CloudSpend: Cloud cost management

With the rising popularity of a hybrid cloud strategy, businesses need to keep their spending in check. To provide high availability for its data, more organizations have started to adopt a multi-cloud strategy, and they have choices for cloud platforms. AWS and Azure accounted for the lion’s share of the market in 2022. With their expertise in providing IaaS, this has also often resulted in disparate deployments with respect to cost estimation and control.

What went great in 2022?

In 2022, with the release of cloud cost management support for Azure in CloudSpend, this new feature was readily embraced by many of our customers as it provides the ability to control costs at each department level for multiple cloud vendors, using appropriate Business Units. The ability to manage the customer accounts in their own currency utilizing our multi-currency support gave customers the ability to understand their spending in one, preferred currency even if their accounts reflected the use of different currencies used in multiple regions.

Leveraging the ability to integrate with Site24x7, we now provide access to more than 20 third-party integrations and almost 100 automation capabilities. Additionally, with the option to use the same Site24x7 role when integrating with CloudSpend, maintaining a single access point is achieved. And forecasting is possible with Cost Explorer and Budgets, providing you with in-depth views and controls of the entire cost ecosystem.

With these enhancements, we’re excited about 2023! Here is a list of six features we’ll release this year. Stay tuned for more!

1. Google Cloud Platform (GCP) Support: Following our successful launch of Azure CloudSpend in 2022, we are plan to expand our multi-cloud story moving forward with support for the GCP.

2. Anomaly Detection: At the top of our lists for 2023 is our plan to focus on detecting anomalies in an automated way. This is pivotal for holistically controlling costs.

3. Resource Inventory: We plan to offer a detailed view of resource utilization. You’ll be able to slice ‘n dice utilization levels in each category. Combining this with cost estimation gives you the power to right-size your resources.

4. Mobile Application: We are looking forward to releasing the first version of the mobile app for CloudSpend to make your cloud cost management even easier. The app enables you to check updates and stay current with the latest account details from any location, at any time.

5. Budgetary Trends: Though we are providing a platform to slice and dice all the data and configure budgets, we are planning to go one step higher and provide actionable trends with a multi-cloud focus.

6. Coverage Reports: Though there are various ways to optimize costs in each cloud ecosystem, we often don’t have the provisions to use them more efficiently. Most of the time, we tend to overspend on Savings Plans and it’s difficult to know if we’ve captured the true costs.The Coverage report helps customers understand their spending trends on each of their cloud eco-systems.

Developing from our customer’s perspectives

Beyond these six, we’ll focus in 2023 on integrating key CloudSpend features across our ManageEngine ecosystem and with the reporting tools preferred by our customers. As just one example, we plan to expand on our on-premises asset billing support. We’re providing this roadmap to help our customers understand how we’re dedicated to addressing their needs and requests, but the release of these enhancements is subject to change based on market trends.

Our vision and efforts, focused on providing you with the best possible product experience based on your feedback, remains steadfast. Visit ManageEngine CloudSpend to learn more about our cloud cost management tool and our other products. Here’s to a happy 2023.