As cloud computing has become mainstream, gaining visibility into cloud costs and controlling them has become a perennial issue for enterprises. And the cost management tools offered by the cloud providers don’t get the job done.
Cloud costs continue to grow, and the amount of wasteful spending remains high, according to the Flexera 2022 State of the Cloud Report survey released in March. For the sixth straight year, optimizing their existing cloud use to realize cost savings — sometimes known as FinOps — was the No. 1 cloud priority this year for enterprise technical and business professionals. Better financial reporting on cloud costs also was a top initiative.