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Over the last decade, the move to cloud has undoubtedly accelerated technological innovation for companies large and small. This move has translated to over $100B of cloud spend in 2021 alone. The dynamic of ballooning spend and a “blank check” mentality toward cloud has become a hot button issue for both engineering and finance leaders. However, actually understanding how to measure and anticipate cloud costs remains opaque due to the complexity around cloud billing.
The lack of visibility around resource consumption paired with cloud providers’ clunky pricing and billing systems has left many companies in a lurch when it comes to managing their cloud costs and resulted in margin erosion (as explored recently in this post). Cloud costs can account for 70-80% of total COGS for fast scaling companies. Even then, most companies are still tracking their cloud spend manually via spreadsheets, if at all, without truly understanding how to prioritize and improve the bottom line.
The first step for anyone looking to optimize this enormous bucket of spend starts with visibility, and this is where Vantage comes in.
Over the last decade, the move to cloud has undoubtedly accelerated technological innovation for companies large and small. This move has translated to over $100B of cloud spend in 2021 alone. The dynamic of ballooning spend and a “blank check” mentality toward cloud has become a hot button issue for both engineering and finance leaders. However, actually understanding how to measure and anticipate cloud costs remains opaque due to the complexity around cloud billing.
The lack of visibility around resource consumption paired with cloud providers’ clunky pricing and billing systems has left many companies in a lurch when it comes to managing their cloud costs and resulted in margin erosion (as explored recently in this post). Cloud costs can account for 70-80% of total COGS for fast scaling companies. Even then, most companies are still tracking their cloud spend manually via spreadsheets, if at all, without truly understanding how to prioritize and improve the bottom line.
The first step for anyone looking to optimize this enormous bucket of spend starts with visibility, and this is where Vantage comes in.
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