Tangoe: Technology Expense & Lifecycle Management
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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.
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More Money, More Problems

Cloud Spend is Increasing and So are Cost Overruns

+82% of businesses plan to increase cloud investments

of businesses plan to increase cloud investments

67% of CIOs are already spending more on cloud services than they budgeted

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

23% the average company exceeds their cloud budget​

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
80%

see cost savings as a core challenge with the cloud

70%

cloud overspending is commonplace

29%

of cloud resources
go to waste

Cost Management Challenges Erode Cloud Confidence

83%

of IT leaders are concerned about funding cloud innovation

70%

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

66%

cite tracing cloud spend of particular concern

40%

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

3
Top 3 benefits of FinOps
  1. Productivity savings
  2. Cost savings
  3. Reduce security risks
65%

use FinOps to improve service utilization and rightsize services

+30%

reduction in cloud costs after applying FinOps

Best Practices for Maximizing FinOps Payouts

53%

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

2X

Third-party software and services can double FinOps savings

3X

IaaS 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

Companies using Tangoe One Cloud are 62% more likely to report cloud ROI achievement versus just 41% of companies using other FinOps solutions.

Save up to 40% on your cloud costs with Tangoe One Cloud.

SEE HOW