Companies are fully embracing the cloud, but challenges in visibility, financial management, and cost governance can flip the script for business leaders pursuing the cloud for savings and operational efficiency. These cloud consequences are not lost on CIOs and CFOs choosing to grab the bull by the horns. Let’s take a look at how Tangoe’s FinOps tool and cloud spend management consultants can be used to optimize IaaS, SaaS, and UCaaS services across three business use cases.
Crazy Cloud Savings: Gaining Visibility into SaaS and IaaS to Curb Costs
When all is said and done, cost management is about saving money on cloud services. You can’t uncover the gems, however, if you don’t dig deep enough. Most companies need help investigating and defining their cloud costs, and Tangoe One Cloud is like the world’s strongest digital excavator. Our AI-powered FinOps solution has unparalleled cloud visibility thanks to our vast ecosystem of partners and global integrations, enabling the broadest data ingestion for the clearest perspective on software and infrastructure service usage and spending.
Here’s a look at how some of Tangoe’s clients are clearing the haze off their cloud expenditures.
One oilfield services company tapped into Tangoe’s cloud consultancy services to gain better control over their IaaS invoicing, billing, and cost allocation with deeper reporting and analysis to make better buying decisions. And that they did: they’re seeing $1.7M in quarterly cloud savings as a result.
A research firm similarly struggled with multi-cloud cost visibility, particularly when their three IaaS services started to become more expensive and resource intensive to manage. That’s when the firm replaced its third-party cloud optimization tool with Tangoe One Cloud, which acted as a single FinOps control center with deep visibility across their three IaaS services. Actionable insights began flooding in regarding new service accounts that needed to be monitored and managed, unused cloud resources, misallocated expenses, service tagging mistakes, and savings plan discounts and fees, helping them wring out every dollar of savings possible.
Tangoe’s own CIO, Mark Troller, put Tangoe One Cloud to use in our own environment with surprising results: the number of SaaS applications in use was triple what our IT team thought, and we were spending $2.5M more on SaaS than anticipated. “I was aware of our largest SaaS costs, but it was eye opening to see how and where all the smaller costs added up,” he explained. We’re now driving around $350,000 annually in SaaS cost savings that can be reinvested in innovation, and the savings continue as new contracts come up for renewal.
The Beauty of Recouped Hours: Streamlining Cloud Financial Management
Many companies are taking a Do-It-Yourself approach to FinOps models, but they soon learn they need a better way to increase cloud ROI. Managing and evaluating cloud financial information using manual methods can consume an egregious amount of time and takes away from cost optimization efforts. Luckily, Tangoe doesn’t just put money back in your pocket. We also put hours and days back on the clock for IT and finance teams.
Here’s a look at how the same clients mentioned above are also streamlining cloud financial management.
As soon as the research firm implemented Tangoe One Cloud, the platform began automating IaaS cost allocation to streamline multi-cloud expense chargebacks to each of their 500 departments based on individual usage. This used to take two IT financial analysts about 40 hours (5 days) of manual work each month. Today, it’s done in just minutes.
The oilfield services company also massively benefited from a productivity standpoint. Our AI automation and customized workflows plugged into their IT financial system to start immediately streamlining invoice collection, processing, and payment activities for more accurate cost allocation. At the same time, our unrivaled cloud visibility started churning out deep reporting and analysis on cloud computing resources across all their vendors in one centralized database so they could act smarter, faster to make better use of the services they purchase. Overall, their IT team regained an estimated 180 hours each year.
Tangoe’s cloud cost consulting services collaborated closely with the oilfield service company’s IT team to make sure they were firing on all cylinders when it came to executing on recommendations and optimizations. They continue to use our professional services for a competitive edge.
Tangoe also saved so much time using its own solution, our CIO was able to reduce through attrition one IT Financial Analyst position. The team was able to start acting on recommendations provided by Tangoe One Cloud to cut costs and get more value out of existing investments, as well as using automated implementation for the FinOps solution to act on its own recommendations with just the click of a button.
How much could you save with a centralized FinOps solution designed to jumpstart cloud cost optimization?
Find out with a proof of concept. Contact us today for a free FinOps solution demonstration.