The resources are scalable, but so is the cost.

Adopting cloud technologies can do wonders for a company: easy procurement of resources, rapidly scalable and flexible environments, safe and reliable yet innovative solutions, and much more. However, it also presents certain challenges.

The fact that resources can be procured quickly and en masse often leads to over-provisioning and high cloud costs. The complexity of the environment may make it difficult to navigate and pinpoint the exact root cause of cost increase. Moreover, even when certain culprits are identified, it might be challenging to draw a comprehensive strategy for spend management along with the necessary tools to tackle the identified issues.

This is where Managed Cloud Economics (MCE) steps in.

The essence of the service is to ensure optimal cloud usage with the largest value and minimum viable costs for business. In reality, this translates into the effort of utilising only the necessary resources without compromising the performance of the service.

This journey towards optimised consumption starts with refining the data. Ensuring the collection and display of the correct data with a high level of accuracy, integrity, and fidelity is of paramount importance. This allows us to ensure clear cost visibility: where, when, and what is spent for each application, service, or business unit (or even specific resource). This, in turn, leads to a proper cost allocation – with either showback or chargeback enabled in each case.

Often, having a clear view of the spending allocation may be sufficient to make decisions about its optimization from a business perspective. However, in many cases, it is not clear which components need to be optimised and how. That’s why we provide our insights and recommendations on trends and anomalies detected by our automation. This might be related to a variety of actions and resources: downsizing, right-sizing, clearing, and moving virtual machines, databases, storage accounts, disks, and many more. 

Once such recommendations are drawn, a customer may choose which ones are to be implemented. This puts clients in full control of their resources – even the costliest item may be perfectly serving business needs and, therefore, has  to stay that way. Such close communication and cooperation with the customer allow for the saved funds and no interruption or deterioration of their service.

Finally, the selected options for optimization are implemented by our automation. The change is recorded and monitored for further analysis with the ability to later review its efficiency and the impact it has on the cloud financial performance. 

And the cycle starts again.

In parallel, the effort to ensure cost avoidance is made. By educating the staff to use cloud resources responsibly, by implementing threshold policies, and by controlling procurement resources in the right way.

Key takeaways

Managed Cloud Economics encapsulates the essence of the FinOps practices, but it is not just a framework, or a list of advisory policies, not a simple tool to get the needed data, and not even a consultancy service. It is a combination of all the mentioned elements. With a multi-cloud approach at its core and focus on a close collaboration with each customer, MCE as a product is the ultimate solution to coherently and holistically manage the cost of your cloud computing. 

And being engineered by cloud professionals as an integral part of the Devoteam Insight, intuitive & decision centred cockpit, the Managed Cloud Economics offering assures to be easy to use and well-compatible with the other products that Devoteam Cloud Managed Services offers.

If you’re ready to unlock the true value of your company’s cloud environment, connect with our experts – tech natives for a consultation.