ManageEngine, a division of Zoho Corp. and a leading provider of enterprise IT management solutions announced that CloudSpend, its cloud cost management tool, has extended its support to Google Cloud Platform (GCP).
Industry sources added that by expansion of cost optimization services to GCP, following AWS and Microsoft Azure, CloudSpend now covers the three largest public cloud computing platforms worldwide by market share, enabling enterprises with a multi-cloud setup to streamline their operational expenses.
Furthermore, CloudSpend has been enhanced with a cost anomaly detection capability, which focuses on monitoring and managing cost blind spots across multiple cloud service providers.
Srinivasa Raghavan, director of product management at ManageEngine stated “ManageEngine estimates that organizations operating in a multi-cloud environment often under-utilize their cloud resources, with their cloud usage topping at 55%. At ManageEngine, we believe that CloudSpend will help businesses rise above such challenges and advance in their cloud maturity journey by offering the visibility to stay on top of their investments. This multi-cloud cost intelligence platform follows FinOps best practices and is boosted with smart forecasting features that help reduce operational expenditure. It also bridges the gap between capacity planning and cost optimization for resources running in multi-cloud setups.”
Industry sources confirmed that organizations are keen on embracing not just one but multiple cloud platforms to diversify their business operations, split workloads, ensure cost-cutting and eventually enjoy success.ย Consequentially, investments into public cloud adoption are expected to reach $679 billion in 2024, entailing an efficient cloud cost observability and optimization platform to maintain cloud finances.
Industry sources further added that cost anomaly detection, the newest addition to CloudSpend’s wide range of features, acts upon any cost-related anomalies at the organizational level. It identifies unexpected cost increases or resource usage that deviates significantly from the norm. It also provides insights into opaque pricing, where costs may be hidden and potentially higher than expected.
Other Key Features of ManageEngine CloudSpend
- Business Units and chargebacks: For greater accountability across departments, CloudSpend Business Units lets organizations carry out chargebacks and implement accountability within organizations.
- Budgeting and forecasting: Create budgets in multiple currencies through budget policies and set budgetary alerts. Understand how the cost journey takes shape with usage-based, AI-driven forecasting models.
- Resource Explorer: Drill down costs at the resource level for in-depth cost visibility with smart tagging and get insights about spinned-off resources.
Pricing and Availability
The pricing model for CloudSpend caters to businesses of all sizes, offering free tracking of costs up to $3,000 per month of spending on GCP, AWS, and Azure cloud. The paid version starts at 1% of monthly spending above $3,000 and is available to download on both iOS and Android.
