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.

As a member of the FinOps organization, Anodot is excited to sponsor the upcoming FinOps X event in Austin, TX. Anodot’s mission has always been to help organizations solve one of the most recognized challenges associated with public cloud adoption — cost control and optimization. Every feature of our Anodot cloud cost management platform has been built by taking a core FinOps market concern and working backward to deliver a capability that fills that need.

Most companies today have a “cloud first” computing strategy. According to Foundry’s April 2022 report outlining their 2022 Cloud Computing research, 92% of businesses globally have moved to the cloud. What’s more, the percentage of companies with most or all of their IT infrastructure in the cloud is expected to leap from 41% today to 63% in the next 18 months. As companies move more workloads onto various cloud platforms, cloud budgets continue to increase.