CALMING THE CHAOS OF CLOUD COSTS:
20 STATS YOU NEED TO KNOW

Remember how moving to the cloud was supposed to save you time and money? You’d gain scalability and agility and recoup precious dollars for funding digital innovation. Then reality hit. Nearly 70% of executives admit their cloud investments have not lowered the total cost of ownership of their IT systems. Sprawling cloud innovation triggers uncontrolled expenses. Here’s a look at the cloud cost chaos and how to effectively relieve it.

More Money, More Problems

Cloud Spend is Increasing and So are Cost Overruns

of businesses plan to increase cloud investments

of CIOs are already spending more on cloud services than they budgeted

the average company exceeds their cloud budget

The Cloud is Becoming Financially Unsustainable

2 large cloud providers
have admitted client invoices spin out of control

see cost savings as a core challenge with the cloud

cloud overspending is commonplace

of cloud resources
go to waste

Cost Management Challenges Erode Cloud Confidence

of IT leaders are concerned about funding cloud innovation

say it’s challenging to account for cloud spending and usage

cite tracing cloud spend of particular concern

cite cost control as an obstacle to their use of cloud

AS CLOUD COSTS SPIRAL, ENTERPRISES TURN TO A STRATEGY CALLED FINOPS

The cloud is a new consumption model that calls for a new approach to financial oversight – specifically, FinOps. FinOps has become the go-to strategy for solving cloud cost management problems because it applies standard methodologies to optimize IaaS, SaaS, and UCaaS services and expenses.

FinOps Models Calm the Cloud Cost Chaos

Top 3 benefits of FinOps

Productivity savings
Cost savings
Reduce security risks

use FinOps to improve service utilization and rightsize services

reduction in cloud costs after applying FinOps

Best Practices for Maximizing FinOps Payouts

FinOps programs that use AI are 53% more likely to save > 20%

Third-party software and services can double FinOps savings

IaaS savings average < 10% while SaaS savings average > 20%

4 Ways Tangoe Supercharges
Your FinOps Program

The Widest Cloud Visibility:

Insights gleaned from an ecosystem of integrations

The Broadest Choice and Flexibility:

Software and services for cloud cost management

The Smartest FinOps Platform:

Patented AI and hyper-automation

Savings that Go Beyond the Cloud:

Optimize mobile and telecom technologies too