Cloud Cost Management Software

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Videos for Cloud Cost Management Software

Cloud Adoption Essentials: Cloud Cost Fundamentals
A Senior Community Training Architect examines the economic aspects involved in migrating to the cloud. They explain total cost of ownership (TCO) and the difference between capital expenses (CapEx) and operational expenses (OpEx). They also explore the distinction between cos...
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Learn More About Cloud Cost Management Software

What is Cloud Cost Management Software?

Cloud cost management software increases an organization's insight and management capabilities over cloud resource usage, and budgets allocated to cloud services. As IT and cloud service infrastructures become more complex, governance and optimization of spending become more difficult. Cloud cost management software is dedicated to solving this problem by providing clarity into costs and resource usage so those in charge of a company's finances can make informed decisions.

Cloud cost management software often overlaps with cloud management systems, which facilitate cloud infrastructure’s management and operations. Systems that include both capabilities can enable organizations to automate some cost optimization processes.

As cloud infrastructures grow, businesses need to pull in data from multiple different sources and analyze their entire infrastructure. Cloud cost management software can provide a central console for viewing the ongoing spending on cloud infrastructure, as well as how efficiently the purchased infrastructure is being used. The more cloud products a business uses, the more they can benefit from the cohesion a cloud cost management platform can bring.

Cloud cost management software can save organizations money in a few different ways. The primary method is by identifying and mitigating over-resourcing or inefficient resource usage. This includes costs like over-provisioning, giving instances or applications unnecessary capacity, or continuing to pay for unused or legacy licenses or instances. These platforms can also save organizations time managing all these resources, especially when the business uses multiple cloud environments.

Cloud Cost Management Features & Capabilities

Cloud cost management software includes a variety of features to help businesses analyze cloud platform costs and resource usage. Some of the most common features included in these platforms are listed below.
  • Cloud resource usage reporting
  • Data visualizations
  • Data import/export
  • Data storage
  • Spending and cost reporting
  • Cost reduction optimization
  • Dashboard creation

Cloud Cost Management Software Comparison

There are several common factors to consider when comparing cloud cost management solutions:

  1. Automated cost optimizations: Visibility into cloud resource usage and spending will only get the business so far. Administrators must then make adjustments to the cloud environment to actually save on costs. Fortunately, some cost management solutions have extended beyond tracking spend to automating cost optimization processes. Consider how much value the business would receive from automating those processes before considering it a “must-have” feature.

  2. Multi-cloud support: Some cloud cost management providers specialize in particular cloud environments, such as AWS or Azure. If the business only uses one cloud environment, a tailored solution may be more effective and cost efficient. However, if the business uses multiple cloud instances, particularly across vendors, buyers should heavily prioritize a vendor that can deliver robust multi-cloud support and visibility.

  3. Data visualization: Cloud cost management software will vary in the quality, customization, and ease of reporting and data visualization. Buyers should consider how much reporting to non-IT specialists will be necessary, and how impactful more robust data visualizations will be when communicating to budget holders and other financial stakeholders.

Start a cloud cost management software comparison

Pricing Information

Pricing for cloud cost management platforms depends on the size and complexity of the organizations cloud infrastructure, as well as the feature needs of the business. Most vendors require businesses to reach out for a quote, but offer a limited trial that businesses can use to test out the platform before making a purchasing decision.

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Frequently Asked Questions

What’s the difference between cloud cost management and cloud management platforms?

Cloud cost management focuses on providing visibility into how a business spends on cloud infrastructure, while cloud management focuses on administering those cloud environments directly.

Who uses cloud cost management software?

Cloud cost management software is directly used by the cloud environment administrators, usually IT personnel.

What are the benefits of cloud cost management software?

Cloud cost management software helps save money by trimming unnecessary or inefficient cloud resource usage, and saves time when performing this process across multiple cloud environments.

What kinds of cloud cost management software are there?

There are cloud cost management tools that are either tailored to specific cloud environments, like AWS or Azure, while others are designed to be functional across multiple cloud environments, even simultaneously.