cloud Cost Management Software
A product must meet the following criteria to be considered for the Cloud Cost Management category:
- Keep track of how much cloud infrastructure is being used.
- Keep track of your spending in relation to your resource utilization.
- Determine where you can save money by minimizing resource utilization.
Top 5 Cloud Cost Management Software
AWS Budget
AWS Budgets allows you to create custom budgets that will notify you if your costs or consumption surpass (or are expected to exceed) your allocated budget.
Features
Scheduling
Based on the results of 18 AWS Budgets assessments. Allows users to plan ahead for instances, updates, and other operational chores.
Automation
Based on the results of 19 AWS Budgets reviews. Scales resource usage efficiently to optimize spending with increased or decreased resource usage needs.
Users may manage and control their cloud spending across several cloud services and providers with Multi-Cloud Management. This feature has received feedback from 16 AWS Budgets reviewers.
Monitoring of Usage
Based on the results of 19 AWS Budgets reviews. Tracks infrastructure resource requirements and notifies administrators or scales consumption automatically to reduce waste.
Pricing:
For this product or service, AWS Budgets has not given pricing information.
Pros:
- Because most cloud services, such as AWS, offer pay-as-you-go choices, there’s a chance we’ll forget about the financials behind the scenes, causing us to go over budget on the project. As a result, AWS Budgets assists us in staying on top of our billings and avoiding unnecessary financial burns.
- AWS budget is a great tool for keeping track of your monthly business expenses.
- AWS Budgets is an excellent resource for avoiding paying more than you anticipated. It allows you to set a spending limit, which has proven to be a useful tool.
Cons:
- As a billing management tool, the AWS Budgets does its job very well. So nothing much to complain about it. It’s just that the pricing of AWS Budgets is a little bit high.
- With AWS Budgets, there’s nothing that one can dislike still for complex workloads it’s hard to determine the actual expenses for the services you will be using.
vRealize Operations
With unified monitoring, automatic performance management, cloud planning, and capacity optimization, VMware vRealize Operations combined with vRealize Log Insight and vRealize Business for Cloud helps plan, manage, and grow SDDC and multi-cloud environments. With full-stack visibility from physical, virtual, and cloud infrastructure—including Virtual Machines (VMs) and containers—to the applications they support, VMware vRealize® Operations TM automates and simplifies IT management. Continuous performance optimization, efficient capacity and cost management, proactive planning, intelligent remediation, and integrated compliance are all part of the package. It can be used on-premises or as a service.
Features:
Accelerate your move to the VMware Cloud on Amazon Web Services.
From planning and assessing migrations to putting the hybrid cloud into production, see how vRealize Operations Cloud makes operating your hybrid cloud easier.
Streamline Visibility Across Several Clouds
vRealize Operations fulfills the needs of modern IT strategies, including VM-based and containerized workloads, across private, hybrid, and multi-cloud deployments, and is available on-premises or as a service.
Maximize the Return on Investment (ROI) for Cloud Operations
Examine the potential return on investment (ROI), reduction in unplanned downtime, and other advantages that VMware vRealize Operations may provide in today’s hybrid and multi-cloud systems.
Accelerate your transition to the VMware Cloud on AWS.
See how vRealize Operations Cloud makes managing your hybrid cloud easier, from planning and assessing migrations to putting the hybrid cloud into production.
Pricing:
For this product or service, vRealize Operations has not given pricing information.
Pros:
- VRealize Operations includes a plethora of functionality, such as dashboards, reports, and metrics, to manage every aspect of your infrastructure.
- Many products are integrated, and a single platform may monitor multiple databases and applications.
- While compared to utilizing vSphere alone, I find the most value in the additional data/metrics it may provide when running numerous VMs across several datacenters.
Cons:
- During migrations, it occasionally lags and dashboards appear to be broken.
- YOU could no longer justify the cost for what we were utilizing it for.
- It may take some time to get used to the interface at first. It took me a long time to fine-tune the alerting so that alarms were reported accurately and that machines that didn’t need alerts, such as our development environment, were ignored. In addition, I found adding customized scripts as actions in response to warnings to be difficult.
AWS cost explorer
AWS Cost Explorer is a free tool that allows you to dig deeper into your cost and consumption data to spot patterns, pinpoint cost drivers, and spot anomalies. AWS Cost Explorer is a user-friendly tool that allows you to visualize, understand, and control your AWS expenses and use over time.
Create custom reports that examine cost and use data to get started quickly. Analyze your data at a high level (for example, total expenditures and usage across all accounts) or go deeper into your cost and usage data to spot trends, cost drivers, and anomalies.
Features:
Get started right away.
To assist you in immediately gaining insight into your cost drivers and consumption trends, a collection of default reports is supplied.
Decide on a time period and granularity level.
Set a unique time period and decide whether you want to see your data at a monthly or daily level of detail.
Costs and consumption in the future
Forecasting can help you obtain a better picture of what your future costs and use will be so you can plan ahead.
