- 21 March 2019 06:42
Site24x7 Announces CloudSpend, Its Cost Analytics Platform for the Public Cloud
SYDNEY —March 21, 2019—Site24x7, the cloud-based performance monitoring solution for DevOps and IT operations from Zoho Corporation, today announced the general availability of Site24x7 CloudSpend, its cost analytics solution for public cloud platforms. The new solution is aimed at bridging the gap between capacity planning and cost optimisation for resources running in Amazon Web Services (AWS) environments. CloudSpend's business intelligence (BI) insights enable businesses to visualise runaway expenditures and implement effective budget controls, while reducing operational expenditure (OpEx) across multiple accounts.
Public cloud adoption has witnessed exponential growth in recent years, and according to IDC, spending on public cloud services and infrastructure is forecast to reach US $210-billion in 2019, an increase of 23.8% over 2018. The market is forecast to achieve a five-year compound annual growth rate (CAGR) of 22.5% with public cloud services spending reaching US $370-billion in 2022. With public cloud being cost effective and easy to set up, businesses tend to leverage them to digitise their services and achieve their business goals faster. This often leads to complexities that arise due to unmonitored, underused or idle cloud resources on various platforms in multiple accounts, resulting in overspend. To eliminate these undesired expenses, organisations need a solution that can help monitor and optimise their cloud costs without impacting their services.
Site24x7's CloudSpend addresses these cost optimisation issues with a holistic view of cloud expenditures across multiple accounts from a single console. CloudSpend also provides IT teams (IT financial planners & cloud service providers) BI insights for addressing cloud cost adjustments that achieve priority-based resource allocation, and thus helps in reducing overall OpEx.
"With pay-as-you-go pricing models, public cloud platforms are strategic drivers for digital transformation. Since digital transformation is largely a process and not the end goal, businesses not only want to embark on their digital transformation journey but also wants to optimise it to reap greater results," said Srinivasa Raghavan, product manager, Site24x7. "CloudSpend's addition to our AI-driven monitoring capabilities not only streamline and enhance performance of their applications on AWS but maintain an equilibrium when it comes to cloud spending, thus creating a win-win situation for DevOps, and IT teams."
Highlights of Site24x7 CloudSpend
- Business Units: With business units, organisations can attribute spending to one or more entities based on tags and understand costs by different projects, departments, teams or cloud customers.
- Budgets: Set budget limits for AWS accounts, business units or tagged resources and receive notifications when spending exceeds the budget .
- Out-of-the-box views: Gain a quick snapshot of an organisation's AWS expenditure broken down by various dimensions, including linked accounts, service type, region and user-defined tags with options to schedule them as reports.
- Security: Fortified with self-hosted data centres, redundant grid architecture, encryption in transit, ISO/IEC 27001 certification, GDPR compliance, and SOC 2 certification, plus strict policies and processes, Site24x7 CloudSpend provides top-of-the-line security.
The new addition along with the existing full stack monitoring insights reiterate the company's commitment to help customers run more efficiently in the cloud. The company also plans to extend the Site24x7 CloudSpend capabilities to other cloud platforms like Microsoft Azure and Google Cloud Platform, in the near future.
For all customers and managed service partners looking to optimise their AWS costs, Site24x7 CloudSpend is available at: https://www.site24x7.com/cloudspend/, free of cost for AWS bills less than US $3,000 per month. Site24x7 CloudSpend is planned to be priced at 0.5% of AWS bill amounts greater than US $100,000, and 0.8% of AWS bill amounts between US $3,000-$100,000.
Site24x7 empowers IT operations and DevOps with AI-powered performance monitoring and cloud spend optimisation. Its broad capabilities help quickly troubleshoot problems with end-user experience, applications, servers, public clouds, and network infrastructure. Site24x7 is a cloud offering from Zoho Corporation, which has offices worldwide, including the Netherlands, United States, India, Singapore, Japan, and China. For more information about Site24x7, please visit: www.site24x7.com/.