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Did you know that over 60% of companies have already embraced FinOps to control their cloud costs? This isn't just a trend; it's a game-changer in managing cloud finances. As cloud adoption grows, so does the need for effective cost management, and that's where FinOps comes in. By aligning finance, technology, and business teams, FinOps ensures every cloud dollar is well-spent, driving real value.
The impact is significant—companies that master FinOps can reduce their cloud costs by 20% to 30%. It's not just about saving money; it's about making smarter, more strategic investments in your cloud infrastructure.
In this blog, you’ll learn about the essential FinOps platforms in 2024 and why they're becoming a must-have for modern businesses.
A FinOps tool is a specialized software designed to optimize and manage your cloud financial operations, integrating financial accountability directly into the cloud management process.
FinOps platforms provide real-time insights into cloud spending, automate cost-saving measures, and facilitate collaboration between finance, engineering, and operations teams to ensure efficient use of cloud resources. Using data analytics, they help you make informed decisions about cloud investments, driving cost efficiency and performance.
The FinOps lifecycle, as outlined by the FinOps Foundation, consists of three ongoing components: Inform, Optimize, and Operate.
In 2023, the FinOps community created a library of optimization opportunities, after identifying the need in a survey, to help improve cloud efficiency on AWS, Google Cloud, and Microsoft Azure. This resource serves as a vital tool for organizations looking to maximize their cloud investments.
Below is a comprehensive outline of FinOps capabilities as defined by the FinOps Foundation.
Managing costs effectively becomes even more important as your business continues to rely on cloud services. Take a look at the 18 top FinOps tools that can help you stay on top of your cloud costs and run your operations more efficiently.
Sedai is an AI-driven platform focused on cloud optimization. It provides autonomous cost management around the clock, ensuring significant cost savings while maintaining 100% operational safety and zero incidents.
Sedai acts as an AI Copilot, continuously optimizing cloud environments without requiring manual intervention. This allows businesses to maximize their cloud investments securely and efficiently. It is specifically tailored for FinOps teams.
It autonomously manages and optimizes cloud environments across various platforms like AWS, Google Cloud, and Azure.
Sedai's key strength lies in its ability to analyze workloads continuously. It applies machine learning to uncover potential savings of 30-50% based on actual usage patterns, not just static rules.
Unique Feature: Sedai's distinctive features are Autonomous Optimization, Autonomous Remediation, a wide range of integrations to support engineering execution, Release Intelligence to show the projected cost impact of every new release, and Smart SLOs which help ensure FinOps changes do not negatively affect customer experience.
Key Customers: Sedai is trusted by organizations such as KnowBe4, Palo Alto Networks, Belcorp
Pricing: Sedai offers custom pricing based on your organization’s needs and cloud usage patterns with models for mid-sized companies and advanced deployment and security for enterprises.
Apptio Cloudability is a cloud financial management platform that enables IT, finance, and DevOps teams to optimize cloud spending for performance and efficiency. Cloudability supports strategic decision-making by correlating cloud expenses with business value, ensuring companies maximize their return on cloud investments.
Unique Feature: Predictive cost management, which uses machine learning to forecast future cloud expenses.
Key Customers: Companies like Atlassian, Autodesk, and Equifax use Apptio Cloudability.
Pricing: Apptio Cloudability operates on a custom pricing model, making it a robust solution for enterprises with complex financial structures.
CloudHealth by VMware, a platform for cloud cost management and optimization, was acquired by VMware in 2018. It specializes in providing multi-cloud FinOps reporting to optimize cloud expenses.
With a solid financial foundation and innovative technology, CloudHealth empowers enterprises to manage their cloud environments effectively.
Unique Feature: Policy-driven governance, which enables you to automate compliance and cost management across multi-cloud environments by setting customized policies.
Key Customers: Companies like Autodesk, Yelp, and Suncorp use CloudHealth to streamline their cost management across various cloud platforms.
