Flexera Cited as a Leader by Independent Research Firm for Cloud Cost Management and Optimization
Flexera Strengthens Effective FinOps with Flexera One Cloud Cost Optimization
Itasca, IL - September 14, 2022 Flexera, the company that helps organizations maximize business value from their technology investments, today announces that Forrester Research positioned it as a leader in The Forrester Wave™: Cloud Cost Management and Optimization, Q3 2022.
Flexera and nine other vendors were evaluated for The Forrester Wave™ based on 26 criteria grouped into three categories: current offering, strategy, and market presence. In the evaluation, Flexera received the top score in the current offering category. In addition, Flexera had the highest possible scores in the product vision, access and permissions, resource discovery and cloud platform support, billing, cloud visibility, cost optimization, partner ecosystem, and commercial model criteria.
From Forrester’s evaluation of Flexera, “Since 2020, the company’s presence has grown by almost one-third, with over 95% of its customers as enterprises with significant cloud spend. Flexera has established a massive partnership with tech giant IBM, which acquired Turbonomic last year. This enables IBM to include Flexera One in its product offerings.” The Forrester report also states, “Flexera is relevant for customers looking for a large portfolio that includes license management and leading-edge optimization recommendation capabilities.”
“Enterprises are increasingly turning to Flexera One as a foundation for effective FinOps,” said Jim Ryan, CEO of Flexera. “Wasted cloud spend is a major issue that becomes more critical as cloud costs continue to rise, yet many organizations underestimate their wasted spend. In the Flexera 2022 State of the Cloud Report, respondents self-estimated that their organizations waste 32 percent of cloud spend, which is up from 30 percent last year. This waste can be managed through FinOps programs and cloud cost optimization tools, which drive significant cost savings.”
- The Forrester Wave™: Cloud Cost Management and Optimization, Q3 2022
- Press release: IBM Announces New AIOps Solutions Designed to Automate Software License Compliance
- Press release: Flexera Drives FinOps Best Practices with Flexera One Cloud Cost Optimization
- Flexera 2023 State of the Cloud Report
- Flexera 2022 Tech Spend Pulse
Flexera saves customers billions of dollars in wasted technology spend. A pioneer in hybrid ITAM and FinOps, Flexera provides award-winning, data-oriented SaaS solutions for technology value optimization (TVO), enabling IT, finance, procurement and cloud teams to gain deep insights into cost optimization, compliance and risks for each business service. Flexera One solutions are built on a set of definitive customer, supplier and industry data, powered by Technopedia, that enables organizations to visualize their Enterprise Technology Blueprint™ in hybrid environments—from on-premises to SaaS to containers to cloud. More than 50,000 customers subscribe to Flexera’s technology value optimization solutions, delivered by 1,300+ team members worldwide. Learn more at flexera.com
About Flexera One
Flexera’s flagship platform, Flexera One, is the first of its kind: a platform that delivers the power to mitigate risk, reduce costs, and maximize every technology investment. It offers technology value optimization (TVO) through IT visibility, IT asset management (ITAM), cloud cost optimization (CCO), and cloud migration and modernization. Flexera One enables enterprises to take control of their cloud journey with:
- Definitive technology resource data. Flexera One offers comprehensive and normalized cost visibility into the data center, SaaS and cloud through unique discovery and the unmatched Technopedia catalog of IT product reference data.
- Consumption intelligence. Flexera One provides savings on licensing costs by applying use rights and rightsizing investments. Internal Flexera customer research has found that customers save more than 30 percent with this approach.
- Automated portfolio governance. Flexera One continually optimizes business agility through automated cost optimization and feeding compliance and cost data into other IT solutions via outbound and inbound APIs.
- Hybrid IT optimization. Customer leverage Flexera One's data to optimize their complex IT estates that span on-premises, SaaS, containers, and Cloud. This enables a holistic approach to negotiations with major vendors, including Microsoft, IBM, Oracle, Salesforce, AWS and SAP.