FinOps is essential for enterprises, as it combines financial accountability with cloud operations, enabling efficient resource allocation and maximizing cloud investments. It offers clear visibility into cloud spending, facilitating data-driven decisions, cost optimization, and financial control.
That said, Vega Cloud estimates that companies will waste over $500 billion on cloud infrastructure between now and 2030. This stems from a tendency companies have to over-provision their infrastructure and the complex nature of cloud environments, which makes it hard for IT pros to see how their infrastructure is being used.
Vega Cloud is a provider of FinOps platforms designed to help enterprises optimize their cloud spending. Available since 2019, Vega Cloud's FinOps platform helps companies reduce their cloud spending by approximately 22% annually. To do that, those companies leveraged the platform's comprehensive features and capabilities to effectively manage and optimize their multi-cloud environments.
The FinOps platform offered by Vega Cloud covers the entire lifecycle of FinOps, enabling teams from different departments (such as engineering and procurement) to collaborate and make informed decisions about cloud spending. The platform provides seamless connectivity, management, automation, and optimization features which empower organizations to streamline their cloud operations and achieve cost efficiencies.
To further help companies and ensure they are not wasting money on cloud infrastructure, Vega Cloud has launched VScore Benchmarking and Cloud Heroes Gamification.
Understanding and optimizing performance is not as simple as identifying the application with the lowest storage costs or focusing solely on workloads utilizing cloud-native technology. The truth is performance optimization encompasses factors that go beyond individual metrics. It involves considering a holistic view of the infrastructure, applications, and workloads in relation to business objectives.
By taking a comprehensive approach and considering multiple factors, companies can gain a deeper understanding of their infrastructure and applications, identify areas for improvement, and make informed decisions to achieve optimal performance in the cloud environment.
Vscore aims to provide IT professionals with visibility into how their cloud infrastructure and applications are performing relative to other infrastructure and applications in their environment. Additionally, the users measure their cloud cost performance against industry standards, encouraging them to further optimize their spending and drive greater efficiency.
“VScore is a simple way for organizations to make sense of their cloud investments and prioritize additional optimization work in the future,” said Willy Sennott, Executive Vice President of FinOps at Vega Cloud.
The Cloud Heroes feature in the new Vega Cloud release enables users to turn financial management into an engaging and enjoyable end-user experience. The Vega Cloud platform identifies IT professionals who are optimizing cloud resources and tracks how much each person has saved. The intention is to encourage cost optimization throughout the IT organization, change cloud behavior and reward the top performers.
In addition to VScore and Cloud Heroes, the updated Vega Cloud platform includes improved visibility into cloud spend data, so users can take even more control of their cloud finances, and up-to-the minute alerts on cloud spend anomalies as well as recommendations for optimization.
“It’s never a question of if a company wants to optimize its cloud resources – everyone wants to – but rather do they know how and are they committed to the process,” said Kris Bliesner, CEO at Vega Cloud. “Benchmarking and gamification give our customers the tools they need to make cost optimization identification and execution easier and more rewarding."
Edited by Alex Passett