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The State of Multi-Cloud Cost Management

The public cloud was quantified as an economical alternative to the inconveniences of setting up and running on-premises data centers. But that was only until the global business landscape faced an unexpected downturn in 2020, injecting a new layer of complexity. The notion of relying completely on a single cloud service provider (CSP) faded away with businesses quickly shifting to multiple cloud platforms to suit their unique requirements.

As the dust settled, a new challenge awaited. Businesses started grappling with a lack of detailed insights into their cloud expenses and how they correlated with their business applications. The potential for cost-saving opportunities remained obscured. The quest for optimization in the cloud environment became a terrifying task, hindered by the absence of profound visibility into the ‘whens’, ‘hows’, ‘whats’, and ‘whys’ of resource utilization.

Fast forwarding to the present day – it’s now a dynamic business landscape with visibility and actionable insights-led financial adaptability and comprehensive understanding being the keys to unleashing the true potential of the cloud.

5 Critical FinOps Visibility Options Every Finance Team Needs

The timeline we just showcased may not be entirely accurate, but what we are trying to get at is – when finance stands out, it reflects the overall efficient functioning of a cloud-driven organization. It also applies to cloud success, except it adds a thousand new infrastructure and financial decisions for the team. This is further entailed by multiplying real-time adjustments – inherently unheeded by the CSPs. Time to dive into how a finance team can navigate all of it.

1. Historical Visibility

Firstly, the finance team would need access to ‘historical visibility’ to gain a comprehensive and in-depth view of the organization’s past financial data related to cloud usage and spending. This will allow them to analyze historical trends, identify cost patterns, and understand the factors that have influenced their cloud expenses over time.

With this wealth of information at their fingertips, finance teams can make data-driven decisions to optimize their cloud environment, uncover opportunities for cost savings, fine-tune resource allocation, and align cloud spending with business objectives.

And this is exactly what Heeddata’s ‘Cost Explorer’ does to empower finance teams. Equipping them with the visibility since tenancy creation, it affords organizations optimal efficiency and financial control in cloud operations, leading to better resource utilization, and ultimately driving greater value.

2. Multi-Cloud Cost Visibility

Finance teams need to fetch a comprehensive view of their organization’s cloud expenses across multiple cloud platforms. But that is still the ordinary way of looking at it. Heeddata completely changes the game by allowing teams to analyze cost trends, identify spending patterns, and grasp how different cloud providers contribute to their net expenses. With this competency at organizations’ disposal, they can make data-driven decisions to seamlessly rationalize their multi-cloud strategy.

With Heeddata’s multi-cloud cost visibility delivered to finance teams via a single-pane-of-glass, they can uncover potential cost-saving opportunities, align cloud spending with business objectives, and ensure cost-efficiency across all cloud environments.

3. Visibility on Current and Previous Period Costs

We are talking about rationalizing the whole process of leveraging the cloud – making it necessary to have tabs on the costs across periods at all times. Heeddata has that perspective embedded in itself. In other words, it requires zero number of clicks to access visibility on the current and previous period costs.

4. User-Friendly Maneuvering by Perspectives

There are literally endless narratives on accountability when it comes to FinOps-ing a cloud. But hardly any FinOps solution in the market equips finance teams with the convenience of sorting the usage, expense, and insights by service, region, type, pool, and owner with a single click. This ease is also maintained for navigating up to any of the features within Heeddata.

5. Drilling Down to Granular Resource Level, Trends, and More

Heeddata’s vision of making tailored cloud cost management experiences takes into account every single facet of an organization’s cloud usage. By providing a comprehensive daily report of added and removed resources, it empowers users to track cloud spending patterns effortlessly. Bid adieu to manual tracking and welcome AI-powered real-time insights, as this game-changing feature called ‘Cost Explorer’ ensures optimal resource allocation and cost efficiencies, driving financial success in the dynamic world of the multi-cloud.

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