Tech Insights: Exploring the Latest Software Innovations 2

Most companies have migrated some or all of their digital applications and platforms to the cloud. Multiple environments are provisioned in different cloud regions. Every workload that runs in the cloud incurs a combination of compute, storage and networking costs. We all know that without proper control, expenses will most likely grow unexpectedly. This article describes six ways to control and optimize your cloud costs.

1. Set budgets and review costs

   After setting up a cloud account, the first thing is to create your budget with planned expenses. Budgets allow you to monitor spending overtime, forecast costs using historical data, and, most importantly, alert you when your expenses reach preconfigured limits. Budget setup is relatively straightforward, and the functionality is very similar between AWS and Azure.

2. Take advantage of discounts and savings plans

   Reserved instances (AWS) and Reserved Virtual Machine Instances are prepaid computing resources. They are particularly advantageous for predictable and stable workloads.To purchase reserved instances, you must provide information about the type of instances, their size and location (region and availability zone), and usage duration (one year or three years). The final price might also be affected by the payment type you select (paying in full upfront, partial payment upfront, or nothing upfront). By using reserved instances, you can save up to 75% of your costs compared to on-demand pay-as-you-go options.

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Please note that if you are a large premium client, then there’s a good chance the assessment service is already included in your cloud vendor contract at no additional costs. If you’d like to learn more about cloud cost control and optimization, other cloud-related topics or have any doubts about the best practices, get in touch with our team! You can also visit our Tech Insights page, where our team explores and shares expertise on various tech topics such as why it is Time to put MVP to rest, thoughts on Explaining DevOps to executives, and the 2 key metrics delivery managers should care about first.