Cloud adoption has been on an upward trajectory for over a decade with no signs of slowing down. As widescale migration becomes the norm, organizations are realizing cloud financial management — also referred to as FinOps — is critical to creating long term value in the cloud. Building a culture of financial discipline requires visibility and a strategy for measuring success along the way.
Achieving cost savings is one of the main drivers for cloud adoption. But for most companies, controlling cloud spend is much more challenging than anticipated. In a recent survey, 94% of IT decision makers report they are overspending in the cloud. Our own survey on cloud costs revealed 90% of executives say better cloud cost management and cost reduction is a top priority.
Cloud services are the number one source of unexpected overspending for companies today. As a result, cloud financial management is a major focus for most organizations. But how do you track the success of cloud efficiency? Full allocation of multicloud costs is a critical component for understanding your actual cloud services usage, establishing cloud cost management ownership, and creating accurate budgets and forecasts at the line of business, project, application and even team levels.
Cloud migration efforts continue to grow today as organizations move into a post-pandemic work environment. According to McKinsey & Company, by 2024, most enterprises aspire to have $8 out of every $10 for IT hosting go toward the cloud. In a survey by Morgan Stanley, CIOs say cloud computing will see the highest rate of IT spending growth in 2022.
In today’s payments ecosystem, the ability to monitor and use payment data effectively represents a real and essential competitive advantage. Intelligent operations should be a strategic goal for the entire company, and when executed properly, will enable you to build a future-proof payment operations infrastructure.
As businesses shift to a digital-first environment, cloud computing will play a dominant role in delivering greater flexibility and faster innovation. In a recent report by Deloitte, nearly 90% of US-based senior decision makers proclaim cloud to be the cornerstone of their digital strategy. Covid accelerated cloud migration initiatives, with no signs of slowing down. Gartner forecasts worldwide end-user spend on public cloud services will grow by 20.4% in 2022 to a total of $494.7 billion.
We are excited to share that Anodot’s Cloud Cost Management solution has been named a Challenger and Fast Mover in the 2022 GigaOm Radar for Evaluating Financial Operations (FinOps) Tools report.
Cloud spend is a significant line item in every company’s IT budget, and controlling it is especially important in today’s challenging economic climate. A steep decline in share prices, valuations, and a slowdown in venture capital funding have led CEOs to cut costs within their large line items, reduce their workforce, and reevaluate their unit economics — especially their margin per customer. The question is, how many organizations know their margin per customer?
We are excited to share that Anodot’s Cloud Cost Management solution has been named a Challenger and Fast Mover in the 2022 GigaOm Radar for Evaluating Financial Operations (FinOps) Tools report.
More enterprises are adopting cloud computing to ensure that they can accelerate innovation, stay competitive, and enjoy cost savings. This trend has only increased in the last two years with the rise of remote work necessitated by the COVID-19 pandemic. With the rise of cloud adoption, multi-cloud and hybrid cloud deployments are increasing in popularity as well. According to a Gartner survey, 81% of survey respondents are using two or more cloud providers.
