FinOps

Over half of FinOps pros report using spreadsheets or native tools to get their work done*, processes that are typically inefficient and cause frustration. Although this can work for a small cloud footprint, maintaining spreadsheets or scripts becomes cumbersome as your cloud environment grows. Plus, tracking all the new services or pricing changes from your cloud providers can become a true nightmare before you know it.

CloudBolt comes with cost transparency and service health built-in. With CloudBolt's powerful custom reports you don't just know how much of your budget is being spent, but you also gain insights into who is spending your money and where. For example, you can slice and dice your spend information by account, services, and users to gain granular visibility, moving you closer to a chargeback, shameback, and showback model to drive more accountability. You can export these reports into CSVs or forward them to users and executives who need visibility into that information.

*2021 State of FinOps Report

We understand it’s a busy and chaotic time for your team. As mentioned earlier, 39% of engineers don’t take actions to drive savings. Additionally, you’re being asked more questions around inflating cloud spend, which you can barely keep track of with your old tools. 

Gen-1 cost management tools are built towards providing you a certain level of visibility. They do that well. They might also provide basic cost saving recommendations based on stale information they ingest. This limits how much savings you can realize through those tools.

CloudBolt Cost Management comes built-in with powerful capabilities to identify money-saving opportunities in real-time. We don’t just provide you with visibility but take actions on your behalf. We do this through our powerful rightsizing policies and our automation engine. You define how these policies work. For example, you can set a policy that when CPU usage falls below 15% for 7 days, terminate an EC2 instance. When this condition is met, all those instances will get terminated. Alternatively, you can get an email or Slack message in your channel before taking an action. This is the new way of doing cloud cost management. Or, you can opt out of certain services or environments by referring to tags from these policies.

Reserved Instances (RIs) are a great way to save money in any cloud environment. They can help you save up to 60% of your cloud cost. However, RI management is tough. In Gen-1 world you would need to use spreadsheets, build pivot tables, and employ engineers to track which RIs you bought, which ones are expiring, and ones you need to buy.

Luckily with the next-gen cost management from CloudBolt, you move towards a real-time RI management play. We keep track of your current RI environment and build a forecast based on your current consumption. After that, we recommend you which RIs you should buy and we help your users reserve capacity for one or three years directly from the portal to realize savings. No need to go to various platforms. Ease the load on your engineers with more automation capabilities.