Cloud Computing Outlook

Know more about Cloud Expense Management

By Cloud Computing Outlook | Sunday, September 06, 2020

Hybrid cloud structure becomes an added cost to the budget, which is sometimes completely unnecessary. This is where the cloud expense management software has its role to play


Fremont, CA: Perhaps the most significant benefit that cloud computing provides is – cost-efficiency. But sometimes even costs can go out of control if the cloud services are not effectively provisioned or properly managed. There are a number of enterprises that haven't yet migrated to the cloud entirely. The hybrid cloud structure becomes an added cost to the budget, which is sometimes completely unnecessary. This is where the cloud expense management software has its role to play.

The term 'cloud expense management' has been adopted by several parties, from those selling expense management software in the cloud to cloud cost management software, which focuses on SaaS, IaaS, or PaaS. Cloud services need to be optimized to report and allocate the cloud costs, and to reap the benefits of the cloud, these cost control actions must be automated. Hence, the cloud expense management needs to be integrated into the company's cloud management strategy from day one of its operations on the cloud. There won't be immediate response, but in the long run, companies will realize the optimization of costs.

Though cloud expense management should be the critical element of overall cloud management strategy, here are five key areas where the software can be used to reap the benefits.

Cost Optimization - The expense management software tracks the cost and restructures the cloud spend, besides aligning the capacity and performance to actual demand.

Inventory Management - The software discovers and maintains pre-existing brownfield cloud resources, monitors, and manages the required changes in inventory.

Data Migration, Recovery, and Backup - Data is an essential thing for businesses today. Expense Management Software enables data protection, disaster recovery, and data mobility via snapshots and data replication done in the software.

Synthesize, and Coordination of Workloads - The software can create, modify, and delete resources according to the need as well as synthesizes workflows and management of workloads.

Monitoring and logging: The expense management software collects performance and availability metrics as well as mechanizes the incident management and log aggregation.

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