Are you being asked to control cloud spending? The cloud was once seen as a haven from rising infrastructure costs, but managing the cost of cloud services is now a major concern.Cloud Expense Management (CEM) solutions can help, and ZK Research has this guidance for identifying market-leading solutions.
Cloud Growth = Expense Problems
Cloud services will grow to
$370 Billion
in five years
say it’s challenge to account for cloud spending and service usage
say cost savings is the biggest issue with existing cloud deployments
What is aCloud Expense Management Solution?
CEM is the key technology platform helping companies develop cloud governance, execute cloud cost optimization programs, and build out a FinOps framework. Think of it as the machine behind the FinOps curtain.
CEM Solutions:6 Must-Have Capabilities
Cost Optimization
Money and productivity savings for IaaS, SaaS, UCaaS and more
Expense Management
Financial administration for invoices, bill pay, and contracts
Analytics
AI-powered cost savings recommendations based on service usage data
Automation
Money and productivity savings for IaaS, SaaS, UCaaS and more
Integrations
Vast information gathering and solution customization options
Reporting
Real-time alerts, budget forecasting, and tracking capabilities
A well-implemented Cloud Expense Management solution can result in 20% to 40% savings and triple-digit ROI in the first year.
– Zeus Kerravala, Founder and Principal Analyst, ZK Research
Buyer’s Guide:
What to Look for in a Cloud Expense Management Solution