Top Tools for Streamlining Cloud Cost Management and Maximizing Savings.


Cloud Cost Management is the service provided by different cloud organizations, such as Microsoft and Amazon, etc., to maximize cost optimization and provide flexibility to cloud service users. It is essential to have such a Cloud cost management service to avoid using any underutilized resources and increase the overall work efficiency of an organization.

How Does Any Cloud Cost Management Tool Work?

The top cloud management tools give their clients their best cloud usage metric. It has all the information about how a small amount of cloud services are used online, when, where and how the service is being used. According to this data, powerful AI models calculate new predictions and tell the users how to use the service in future to increase efficiency. This includes forecasting and resource allocation methodology so that any of the cloud tasks can be divided among different resources and employee teams. There are a lot of tools for this, and they all work differently, but their main aim is to monitor and optimize cloud cost management solutions.

Top Tools for Streamlining Cloud Cost Management

This list includes a variety of cloud cost-allocating solutions that work differently and also suit best according to the organization using them. Here are the top tools for streamlining cloud cost management.

AWS Cost Explorer

AWS cost explorer is one of the most popular free cloud cost management tools provided by AWS (Amazon Web Services). It has a catchy dashboard interface, providing different solutions to cost management. All the cloud resources and their level of working can be seen in the workflow area. This provides customizable reports, cost-saving recommendations, AI-based forecasting and budget options for the future, and past report analysis and resource utilization reports to achieve the best-optimized cloud service usage.

Azure Cost Management and Billing

A popular free cloud cost management solution provided by Microsoft Azure, Azure Cost Management and billing, is helping many organizations by increasing resource efficiency. It provides cloud solutions to deal with time-consuming resources and ways to achieve the most optimized path. The flowchart helps to get an idea of how to deal with things in the future and cost-saving recommendations.

Google Cloud Billing

Provided by google, this amazing cloud cost management tool helps organizations monitor their google cloud costs, time usage, and resources feeding up cloud services and providing reports, charts and graphs for analysis, real-time alerts, recommendations and budget options to maximize savings.

Cloudability

Cloudability is a good cloud cost management platform that uses the billing data and logs record pattern to handle multiple cloud resources and service providers to bring them into a single dashboard. It organizes and tracks cloud cost utilization and budget-friendly deals available in the market. It also provides real-time alerts to notify organizations and respond according to the budget levels before taking any other cloud service online. The pricing starts from $650/month for up to $100k monthly spent.

CloudHealth by VMware

In this cloud cost management platform, any organization can look to a unified view of their profile and the usage of their cloud environment service across multiple levels. This algorithm works differently than other cloud cost management platforms as it provides the overall health structure of the enterprise. Moreover, cost allocation reports, organizational tools, profile-building scores, budgeting tools, forecasting tools, customizable dashboards, and path-tracking services are included. The price may vary with a yearly rate of $1500.

ParkMyCloud

This platform is famous for maximizing cost savings and increasing the efficiency of the cloud workflow of any organization using it. This can generate automated cloud bills, schedule processes, halt non-productive cloud resources, suspend time, delay cloud services and overall increase optimization of resources, saving cost. The price per resource under management starts at 3/month.

Appito

Starting from 50/month, this tool provides cost-saving options and a real-time window view of resource allocation by the organization. This has detailed reports, market value and forecasting, automated bills and reduced wasted spending on unnecessary resources.

Turbonomic

Turbonomic is another good platform providing automated cost optimization features to increase the efficiency of cloud services usage. Detailed reports, charts, budgeting tools, recommendations, and resource allocation can be seen on this tool, starting from $595/year.

Cloudyn

A good recommendation brings the Cloudyn platform for cost allocation, which helps to reduce the wastage of cloud resources and replace them with efficient services. It is a time-saving and cost-saving solution for any cloud organization. The price can hike up to $5000/year based on the usage and because of its extraordinary feature of recommending reasonable solutions for cloud optimization.

RightScale

This is also one of the top tools for cloud cost management, starting from $1000/year, and its price is based on usage. Detailed reports and cloud usage optimization techniques can be achieved through this tool.

How to Choose the Right Cloud Cost Management Tool?

Any organization can choose the best cloud cost management tool by considering a few factors. First is the organization's requirements and how to allocate resources. Then comes the budget, whichever is suitable within the affordable range, and what is the tool’s scalability and sustainability in the current and future market.

It also depends upon what cloud services are currently being used in the organization. Like the enterprise will use AWS cost explorer if they are using AWS, and Google cloud users use the Google Cloud Billing tool for cost management because their interfaces are connected. Reviews come with experience; hence, it would be beneficial to gain some information about the tool used in other organizations and to see the quality of work it gave them.

Conclusion

Choosing the right cloud cost management tools and platforms is always a good option because they will bring savings and efficiency to the organization. Without investing in different cloud cost management, it is difficult to handle all exceptions, and the hidden loss will be far greater than the savings generated by following optimization techniques.

Updated on: 13-Mar-2023

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