ManageEngine - the enterprise IT management division of Zoho Corporation - has announced the availability of its cloud observability and cost optimisation platform CloudSpend, for Microsoft Azure.
Already available for AWS, the solution's business intelligence and smart forecasting capabilities have evolved to address the gap between capacity planning and cost optimisation for resources running in multi-cloud environments.
Public cloud adoption has seen exponential growth in recent years, with spending expected to reach US$600 billion in 2023.
Public cloud offerings are flexible and easy to use, and with proper security, compliance and scalability, businesses can achieve their goals quickly.
However, cloud users often overestimate their cloud usage and provision higher thresholds for resources than needed. This leads to cloud resources being underutilised or, in some cases, never utilised.
CloudSpend targets the burgeoning costs of AWS and Azure adoption among public cloud providers.
According to ManageEngine's State of IT Management Survey Report, 35% of the businesses have adopted a multi-cloud environment, of which 63% use both AWS and Azure.
"The cloud was embraced with the primary notion of reducing capital expenditure, but it inadvertently is why organisations bleed cash systematically. In a cloud-native world where organisations rely on the public cloud for their digital transformation, observability and optimisation are essential to streamline cloud operations and get the most of the money spent on cloud assets," says Gibu Mathew, Vice President, Zoho Corporation.
CloudSpend's notable features include business units and chargebacks, budgets and forecasts, resource explorer with out-of-the-box visibility, multi-currency support, and IT automation.
With chargebacks, organisations can use native tags to make business units accountable and attribute tags to understand the costs of different projects, departments, teams or cloud customers.
Businesses can define budget limits for AWS and Azure accounts and receive notifications when spending exceeds the budget. CloudSpend can also give insightful forecasts based on historical data.
CloudSpend also has nine types of system-generated tags to slice and dice organisations' AWS and Azure expenditures. Teams can schedule reports on different aspects, including linked accounts, service types, regions and user-defined tags.
CloudSpend supports multiple currencies, letting finance and IT teams view costs in currencies from 25 different geographic locations for various transactions.
Lastly, CloudSpend provides a solution that can right-size cloud resources via IT automation and integrate seamlessly with multiple third-party providers to keep track of spending across vendors.
With these features and many more, CloudSpend provides financial planners, IT teams and cloud service providers with the key business intelligence they need to streamline their capital expenditure and scale their businesses without wasting resources.
ManageEngine CloudSpend is available for businesses of all sizes in any industry.
An organisation can track up to US$3,000 of its monthly AWS and Azure spending for free. The paid version starts at 0.8% of an organisation's monthly AWS and Azure bill between US$3,000-$100,000 and 0.5% of its monthly spending over US$100,000.