ManageEngine, the enterprise IT management division of Zoho Corporation, announced the availability of CloudSpend, its cloud observability and cost optimization platform, for Microsoft Azure.
The business intelligence and smart forecasting capabilities of the solution, which are already available for AWS, have expanded to fill the gap between capacity planning and cost optimization for resources running in multi-cloud environments.
Recently, the adoption of public cloud has seen rapid growth, with expected spending on such services to reach $600 billion in 2023. Public cloud offerings can help businesses meet their goals as they are flexible and easy to use, and if equipped with proper security, compliance and scalability. However, users of cloud services often overestimate their usage and ask for more provisions than required which leads to unutilized resources.
CloudSpend targets the burgeoning costs of AWS and Azure adoption among public cloud providers.
According to ManageEngine’s State of IT Management Survey Report, 35% of the businesses have adopted a multi-cloud environment, of which 63% use both AWS and Azure.
Gibu Mathew, Vice President, Zoho Corporation said “The cloud was embraced with the primary notion of reducing capital expenditure, but it inadvertently is why organizations bleed cash systematically. In a cloud-native world where organizations rely on the public cloud for their digital transformation, observability and optimization are essential to streamline cloud operations and get the most of the money spent on cloud assets.”
Business units and chargebacks: With chargebacks, organizations can use native tags to make business units accountable and attribute tags to understand the costs of different projects, departments, teams or cloud customers.
Budgets and forecasts: Businesses can define budget limits for AWS and Azure accounts and receive notifications when spending exceeds the budget. CloudSpend can also give insightful forecasts based on historical data.
Resource Explorer with out-of-the-box visibility: CloudSpend has nine types of system-generated tags to slice and dice organizations’ AWS and Azure expenditures. Teams can schedule reports on different aspects, including linked accounts, service types, regions and user-defined tags.
Multi-currency support: CloudSpend also supports multiple currencies, letting finance and IT teams view costs in currencies from 25 different geographic locations for various transactions.
IT automation: The solution can rightsize cloud resources via IT automation and integrate seamlessly with multiple third-party providers to keep track of spending across vendors.
With these features and many more, CloudSpend provides financial planners, IT teams and cloud service providers with the key business intelligence they need to streamline their capital expenditure and scale their businesses without wasting resources.
Any size business in any industry can use ManageEngine CloudSpend. Up to $3,000 of an organization’s monthly AWS and Azure expenses can be tracked without charge. The starting price for the paid edition is 0.8% of a company’s monthly AWS and Azure expenses between $3,000 and $100,000 and 0.5% of those expenses over $100,000.
