In an era where cloud adoption continues to rise, so does the complexity of managing cloud costs, usage, and governance. According to the latest Flexera 2024 State of the Cloud Report, more than half of all data now resides in public clouds, with 84% of the respondents citing cloud spending as their top challenge. This rising complexity pushes organizations to seek efficient ways to navigate their cloud environments while ensuring cost-effectiveness and financial control.
At Flexera, we’ve made it our mission to tackle these challenges head-on. Our focus on delivering a unified, seamless approach to cloud financial management empowers businesses to take control of cloud costs with ease. We’re honored to be recognized as a Leader in the 2024 Gartner® Magic Quadrant™ for Cloud Financial Management Tools. We believe it is affirming our commitment to helping businesses optimize their cloud investments and streamline operations.
Why Flexera was named a Leader
We believe this recognition underscores our innovation in cloud cost management and FinOps. Gartner evaluated vendors based on criteria that analyzed the company’s overall completeness of vision and ability to execute.
Navigating the complexity of cloud financial management
Managing cloud environments is no small feat. With multiple providers, complex pricing models, and constantly fluctuating usage demands, organizations risk overspending if they lack a clear financial strategy.
Flexera One FinOps delivers powerful solutions that help businesses to:
- Gain comprehensive visibility into multi-cloud environments, ensuring every cloud service is tracked and costs are allocated
- Optimize cloud spending by identifying opportunities to reduce waste, such as unused or overprovisioned resources.
- Automate cost management processes, reducing the risk of human error and enabling real-time financial insights.
- Align cloud spending with business goals, ensuring cloud investments drive tangible outcomes.
Flexera One FinOps differs from other solutions in the market for several reasons. Here are a few that set it apart:
- Any cloud, any cost: Ingest cost data from any cloud, in any currency (with up-to-date currency conversions), and all related costs.
- Genuine multi-cloud reporting: Tabular view of all cloud sources in a single source with currency options.
- Extensible policy engine: Automation and remediation of FinOps activities and bespoke recommendations.
- Convergence of data: Enable collaboration between ITAM, FinOps, and SaaS disciplines with unified data.
“As organizations continue to expand their cloud environments, the need for effective financial management becomes critical,” said Brian Adler, Sr. Director of Cloud Market Strategy at Flexera. “Flexera’s approach to FinOps and cloud cost management equips businesses with the solutions they need to not only optimize their cloud spend but align those investments with strategic business goals. We feel our inclusion as a Leader in the Gartner Magic Quadrant highlights our commitment to driving innovation and delivering real value to our customers.”
Get the full report
At Flexera, we believe the convergence of ITAM and FinOps data is essential to unlocking the full potential of cloud investments. Both disciplines incorporate SaaS management and cloud license management into their scopes, presenting a huge opportunity for collaboration, as organizations look to tackle spend and risk management across their entire IT environment.
We believe Flexera’s recognition in the 2024 Gartner Magic Quadrant for Cloud Financial Management Tools marks an important milestone in our journey. We feel it reflects our dedication to providing industry-leading solutions that deliver real business outcomes for our customers.
To learn more about Flexera’s position as a Leader, download a complimentary copy of the report.
Gartner® “Magic Quadrant for Cloud Financial Management Tools ” by analysts Dennis Smith, David Wright, Marco Meinardi, Ang Troy and Ken Rothenberger, 15 October 2024.
GARTNER is a registered trademark and service mark of Gartner, and Magic Quadrant is a registered trademark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved.
This graphic was published by Gartner, Inc. as part of a larger research document and should be evaluated in the context of the entire document. The Gartner document is available upon request from Flexera.
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