Cloud cost tools can save companies thousands by identifying waste and optimizing spending. With cloud computing projected to reach $832 billion by 2025, managing costs is critical. Here’s what you need to know:
- 35% of cloud spending is wasted, often due to unused resources or poor configuration.
- Tools like AWS Cost Explorer, Azure Cost Management, and Google Cloud Cost Management help track expenses, set budgets, and optimize resources.
- Companies have saved 15-40% on cloud bills by using these tools effectively.
Want a quick win? Start with tools that fit your setup (e.g., AWS for single-provider users or Apptio Cloudability for multi-cloud). For expert help, Managed Service Providers like InfraZen can step in to optimize costs further.
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Features to Look for in Cloud Cost Tools
Smart cloud cost tools can help you cut spending and run your cloud operations more efficiently. Here’s what to look for:
Detailed Cost Reports and Dashboards
You need clear visibility into where your cloud money goes. Tools like AWS Cost Explorer and Azure Cost Management + Billing show you exactly what you’re spending on each service and region.
Here’s a real example: A fintech company checked their AWS Cost Explorer and found they were wasting 20% of their monthly bill on unused storage in Asia-Pacific. One simple fix – moving those resources around – saved them $15,000 a year.
But just seeing your costs isn’t enough. You need ways to stop overspending before it happens.
Setting Budgets and Alerts
Modern tools let you set spending limits and get warnings when you’re close to hitting them. Take this retail company’s smart move: They used AWS Budgets during Black Friday, setting a $100,000 limit and alerts at 80%. When they got close to the limit, they could quickly adjust their setup to avoid extra charges.
These tools can even take action on their own – like moving workloads to cheaper options when spending gets too high. No need to watch the dashboard 24/7.
Optimizing Resources and Costs
The best tools help you get more bang for your cloud buck through smart resource management. VMware Tanzu CloudHealth helped one healthcare company cut their cloud costs by 25% in just three months by finding and fixing waste.
AI is making this even better. One manufacturing company let their tool automatically scale resources up and down based on actual usage. Result? They cut costs by 40% without any drop in performance.
Now that you know what features matter, let’s look at the top tools that offer them.
Popular Cloud Cost Management Tools
Let’s look at the top cloud cost management tools that can help you cut expenses and boost efficiency.
AWS Cost Explorer
AWS Cost Explorer helps you track spending and find ways to save money through its analysis tools and suggestions.
Here’s what makes it stand out:
- Custom reports that break down costs by service, region, or tag
- Smart suggestions for reserved instances
- API support to pull data automatically
One SaaS company cut their monthly cloud costs by 18% – that’s $50,000 saved per year – just by following AWS Cost Explorer’s advice on reserved instances.
Azure Cost Management + Billing
Azure’s tool shines when you’re juggling multiple clouds or hybrid setups. It helps you keep tabs on all your costs in one place.
The tool offers:
- Instant alerts when you’re about to blow your budget
- Cost tracking across hybrid clouds
- Detailed spending analysis for each resource
Here’s a real win: A big retail chain saved $25,000 during their busiest season by setting up Azure’s budget alerts across their hybrid setup.
Google Cloud Cost Management
Google’s solution mixes smart analysis with automatic cost controls.
Key perks include:
- Auto-detection of weird spending patterns
- Deep cost analysis using BigQuery
- Clear monthly cost breakdowns
One media company spotted and fixed some wrongly set up storage buckets – saving $10,000 in just three months.
Apptio Cloudability
Cloudability focuses on managing money across multiple clouds and predicting future costs.
The platform helps you:
- Split costs by team and project
- Predict future spending
- Get tips on saving money
A healthcare organization got better at budgeting by connecting Cloudability to their project tools, cutting cloud costs by 15% in half a year.
VMware Tanzu CloudHealth
CloudHealth lets you manage costs across different cloud providers while keeping tight control over spending.
It stands out with:
- Clear view of costs across all clouds
- Rules to control spending
- Tips to use resources better
A financial company cut costs by 22% by using CloudHealth’s resource tips across their cloud setup.
Need help picking the right tool? Companies like InfraZen can guide you through choosing and setting up these tools. They know how to match tech with your needs and help you get the most bang for your buck while keeping everything running smoothly.