Pricing: CloudHealth offers flexible pricing based on the size and complexity of your cloud environment, typically structured as a subscription model.
Kubecost provides real-time insights into your Kubernetes spending. Founded by former Google engineers, it is an open-source tool designed to give developers visibility into Kubernetes spending.
Based on the open-source tool OpenCost, Kubecost monitors and reduces costs while ensuring a balance between cost, performance, and reliability.
Unique Feature: Granular cost allocation for Kubernetes resources, which allows you to break down costs by namespace, deployment, or even individual pod.
Key Customers: Organizations like HBO and Under Armour leverage Kubecost to optimize their Kubernetes environments and control cloud spending effectively.
Pricing: Kubecost offers a pricing structure based on the number of Kubernetes nodes in your cluster, with different tiers depending on the scale and features required. This includes a free tier, a basic paid tier, and enterprise options for larger deployments with more advanced features.
Datadog is a comprehensive observability and security platform designed for cloud applications. This SaaS solution integrates and automates monitoring across infrastructure, application performance, log management, and real-user interactions.
It provides unified, real-time insights into your technology stack. Organizations of all sizes use Datadog to accelerate digital transformation, enhance team collaboration, secure applications, and track key business metrics.
Unique Feature: Unified observability platform, which seamlessly integrates metrics, logs, and traces into a single pane of glass.
Key Customers: Companies like Samsung, Comcast, and Peloton use Datadog to monitor and optimize their cloud infrastructure, ensuring high performance and cost efficiency.
Pricing: Datadog offers a pricing structure based on the number of hosts, containers, or custom metrics you monitor, with additional charges for advanced features such as log management, APM (Application Performance Monitoring), and security monitoring.
Insights from TrustRadius Reviews
Splunk, acquired by Cisco in 2024, specializes in monitoring and observability, offering solutions tailored to the needs of FinOps professionals. It helps organizations manage and optimize their financial operations by providing deep visibility into digital infrastructures.
Unique Feature: Real-time data analytics capability, which allows you to instantly visualize and act on data from multiple sources.
Key Customers: Organizations like Coca-Cola, Intuit, and Tesco rely on Splunk to analyze and optimize their cloud infrastructure, driving better performance and cost management.
Pricing: Splunk's pricing structure is based on data ingestion volume, measured in GB per day, with additional charges for features like ITSI (IT Service Intelligence), Enterprise Security, and machine learning capabilities.
Insights from TrustRadius Reviews
CloudZero is designed to help organizations allocate their cloud spending effectively and identify savings opportunities. With capabilities for data normalization, cost allocation, and Kubernetes visibility, CloudZero empowers engineering and finance teams to drive efficient cloud usage.
Unique Feature: Cost per feature tracking, which enables you to tie cloud expenses directly to individual features or products
Key Customers: Companies like Rapid7, Malwarebytes, and Drift use CloudZero to gain visibility into their cloud expenses and make informed decisions that align with their business objectives.
Pricing: Typically customized based on your specific needs, including the level of visibility, granularity of insights, and additional features like cost allocation and anomaly detection.
Insights from TrustRadius Reviews
Finout aims to revolutionize cloud cost management by creating an advanced platform designed to handle the complexities of modern cloud pricing. As usage-based pricing becomes more common and cloud environments grow increasingly intricate.
Finout offers powerful features like the MegaBill, which simplifies cost allocation and instant virtual tagging.
Unique Feature: Business context mapping, which allows you to connect cloud costs directly to specific business outcomes or units.
Key Customers: Companies like Rappi, Monday.com, and Singular use Finout to gain comprehensive visibility into their cloud spending and optimize their financial operations.
Pricing: Finout operates on a fixed pricing model, charging 1% of your cloud spend.
Insights from TrustRadius Reviews
Harness is dedicated to empowering software engineering teams worldwide to deliver code reliably, efficiently, and quickly. With over 700 employees and more than 500 customers, Harness has raised $425 million in funding from top-tier investors.