Keep track of your progress.
Save your progress as a new report that you can refer to in the future once you’ve arrived at a useful view.
Sort and group your information.
Use the filtering and grouping functionality to go further into your data using a range of accessible dimensions.
Create your own applications.
AWS Cost Explorer is powered by an interactive, ad-hoc analytics engine that you may use directly.
Pricing:
The AWS Cost Explorer API allows you direct access to the interactive, ad-hoc query engine in AWS Cost Explorer. Each request will be charged a fee of $0.01.
Pros:
- It delivers accurate data for cost analysis and visualization.
- It keeps track of data.
- It’s simple to use.
- Preconfigured views save time and money when it comes to data analysis.
- It is quite safe and dependable.
CONS :
- The cost explorer is a little complex at first, thus it would be great if it could be reached quickly.
- The filter UI might be enhanced. For example, if I select a tag, I should be able to select many values for it, but currently, it only applies one value. This, for example, could be improved.
AZURE cost management
Azure Cost Management is a multi-cloud cost management solution that helps you use and manage Azure and other cloud resources to their full potential. It allows you to keep track of cloud usage and costs for Azure resources as well as other cloud providers such as AWS and Google.
Once activated, Azure Cost Management keeps track of your resources and generates reports on a regular basis. You may use Azure Cost Management in conjunction with Azure Advisor to get cost recommendations based on your consumption. You may leverage REST APIs and interface with Microsoft Power BI to further tailor your expense management.
Features:
Costs in Azure should be monitored and optimized.
Azure Cost Management allows you to look back on previous cloud usage and charges as well as forecast future costs. You can look at costs on a daily, monthly, or annual basis to spot trends and anomalies, as well as optimize and save money. This information comes directly from Azure, so it reflects the exact units used in your Azure bill.
Costs in the Cloud are mapped to departments or initiatives.
Using the concept of cost entities, Azure Cost Management divides your resources into various buckets. A cost entity in your organization is a department or project that pays for Azure services. You may also design a cost model that organises resources based on tags assigned by teams to actual Azure resources.
Report on Cost Analysis
The Cost Analysis report in Azure Cost Management allows you to separate costs using Azure resource parameters and perform a detailed analysis of your organization’s costs.
Pricing:
For this product or service, Azure Cost Management and Billing have not given pricing information.
Pros:
1. Administrative tasks related to billing, such as paying your bill, should be accomplished.
2. Establish spending restrictions.
3. Analyze your costs using data in a timely manner.
4. The user interface is well-designed and simple to use.
5. Microsoft’s Azure assistance is always excellent
Cons:
1. In terms of customization, it may be better.
2. The setup is a bit difficult.
3. Be on the lookout for costs that aren’t necessary.
Optima
With visibility and control over multi-cloud charges, you can run your business more efficiently.
Your organisation can minimise shocks and waste by combining automated operations with budget controls and cost regulations. Cloud governance teams can collaborate with business units and cloud resource owners to report, manage, and optimize cloud spending thanks to powerful capability.
Identifying cost-cutting opportunities in the cloud is an important part of your cost-cutting journey. The Flexera One platform not only allows you to identify these cost savings but also gives you the tools to automate them, making cloud cost optimization a repeatable component of your cloud governance efforts.
Features:
- With complete visibility, you can cut or eliminate unnecessary cloud spending.
- Regain control over cloud costs throughout your entire enterprise.
- Using a centralized view of expenses, you can report cloud spending with confidence.
- Avoid being surprised by cloud spending invoices.
Pricing:
For this product or service, Flexera One has not given price information.
Pros:
- RightScale made it simple to construct server templates that would take a common base image and configure it after launch, reducing the number of server images we needed. It also makes it simple to issue remote commands to several servers at the same time.
- The Cloud Management Platform is extremely reliable and can handle a large number of installations. In my company, we’ve provided each developer (total: 1000+) cloud access so that their particular product may be installed on the cloud, and they can deploy, develop, and troubleshoot our proprietary application utilizing the Cloud Management platform.
- In terms of a marketplace presence, the Self-Service User Interface is straightforward. The Cloud Management portal is a useful intermediate level for platform-level and IT configuration and monitoring.
Cons:
- Most of the things I used to accomplish using CMP can now be done with a few clicks in the individual cloud. As a result, the CMP Cost to Value ratio has altered dramatically since we joined. What was previously considered a must-have feature has become a commodity.
- When there are problems with a high-priority deployment on which many users/teams rely, it’s difficult to communicate to stakeholders and numerous teams lose time during the retry.
Conclusion
Cloudability is a cloud cost management application aimed at assisting customers in gaining visibility into their spending, as well as managing and optimising it. They also assist businesses in visualising how their cost profile will change as a result of cloud migration. FinOps and financial teams will benefit the most from this tool.
Cloud cost management is critical for more than just cost reduction. Good cloud cost management, in particular, enables firms to plan for the future, avoid waste, and forecast both their expenses and resource requirements.
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