Cloud Cost Management for a Hybrid Business Economy

While Gartner forecasts overall annual worldwide IT spending to decrease 8% in 2020 due to the impact of COVID-19, public cloud services spending is expected to increase by 19%. This means that cloud cost management should be high on your radar as you plan for 2021.

Although the coronavirus and subsequent economic recession is expected to cause some enterprises to cut back on overall IT spending in the near-term, many organizations will continue to invest in the technologies they need to:

  • compete in the digital economy
  • adapt their IT infrastructures to a post-pandemic operating model

As most IT pros know, managing software resources across a decentralized, hybrid network environment is complex. Perhaps you have been planning to move more of your resources to the cloud to gain flexibility and to sharpen your organization’s competitive edge. Thanks to recent global events, your plans have been accelerated – great! But probably without the careful planning you would have wished – less great.

A new white paper from the CIO Online shows you how to get ahead of your cloud resources, manage and optimize them – even if your organization doesn’t yet have cloud governance processes in place.

Cloud cost management in focus

With the widespread adoption of cloud – 92% of organizations have at least one cloud deployment – cloud cost management is more critical than ever.

Simply put, cloud cost management is your organization’s greatest partner in spending smarter in the cloud. By tracking and monitoring license assignments, usage, and infrastructure dependencies, cloud cost management and cloud cost optimization provide the data aggregation and insights needed to drive strategic, flexible cloud adoption, while also keeping costs low.

Source: [Denis Isakov]/[iStock / Getty Images Plus] via Getty Images

Cloud cost management also allows internal teams across the organization to tie cloud consumption and costs to business KPIs, integrating cloud spending into the overall business goals of the organization.

And integrating cloud cost management into your strategic digital initiative protects your business from unforseen future shifts – and can play a role in steering business growth.

According to the CIO report: When tracking and managing software is part of a strategic digital initiative and an integral element of an outcome-driven business plan, organizations can handle disruptions like the business contraction stemming from pandemic-driven economic shutdowns.

Read the CIO report, Managing Software in the New Business Paradigm, to learn more about how cloud license management can help drive a strategic digital initiative that secures business growth in a post-pandemic economy.

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