Harness aims to revolutionize software development by providing teams with the tools, knowledge, and resources needed to excel.
Unique Feature: Continuous efficiency monitoring, which not only optimizes cloud costs during deployment but also continuously assesses and adjusts resource usage in real-time.
Key Customers: Companies like McAfee, eBay, and Citrix use Harness to streamline their cloud cost management and enhance the efficiency of their cloud operations.
Pricing: Harness operates on a tiered pricing model, charging between 2.25% and 2.5% of your cloud spend.
Insights from TrustRadius Reviews
AWS Cost Management is a suite of tools designed to help organizations effectively monitor, manage, and optimize their AWS spending. For FinOps teams, it's an indispensable resource, providing the insights needed to drive financial accountability in cloud operations.
Here's a breakdown of the key AWS Cost Management tools.
Unique Feature: Forecasting capability, which uses historical data to predict future costs, allowing users to anticipate and manage their cloud expenses more effectively.
Key Customers: Organizations like Netflix, Airbnb, and Lyft use AWS Cost Explorer to monitor their AWS expenses and optimize their cloud spending strategies.
Pricing: Cost Explorer's pricing is generally included with your AWS account, meaning there is no additional cost to use it. But charges may apply if you use advanced features like Reserved Instance reporting or detailed custom reports.
Azure Cost Management Tools offer robust features to help you efficiently monitor, manage, and optimize your cloud spending within the Azure platform. Effective use of Azure cost management tools can help reduce cloud costs by 20-30% on average by identifying waste, rightsizing resources, and optimizing usage.
Unique Feature: Integration with Azure Advisor, which provides personalized, actionable recommendations for optimizing your cloud spend.
Key Customers: Organizations like Adobe, GE, and SAP rely on Azure Cost Management Tools to monitor and optimize cloud expenses across complex environments.
Pricing: Azure Cost Management Tools are included at no extra cost for Azure users, with advanced features available on a pay-as-you-go model.
Insights from TrustRadius Reviews
Google Cloud Cost Management is a suite of native tools offered by Google Cloud Platform (GCP) designed to help you manage and optimize your cloud costs. It is designed to help organizations monitor, control, and optimize their cloud costs effectively.
With a suite of tools for tracking spending trends and forecasts, businesses can achieve greater visibility and accountability in their cloud financial management.
These include:
Unique Feature: Granular cost visibility, which allows you to break down costs by project, service, or resource, giving you precise control and insight into where your cloud spend is concentrated.
Key Customers: Companies like PayPal, Twitter, and Etsy use Google Cloud Cost Management to keep their spending in check.
Pricing: The pricing structure is typically included with your Google Cloud usage, although certain advanced features or integrations may incur additional costs.
Insights from TrustRadius Reviews
Spot by NetApp empowers organizations to efficiently manage their cloud application infrastructure. Their solutions enable rapid and reliable deployment and operation of cloud applications, ensuring maximum efficiency through continuous optimization and automation.
With Spot, businesses can unlock the full potential of their cloud investments, benefiting from unmatched reliability, security, and operational insights.
Unique Feature: Intelligent workload automation, which dynamically reallocates resources in real-time to ensure optimal performance at the lowest possible cost.
Key Customers: Organizations like Ticketmaster, Duolingo, and Intel rely on Spot by NetApp to optimize their cloud infrastructure.
Pricing: It offers a flexible pricing structure based on a percentage of the cloud savings achieved through its platform, with no upfront costs. So, you only pay for the savings it delivers.
Insights from TrustRadius Reviews
Densify is tailored for Platform Owners, Site Reliability Engineers (SREs), and engineers responsible for maintaining reliable, high-performance, cost-effective infrastructure. They emphasize the needs of these teams to ensure optimal resource allocation and utilization.
Their patented machine learning (ML) analytics precisely identify the types and quantities of resources that workloads need, enabling intelligent, automated resource management.