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How to Pick the Right Cloud Cost Tool
Picking a cloud cost tool can make or break your cloud expense management. Let’s look at how to choose one that fits your needs and budget.
Understand Your Business Needs
Before diving into different tools, take a close look at what your organization actually needs. Here’s what to consider:
First, check your cloud setup. Are you running everything on AWS, or spread across multiple providers? This will narrow down your options fast.
Next, think about what features you really need. Some tools shine in specific areas:
- Apptio Cloudability works great if you need to track spending by team or project across different cloud platforms
- Azure Cost Management + Billing fits perfectly if you’re mixing cloud and on-premise systems
- AWS Cost Explorer and Google Cloud Cost Management help you spot unusual spending patterns and break down costs in detail
Check Features and Compatibility
After you know what you need, it’s time to look at how different tools stack up. Pay attention to:
- How well they work with multiple cloud providers
- Whether they play nice with your current tech stack
- If they can grow as your cloud usage expands
- How much you can customize them to match your workflow
Here’s a real example: CloudZero connects directly to your development pipeline, so engineers can watch costs as they deploy new features. That’s pretty handy if you’re trying to keep spending in check during development.
One success story: A media company used Apptio Cloudability with their project tools and cut cloud costs by 15% in just six months. They found resources they weren’t using and put them to better use.
Consider Managed Services Providers
Sometimes it makes sense to bring in the experts. Take InfraZen for example – they’re pros at matching tech solutions to business goals.
"Our goal is to help businesses not only save on cloud costs but also align their IT strategies with long-term growth objectives."
Working with an MSP like InfraZen can give you access to smart tools and expert advice. They use AI to spot waste and prevent surprise bills. One UK manufacturing company teamed up with InfraZen and trimmed their cloud bill by 20% within a year.
The key is finding the right mix of tools and expertise that works for your specific situation. Whether you go with a standalone tool or partner with an MSP, make sure your choice helps you track, manage, and optimize your cloud spending effectively.
Final Thoughts on Cloud Cost Management
Cloud cost management helps you control spending, avoid waste, and keep your business competitive. Let’s look at what you need to know and do next.
Tools like AWS Cost Explorer and Apptio Cloudability give you everything you need to track costs effectively:
- Detailed spending reports
- Budget tracking systems
- Resource optimization features
Working with Managed Service Providers (MSPs) like InfraZen can make a big difference. They know how to match your IT needs with business goals, which often leads to major cost savings.
Here’s your action plan to get cloud costs under control:
- Review Your Setup Check your current cloud infrastructure carefully. Look for waste – like servers running when they’re not needed or storage you’re paying for but not using.
- Try Different Tools Start with Azure Cost Management + Billing if you’re running hybrid systems, or Google Cloud Cost Management if you want detailed cost breakdowns. Pick tools that match what your business needs. For instance, one media company used Apptio Cloudability and cut their cloud costs by 15% in just six months by better using their resources.
- Get Expert Help Team up with MSPs like InfraZen. They bring specialized tools and know-how to the table. They’ll help you:
- Set up automatic budget alerts
- Stop surprise costs before they happen
- Use AI to optimize your resource usage
FAQs
How do I track cloud cost?
Want to keep tabs on your cloud spending? Amazon CloudWatch brings all your AWS metrics and logs from services like EC2 and S3 into one easy-to-read dashboard. If you’re using multiple cloud providers, you’ve got options: Azure Cost Management + Billing works great with hybrid setups, while Google Cloud Cost Management breaks down costs by project or team to help with budgeting.
But here’s the thing: tracking tools are just the start. Cloud cost management tools take it up a notch by helping you cut costs and put spending controls on autopilot.
What is a cloud cost management tool?
Think of cloud cost management tools as your spending watchdog. These tools do more than just show you numbers – they help you spot where your money’s going and how to spend it smarter.
Take Apptio Cloudability and VMware Tanzu CloudHealth, for example. These tools tell you things like:
- When you’re paying for more cloud power than you need
- What your future bills might look like
- How to set up rules to stop overspending
For companies juggling lots of cloud resources, these tools are game-changers. They’re getting smarter too – many now use AI to make decisions on their own, like scaling down servers that aren’t being used or moving resources where they’re needed most. As your cloud use grows, having this kind of automatic oversight becomes super helpful for keeping costs in check without creating extra work.
