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How To Avoid Overspending On The Cloud?

Cloud solutions are being adopted across multiple industries. Whether it is the finance sector, health care industry, manufacturing or retail industry, cloud technology is popular enough with its effective and efficient working system. The cloud computing market is an increasingly growing market and cloud waste is also bound to increase with its growth. A report by Gartner shows that cloud waste is approx $21 billion till 2021.

You should be aware of the reasons for cloud overspending and the potential ways to reduce the expenditure by optimizing cloud usage. Let us see how you can make it possible.

1.     Better Understanding of Cloud Technology

Lack of understanding of cloud solutions results in over-targeted anticipated cloud usage. It is normal at the initial age of your journey to the cloud. Your business needs, market trends related to our industry, may differ from the approach to opt for the cloud solutions. Such issues can be resolved with a well-defined plan for cloud cost management with the help of a professional cloud service provider.

2.     Strategy to avoid misaligned priorities

You should create a policy associated with cloud usage and expenditure. It will be a defined strategy to control and manage cloud resources across the organization. It will be the guide to your cloud journey, otherwise, you may end up with misaligned priorities leading to overspending.

3.     Review service provider’s contracts

Keep a close eye on your cloud service provider contracts, licensing and subscription. It is necessary to reduce cloud overspend. You can renegotiate the subscriptions at regular intervals in order to reduce subscription costs. If a company is dealing with multiple service providers, these savings will be substantial in the long run. Thus, they need to give attention more closely.

4.     Decommission idle resources

Cloud computing helps in thorough assessments to identify assets that are idle and no longer required in a company. There are cloud cost optimization tools to assist you with these assessments. Thus, be regular to use your cloud resources tools.

Thus, these are the strategies to control over provisioned resources in cloud technology. A report by RightScale shows that around 40% of cloud instances are larger than their requirements for workloads in a company. These strategies will help you to reduce oversized instances and large bills. You can strategize your cloud migration with Stonebridge efficiently. They will assist you with their cloud consulting services for optimized results.

Stonebridge Technologies is a leader in providing tech staffing services. It has expertise in a wide array of technologies in areas like cloud engineering, mobile network solutions, and product engineering and can take care of helping your team offer the best solution to your clients. 

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