Managing the public cloud is, to some degree, becoming part of an ITAM Manager’s remit. In this new cloud management tips white paper written for USU, we look at ten proven techniques to revolutionize your cloud spend.
By utilising these cloud management tips you will not only achieve cloud management excellence, but help your ITAM practice by demonstrating how ITAM can support both FinOps and Cloud Centre of Excellence (CCoE) teams, as well as the broader business.
As the adoption of public cloud continues to accelerate, many organizations are finding it increasingly challenging to manage the costs associated with their cloud infrastructure. While the cloud offers unparalleled flexibility and scalability, it can also result in unexpected and rapidly escalating expenses if not managed properly. In fact, according to recent studies, cloud waste is estimated to cost organizations billions of dollars per year.
Public cloud spend continues to grow at a significant rate, with 2023 expected to see an annual increase of 22% to $597 billion. This will then barely slow down as 2024 is predicted to reach $725 billion, a 48% increase in just 3 years. Effective cloud cost management is critical for organizations to optimize their cloud investments and avoid unnecessary expenditures. However, it’s not just a matter of tracking cloud usage and expenses. ITAM also plays a crucial role in public cloud cost management by enabling organizations to better understand and manage their cloud resources. Adapting to a new cloud and hybrid world is key for ITAM as an industry too. It offers fantastic opportunities to show your organization how integral ITAM is to the future growth and success of the business.
In this guide, we look at importance of public cloud cost management in the context of ITAM and introduce strategies and practical recommendations for optimizing cloud costs. As we look ahead through 2023 to 2024 and beyond, it’s clear that public cloud cost management will continue to be a critical topic for organizations seeking to optimize their cloud investments and drive business value.
Follow the link below to access the full 10 tips for better cloud management.