The growing importance of Cloud Cost Management and Optimization (CCMO)
As businesses increasingly rely on cloud technologies, effective Cloud Cost Management and Optimization (CCMO) becomes crucial. Cloud cost management and optimization can lead to significant savings, improved resource allocation, and better overall efficiency. By leveraging tools and practices that provide visibility and control over cloud spending, businesses can avoid over-provisioning and identify underutilized resources.
Additionally, adopting a proactive approach to cloud cost management ensures that investments align with business objectives and drive real value. This is where analyst reports like Forrester Wave™ come into play by providing valuable insights into the top CCMO solutions, helping organizations make informed decisions. You can leverage the Forrester Wave™ in your cloud strategy to:
- Understand the CCMO landscape, explore the 25-criteria analysis of CCMO providers and compare their features
- Discover key selection criteria for choosing the right CCMO solution
- Learn how collaboration between FinOps and ITAM is critical for optimal cloud management and cost control
Flexera named a leader in the Forrester Wave™ for CCMO
Flexera has been recognized as a leader in The Forrester Wave™: Cloud Cost Management and Optimization Solutions, Q3 2024.
Brian Adler, Senior Director of Cloud Market Strategy at Flexera, commented, “FinOps and ITAM have a lot of overlapping responsibilities and shared interests, so it only makes sense that the disciplines would collaborate to realize strategic company goals like organizational cost savings. In fact, 32% of software asset management teams are engaging with their FinOps counterparts, up from 25% last year, according to our recent State of ITAM report. Fully managing and optimizing your cloud cost centers requires comprehensive visibility across your entire environment, including all your software and SaaS running in the cloud. This is where Flexera One FinOps shines.”
Our key takeaways from the report: Why we believe Flexera stands out
The Forrester Wave™ report evaluates CCMO solutions based on a robust methodology and comprehensive criteria. As Tracy Woo, Principal Analyst at Flexera, writes in her blog on learnings from the Forrester Wave™, “This process is incredibly long and thorough. We go through hours-long briefings and customer calls and perform multiple iterations on scoring; the vendors go through the same. They put in many hours setting up customer references, product demonstrations, and strategy briefings, and then writing responses.”
This valuable resource evaluates the CCMO landscape and identifies the most significant CCMO providers in the industry. We’re thrilled that Flexera is among the leaders of the CCMO Pack. and was recognized for the following:
- Flexible Platform: Known for integrating IT asset management (ITAM) capabilities with its cloud cost management solution.
- Pricing Flexibility and Transparency: Offers unmatched pricing flexibility and transparency to fit your budget and needs.
- Superior Billing Administration: Provides billing administration to streamline your financial operations.
- Superior Resource Discovery and Integration: Recognized for discovering and integrating resources seamlessly.
The Forrester Wave™ report highlights aspects that resonate deeply with our own customers’ challenges, such as cost optimization, visibility and automation. We feel the report underscores the importance of tools that can identify and eliminate unnecessary expenses, ensuring the best use of cloud resources. It also emphasizes the need for comprehensive visibility into cloud spending, a view we share, as it is essential for strategic planning. The report also focuses on automation in cloud cost management as it helps streamline operations, reduce manual intervention, and enhance overall efficiency.
Unleash the power of Flexera’s CCMO solutions
Flexera One FinOps provides solutions tailored to manage and optimize cloud costs at any stage of your FinOps journey. With Flexera One’s CCMO solutions, organizations can:
- Understand and manage cloud usage and spend
- Plan for cloud migration and operate cloud environments at scale
- Discover and address SaaS sprawl while identifying duplicate applications
- Manage usage and spend across hybrid IT environments with ease
“When we realized that we were missing the multi-cloud cost view and we were missing the transparency that we can provide to the stakeholders when it comes to their cloud spend, that’s when we decided to go for a FinOps tool and that’s where we picked Flexera because they were one of the trusted partners”
– Sonal Gupta, Service Delivery Manager, Cloud Hosting Infrastructure for Carlsberg
Watch her full experience leading the brewing giant’s FinOps practice with the help of Flexera solutions.
Download the full Forrester Wave report and discover how we believe Flexera can help you optimize your cloud costs.
To learn more about Flexera’s solutions and to access the full Forrester Wave™ report, visit Flexera One FinOps. Discover how we can help you achieve cloud cost management and optimization, driving strategic value and cost savings for your organization.
The Forrester Wave™: Cloud Cost Management and Optimization, Q3 2024
Source: Forrester Research, Inc.
