Cloud Cost Optimization: 9 Tips for Lowering Your Cloud Bills

As companies keep shifting towards the Cloud, the cost of hosting applications and services can easily escalate. Though Migration to Cloud has numerous advantages, including scalability and flexibility, managing Cloud Costs is important. In this article, we will share 9 useful tips to reduce your Cloud bills without sacrificing performance or reliability.

Why is Cloud Cost Optimization Important?

Cloud Cost Optimization is managing and minimizing Cloud costs without reducing the quality of service. Optimizing Cloud costs helps companies save money, increase performance, and strengthen their business operations. Cloud computing brings the ability for unlimited scalability and pay-as-you-go pricing, which allows you to only pay for usage. But with it comes the potential to spend freely and waste resources.

9 Effective Tips for Reducing Your Cloud Bills

Below are some of the most important Cloud Cost Optimization tips that can assist you in reducing your cloud bills:

• Utilize Cost Optimization Tools: Most Cloud providers provide Cloud Cost Optimization Tools to assist you in determining cost-saving opportunities and optimizing your Cloud usage. These tools can assist you in selecting and eliminating idle resources, determining underutilized resources, and optimizing your workloads.
• The Correct Pricing Model: Several pricing models Cloud Providers provide, e.g., pay-as-you-go or reserved instances. Carefully consider the options and select a pricing model that best suits your requirements. For example, a reserved instance will be more cost-saving if you have predictable workloads. If your workloads are variable, a pay-as-you-go model will be preferable.
• Use Cost Allocation Tags: Cost allocation tags let you group and monitor your Cloud expenses by department, project, or other categorizations that are relevant to your company. With cost allocation tags, you can see your cloud spending more clearly and determine cost-saving measures.

• Track your Cloud Usage: You need to regularly track your Cloud usage to avoid paying extra for resources you are not utilizing. You can track your usage and determine which resources are underutilized and how to streamline your usage to save on costs.
• Removing Idle Resources: Removing idle resources is a critical aspect of Cloud Cost Optimization. Identifying and eliminating unused resources enables businesses to lower their cloud expenses, optimize efficiency, and ensure they are maximizing the return on their cloud investments.
• Right-Size Your Resources: When you're getting ready to deploy Cloud resources, making sure you get the correct size for your requirements is essential. Oversizing your needs can result in unnecessary expenses, while undersizing means you might have performance problems. Spending the time to right-size your resources can tell that you're getting the least expensive for the resources you require.
• Use Reserved Instances: Reserved Instances represent prepaid agreements wherein companies pay advance for their cloud resource usage on a long-term basis. Utilizing Reserved Instances, businesses receive substantial discounts from their cloud invoice.
• Utilize Automation: Automation is capable of streamlining your use of the cloud and reducing expenditures. For instance, you can employ infrastructure-as-code (IaC) to automate how you construct and set up cloud environments. By doing this, you can reduce the effort and time needed to handle your cloud infrastructure, thereby saving you money.
• Use the Right Tools: Numerous tools can be used to optimize your use of the Cloud and reduce costs. These tools can assist you in identifying areas where you can save, track usage, and automate. You need to go through the options carefully and select the tools that suit your requirements.

By applying these tips, you can reduce your Cloud charges and make the most out of your money. Therefore, ensure you integrate these cost management techniques into your Cloud Strategy to ensure that you are reaping the full advantages of the Cloud.

How Wanclouds Can Help with Cloud Cost Optimization

Wanclouds provides end-to-end Cloud Cost Optimization as a service with its Multi-Cloud automation platform, VPC+, which allows enterprises to gain control over their cloud expenditures. Equipped with discovery and cost visibility, purpose tagging, identification of idle resources, right-sizing methods, and automated turn-on/off for test environments, Wanclouds helps companies save up to 50% on Cloud costs.

Furthermore, VPC+ enables test and demo environment backup and recovery, like AWS EKS or IBM IKS, to prevent unnecessary expenditure. Wanclouds is also present on AWS Marketplace and IBM Catalog, and it offers adaptive subscription plans for small, medium, and large businesses.

To get started, you can fill out our Request form or contact us at [email protected]. You can also learn more about our service by downloading our detailed Data Sheet.