The story behind CloudSpend and why we built it
Back in 2008 when we began our journey, cloud computing was still relatively new. Though the term had a lot of buzz around it, organizations only considered the cloud as a place to experiment, not as a viable alternative to run production workloads. Now, the cloud has become the go-to strategy for enterprises and startups alike to deliver their digital business. There are several factors behind this shift including increased agility, faster innovation, pay-as-you-go pricing, and self-provisioned cloud usage. However, with all these new benefits comes new challenges.
Decentralized IT procurement
In the past, purchasing technology involved contractual obligations, procurement cycles, and multiple stakeholders. Now with cloud platforms, engineering teams can flexibly acquire new IT resources on behalf of their organization as well as experiment, develop, and ship new projects with almost zero accountability.
Traditionally in on-premises environments, computing costs associated with running applications are tied to hardware procurement and considered capital expenditure, leading to predictable entries in the balance sheet. Now with cloud computing, finance teams have to decipher bills that talk about multiple usage types, instance types, accounts, pricing models, deployment types, billing periods, and more.
As organizations feel the crunch to reduce costs and improve time to market, they turn to the cloud for answers. But, with the fundamental difference between cloud and on-premises environments, teams can't rely on KPIs like availability and performance anymore to quantify their migration. They need another operational metric to support their cloud journey: cost.
Today we're launching Site24x7 CloudSpend, a SaaS-based cloud cost management tool that provides this very metric. With this new addition, Site24x7 now offers end-to-end full-stack monitoring and cost optimization to help you get the most out of your AWS investment.
General availability is just the start. Over the next couple of months and years, we will be adding new capabilities, and extending support to other cloud platforms as well. CloudSpend is free to use for 30 days, so give it a try, and if you have any feedback or suggestions, we'd love to hear from you.
TLDR: We're excited to announce that we're adding a new member to the Site24x7 family–CloudSpend. This addition represents our growing commitment to support organizations as they migrate their workloads to the cloud.