4 Guaranteed Ways to Reduce Your Cloud Cost

Reduce Your Cloud Cost
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Remember the excitement when you decided migrate to the cloud.

Oh, am going to save lots of money you taught.

However, 14 months down the line you begin to feel that moving to the cloud was a bad decision.

If you asked 10 companies why they decided to migrate their in-house operations to the cloud, nine of these companies would put “cost savings” at the top of their list. However, that hope is all too often met with disappointment.

In 2017, AWS stated that about 35% of cloud spending is wastage, and back then, that was $6.4B of their revenue. AWS probably isn’t complaining about that, but engineering and company budgets are.

Cloud bills are increasing and companies want to bring them down.

In this post, we’re going to look at ways to significantly reduce your cloud cost.

Ways to reduce your cloud cost

1. Schedule your Work and Workloads

Most businesses don’t schedule their cloud resources. These increases cost as resources keep running even when not used.

To reduce your cloud cost, you should schedule resources to start and stop depending on workloads and work hours. If nobody is going to use the resources, there’s no reason to keep them active and pay for them.

2. Remove Unused Items

Like your laptop, it is easy to store things that are not needed. But when your laptop memory gets full, you delete stored information or files that are not needed.

The same applies to the cloud. Since you’re paying for capacity, you should make it a regular process to trim or deprecate your data as it becomes obsolete.

You should also check for idle instances, volumes, or containers that are no longer being used.

Note: Be careful if you do delete items as they may not be recoverable at a future date.

3. Use Cost Monitoring Tools

To successfully optimize your cloud cost, you need cost-monitoring tools to monitor spending.

Cloud service providers like AWS offer various free-cost monitoring tools. These tools help analyze your past spending — up to 13 months prior.

You can also set budgets. This notifies admins when spending exceeds a certain point. It can also automatically limit resources to reduce cloud costs.

In addition to the above options, third-party cost monitoring tools can help organizations make smart spending decisions. For example, Cloudplexo cloud management tool tracks spending across cloud resources and provides recommendations on where and how to cut cost. 

4. Restrict Access to your Cloud Environment

Most businesses routinely allow individuals to access the cloud to provision, deploy, monitor, and troubleshoot workloads. Such open access can be convenient, but it can also drive unexpected, unplanned, and, sometimes, unnecessary costs. This is because individuals can spin instances and forget to shut them down.

To reduce costs, organizations need to limit cloud access to users with experience in cloud deployment and architecture  

Here’s the truth

Cloud cost optimization does not have to be complicated and hard, but it does require a disciplined approach that establishes good rightsizing and continuously drive insights and action through analytics to lower your cloud bill. .

When it comes to cloud costs optimization, you need to make sure your cloud strategy includes regular monitoring, automating, scheduling, and re-sizing. And that’s where Cloudplexo excels

Cloudplexo cloud cost management software helps enterprises manage costs, optimize spend, and save money on cloud bills. Cloudplexo CCMP can help optimize your cloud environment, identify idle resources, and alert you of any vulnerabilities in your cloud environment.

To book a free demo, contact us on 09159504102 or email [email protected]

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Paschal Okafor is NaijaTechGuide Team Lead. The article 4 Guaranteed Ways to Reduce Your Cloud Cost was written by Cloudplexo. The article was last modified: August 22nd, 2022
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