Site24x7 announced on Wednesday general availability of Site24x7 CloudSpend, its cost analytics solution for public cloud platforms. The new solution is aimed at bridging the gap between capacity planning and cost optimization for resources running in Amazon Web Services (AWS) environment.
CloudSpend's business intelligence (BI) insights enable businesses to visualize runaway expenditures and implement effective budget controls, while reducing operational expenditure across multiple accounts.
Site24x7 empowers IT operations and DevOps with AI-powered performance monitoring and cloud spend optimization. Its capabilities help troubleshoot problems with end-user experience, applications, servers, public clouds, and network infrastructure. Site24x7 is a cloud offering from Zoho, which has offices worldwide, including the Netherlands, United States, India, Singapore, Japan, and China.
Site24x7's CloudSpend addresses these cost optimization issues with a holistic view of cloud expenditures across multiple accounts from a single console. CloudSpend also provides IT teams (IT financial planners and cloud service providers) BI insights for addressing cloud cost adjustments that achieve priority-based resource allocation, and thus helps in reducing overall operating expenditure.
Public cloud adoption has witnessed exponential growth in recent years, and according to IDC, spending on public cloud services and infrastructure is forecast to reach $210-billion in 2019, an increase of 23.8 percent over 2018. The market is forecast to achieve a five-year compound annual growth rate (CAGR) of 22.5 percent with public cloud services spending reaching $370-billion in 2022.
With public cloud being cost effective and easy to set up, businesses tend to leverage them to digitize their services and achieve their business goals faster. This often leads to complexities that arise due to unmonitored, underused or idle cloud resources on various platforms in multiple accounts, resulting in overspend. To eliminate these undesired expenses, organizations need a solution that can help monitor and optimize their cloud costs without impacting their services.
The new addition, along with the existing full stack monitoring insights, reiterate the company's commitment to help customers run more efficiently in the cloud. The company also plans to extend the Site24x7 CloudSpend capabilities to other cloud platforms like Microsoft Azure and Google Cloud Platform, in the near future.
"With pay-as-you-go pricing models, public cloud platforms are strategic drivers for digital transformation. Since digital transformation is largely a process and not the end goal, businesses not only want to embark on their digital transformation journey, but also want to optimize it to reap greater results," said Srinivasa Raghavan, product manager, Site24x7. "CloudSpend's addition to our AI-driven monitoring capabilities not only streamline and enhance performance of their applications on AWS but maintain an equilibrium when it comes to cloud spending, thus creating a win-win situation for DevOps and IT teams."
For all customers and managed service partners looking to optimize their AWS costs, Site24x7 CloudSpend is available at online, free of cost for AWS bills less than $3,000 per month. Site24x7 CloudSpend is planned to be priced at 0.5% of AWS bill amounts greater than $100,000, and 0.8% of AWS bill amounts between $3,000-$100,000.
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