Wednesday, December 6, 2023
HomeTechCloudManageEngine CloudSpend Launches Cloud Cost Management Capabilities

ManageEngine CloudSpend Launches Cloud Cost Management Capabilities

Key Highlights

  • The enterprise IT management division of Zoho Corporation, ManageEngine, has launched its cloud observability and cost optimization platform, CloudSpend, for Microsoft Azure.
  • It was already available for AWS.
  • The solution’s business intelligence and smart forecasting capabilities have evolved to address the gap between cost optimization and capacity planning for resources operating in multi-cloud environments.

Public cloud adoption has seen exponential growth in recent years, with spending anticipated to reach $600 billion in 2023. Public cloud offerings are easy to use and flexible. With compliance, scalability and proper security, businesses can achieve their goals faster.

However, cloud users usually overestimate their cloud usage and provision higher thresholds for resources than required. It leads to cloud resources being underutilized or never utilized in some cases.

CloudSpend targets the burgeoning costs of Azure and AWS adoption among public cloud providers. 35% of the businesses have adopted a multi-cloud environment, of which 63% use both AWS and Azure, according to ManageEngine’s State of IT Management Survey Report.

Gibu Mathew, VP of Zoho Corporation, said that the cloud was embraced with the primary notion of reducing capital expenditure, but it inadvertently is why organizations bleed cash systematically. In a cloud-native world where organizations rely on the public cloud for digital transformation, observability and optimization are essential to streamline cloud operations and get the most of the money spent on cloud assets.

Notable Features of CloudSpend

The notable features of CloudSpend include the following:

  • Business units and Chargebacks

With chargebacks, organizations can use native tags to make business units accountable and attribute tags to understand the costs of different projects, teams, departments, or cloud customers

  • Budgets and Forecasts

Businesses can define budget limits for Azure and AWS accounts and receive notifications when spending crosses the budget. Based on historical data, CloudSpend can also provide insightful forecasts.

  • IT Automation

CloudSpend can rightsize cloud resources through IT automation and integrate seamlessly with multiple third-party providers to keep track of spending across vendors.

  • Resource Explorer With Out-of-the-box Visibility

CloudSpend has nine types of system-generated tags to slice and dice AWS and Azure organizations’ expenditures. Teams can schedule reports on various aspects, including linked accounts, regions, service types, and user-defined tags.

  • Multi-currency Support

CloudSpend also supports multiple currencies. It lets finance and IT teams view costs in currencies from 25 geographic locations for various transactions.

With the above features, 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.

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