Finout Launches AI-Powered Cost Optimizer for AWS

By Stefania Viscusi  |  July 03, 2023

Finout, a FinOps platform, announced an AI-driven Finout Cost Optimizer. The tool can help companies reduce their AWS expenses by up to 60 percent, providing significant cost savings during a time when businesses are focused on budget constraints. With the ability to scale efficiently while maintaining a cost-effective cloud environment,. Finout's solution empowers teams to optimize their AWS spending and minimize waste effectively.

The Finout Cost Optimizer utilizes machine learning algorithms to analyze customer usage patterns and determine the ideal Reserved Instance capacity needed to meet specific targets. It continuously optimizes by buying and selling reserved capacity in the AWS marketplace to match changing demand. This process helps users achieve optimal coverage with minimal risk and reduce their AWS cloud spending

Finout's cost optimization solution is unique as it doesn't charge customers for the savings achieved. Unlike competitors, who take a percentage fee, Finout ensures that all cloud bill savings remain with the customer.

Other key features of Finout's end-to-end FinOps platform include:

  • MegaBill: Consolidates multiple cloud providers and third-party SaaS (News - Alert) services into a single dashboard, providing centralized visibility and control over costs.
  • Cost Governance: Agentless cost governance suite detects and manages cloud waste, forecasts spending, alerts on anomalies, and ensures budget compliance during scaling.
  • Cost Allocation: Instant Virtual Tagging solution on top of MegaBill allows costs to be categorized by individual spend, team spend, or application spend, facilitating budget understanding and allocation.
  • Cost Optimization: AI-powered Cost Optimization for AWS automatically reduces companies' AWS bills by up to 60%. Support for other major cloud and third party services like RDS, ElastiCache, Redshift, and OpenSearch are planned for the future.

“Cost optimization was the last missing piece to Finout becoming a single pane of glass for all of your FinOps needs,” said Roi Rav-Hon, CEO and Co-Founder of Finout. “Similar to how Datadog has become a single source of truth for observing and understanding the health of cloud systems, Finout has now become the only solution a company needs to fully understand, manage, and optimize their cloud bill.”

Edited by Greg Tavarez
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