Sky Rocketing Cloud Costs? Here are 5 Ways to Cut Costs
With the emergence of cloud computing, many companies are embracing cloud computing to cut the unwanted costs due to the legacy IT infrastructure. However, many companies are shelling out more than extra when it comes to their investments in cloud computing. According to a new survey by RightScale in cloud expenditure, at least 35% of enterprises spend whopping amounts on cloud deployments. Be it towards multi-cloud or hybrid cloud, cloud spending is sky rocketing, and we observed from our general interactions during CIO meetings that every enterprise wants to reduce these additional costs. In fact, the survey reveals that the annual wastage amount on AWS mounts to $6.4Bn while it crossed 10 billion figures for other service providers. Read on as we unearth the meritorious ways to reduce your cloud expenditure.
Compare CSP’s: According to the RightScale survey, nearly 13% of enterprises are ending up spending extra by choosing the expensive cloud services. It is always advisable to compare various cloud services in terms of their offerings and as well as their subscription cost. There are many third-party cloud service providers, who deploy the customized cloud solutions. In fact, it is ideal to check if such third-party providers are partners of AWS/ IBM/ Azure or any other cloud that you choose to deploy.
Optimizing Your Cloud Instance: The merit of the cloud computing is that—you can scale up or down depending on your requirement. Experts opined that many companies fail to realize this and subscribe for more cloud instance than required. RightScale revealed that nearly 40% of instances are bigger than the actual workforce.
Turn off Virtual Machines: If you are a person who would insist on turning off the lights for saving electricity, you cannot ignore the same principle when it comes to your virtual machines. At least 67% of companies were reported to have to spend additional cloud expenditure as they continued to keep their Virtual Machines on even after the business hours.
Negotiate Discounts: It is advisable to keep an eye out for discounts, negotiate with the service providers, and ensure that you subscribe for annual plans. When you go for one year or two-year plans, the cost would be low and that you can further ask for discounts. The shock will be in store for you if you subscribe to monthly post-paid plans as you might get a bill amount that you never imagined. The survey suggests that going for annual plans would help you save at least 70% of your cloud budget.
Delete Unused Files: Junk files and unused stored data when left undeleted will run on the virtual machines that consume cost you dearer as you would be charged on two aspects;
(i) data storage account costs
(ii) data storage transaction charges
The more the data, higher the costs. There are several tools available in the market that will help you delete the unused data.
Conclusion: Cloud adoption soared to 57% this year and the figure is likely to grow further. In fact, 73% enterprises are embracing the cloud, and 80% of IT budgets are allocated towards cloud computing if we believe what ‘The State of Cloud Adoption and Security’ enumerated. While reducing cost is one of the reasons behind the digital transformation, the sole purpose will go in vain in case cloud computing hurts your pockets. If you are concerned about reducing extra amount forked out towards the cloud, please feel free to get in touch with Techwave at firstname.lastname@example.org. We have every solution to make the digital transformation seamless and cost-effective.