Unique Feature: Proactive resource management that not only rightsizes cloud resources but also predicts future usage patterns.
Key Customers: Companies like Turner Broadcasting, ViacomCBS, and Kroger use Densify to optimize cloud and container environments.
Pricing: It offers a pricing structure based on the number of cloud resources being managed. This is with tailored pricing depending on the size of the environment and the level of optimization services required.
Anodot is an AI-driven cost management platform designed to optimize business operations and cloud spending. Founded by a team with extensive expertise in AI and DevOps, Anodot offers solutions that help organizations detect waste, track savings, and gain transparency on current and future costs.
The platform enables strategic financial planning and effective management of multi-cloud environments, Kubernetes pods, and SaaS tools across major cloud providers like AWS, GCP, and Azure.
Unique Feature: AI-driven anomaly detection, which automatically identifies unusual spending patterns in real-time across multi-cloud environments.
Key Customers: Companies like T-Mobile, Vimeo, and Pandora use Anodot to monitor their cloud expenses.
Pricing: Anodot for Cloud Cost Management offers a 30-day trial with unlimited access and support for $1. After the trial, the SaaS service requires a minimum flat fee of $45,000 annually for AWS spend up to $2.5M.
ProsperOps automates the management of Reserved Instances (RI) and Savings Plans for AWS. Their founders previously led the AWS managed services business at Rackspace, gaining valuable insights into the complexities of cloud rate optimization.
By blending finance and engineering expertise, they have developed a platform that simplifies cloud economic management.
Unique Feature: Real-time rate optimization, which continuously adjusts your AWS commitments to maximize savings. This ensures your cloud spending is always aligned with the most cost-effective options available, even as your usage patterns change.
Key Customers: Companies like Drift, Remitly, and Reltio rely on ProsperOps to optimize their AWS savings plans and reserved instances.
Pricing: ProsperOps charges $0.05 per dollar saved on compute costs and integrates exclusively with AWS, focusing on automated savings for RI and Savings Plans.
Insights from TrustRadius Reviews
nOps is an AI-powered FinOps platform designed to optimize cloud usage, commitments, and spending, helping organizations reduce their AWS costs by up to 50% automatically. They aim to create an effortless experience for teams to optimize cloud resources, allowing them to focus on innovation, growth, and enhancing customer experience.
Unique Feature: Focuses on automating AWS Well-Architected Framework reviews to optimize performance and spending.
Key Customers: Companies like Match Group, WorkReduce, and Onica use nOps to streamline their AWS operations, optimize costs, and ensure adherence to cloud best practices.
Pricing: Uses a pricing model based on a percentage of your total cloud spend, with costs scaling according to the level of cloud usage and management needs.
Cloud Custodian is an open-source tool that empowers users to manage and optimize cloud resources across AWS, Azure, and Google Cloud Platform (GCP) by enforcing real-time policies.It is an essential tool for FinOps teams, providing the ability to automate and enforce cost-saving policies across cloud environments
It enables users to filter, tag, and apply actions to their cloud infrastructure. This is using a simple YAML Domain Specific Language (DSL). The approach allows for better cloud environment governance, security, and rate optimization.
Unique Feature: Provides an open-source cloud governance framework that automates the enforcement of policies across cloud environments.
Key Customers: Companies like Capital One, Intuit, and FICO use Cloud Custodian to automate cloud governance.
Pricing: It's freely available and allows you to define and manage cloud governance policies across multiple cloud environments.
According to a recent report, 82% of organizations find cloud spending to be their main challenge. This significant pain point highlights the critical need for robust platforms in 2024.
Below is a comparison table of the top FinOps platforms in 2024.
With companies averaging $44 million in annual cloud spending and some reporting upwards of $1 billion, managing cloud costs effectively is more critical than ever.
As your cloud usage grows, you will need more than essential cloud budgeting tools. They need a robust approach like FinOps to spend every dollar wisely.
With that in mind, let's examine the top priorities in FinOps as revealed by the 2024 State of FinOpsRate Optimization report. The following priorities are ranked based on the percentage of respondents who identified them as important.
In 2024, FinOps platforms are like the compass guiding your cloud strategy, steering you toward financial efficiency. They seamlessly integrate with your operations, offering the governance and security you need to manage cloud investments wisely and helping you scale confidently in an ever-changing industry.
Unlock serious savings without lifting a finger. Let Sedai’s autonomous cloud platform cut your cloud costs by 30-50% while your engineering team focuses on innovation. Ready to see results, not just reports? Book your demo!
September 9, 2024
November 20, 2024
Did you know that over 60% of companies have already embraced FinOps to control their cloud costs? This isn't just a trend; it's a game-changer in managing cloud finances. As cloud adoption grows, so does the need for effective cost management, and that's where FinOps comes in. By aligning finance, technology, and business teams, FinOps ensures every cloud dollar is well-spent, driving real value.
The impact is significant—companies that master FinOps can reduce their cloud costs by 20% to 30%. It's not just about saving money; it's about making smarter, more strategic investments in your cloud infrastructure.
In this blog, you’ll learn about the essential FinOps platforms in 2024 and why they're becoming a must-have for modern businesses.
A FinOps tool is a specialized software designed to optimize and manage your cloud financial operations, integrating financial accountability directly into the cloud management process.
FinOps platforms provide real-time insights into cloud spending, automate cost-saving measures, and facilitate collaboration between finance, engineering, and operations teams to ensure efficient use of cloud resources. Using data analytics, they help you make informed decisions about cloud investments, driving cost efficiency and performance.
The FinOps lifecycle, as outlined by the FinOps Foundation, consists of three ongoing components: Inform, Optimize, and Operate.
In 2023, the FinOps community created a library of optimization opportunities, after identifying the need in a survey, to help improve cloud efficiency on AWS, Google Cloud, and Microsoft Azure. This resource serves as a vital tool for organizations looking to maximize their cloud investments.
Below is a comprehensive outline of FinOps capabilities as defined by the FinOps Foundation.
Managing costs effectively becomes even more important as your business continues to rely on cloud services. Take a look at the 18 top FinOps tools that can help you stay on top of your cloud costs and run your operations more efficiently.
Sedai is an AI-driven platform focused on cloud optimization. It provides autonomous cost management around the clock, ensuring significant cost savings while maintaining 100% operational safety and zero incidents.
Sedai acts as an AI Copilot, continuously optimizing cloud environments without requiring manual intervention. This allows businesses to maximize their cloud investments securely and efficiently. It is specifically tailored for FinOps teams.
It autonomously manages and optimizes cloud environments across various platforms like AWS, Google Cloud, and Azure.
Sedai's key strength lies in its ability to analyze workloads continuously. It applies machine learning to uncover potential savings of 30-50% based on actual usage patterns, not just static rules.
Unique Feature: Sedai's distinctive features are Autonomous Optimization, Autonomous Remediation, a wide range of integrations to support engineering execution, Release Intelligence to show the projected cost impact of every new release, and Smart SLOs which help ensure FinOps changes do not negatively affect customer experience.
Key Customers: Sedai is trusted by organizations such as KnowBe4, Palo Alto Networks, Belcorp
Pricing: Sedai offers custom pricing based on your organization’s needs and cloud usage patterns with models for mid-sized companies and advanced deployment and security for enterprises.
Apptio Cloudability is a cloud financial management platform that enables IT, finance, and DevOps teams to optimize cloud spending for performance and efficiency. Cloudability supports strategic decision-making by correlating cloud expenses with business value, ensuring companies maximize their return on cloud investments.
Unique Feature: Predictive cost management, which uses machine learning to forecast future cloud expenses.
Key Customers: Companies like Atlassian, Autodesk, and Equifax use Apptio Cloudability.
Pricing: Apptio Cloudability operates on a custom pricing model, making it a robust solution for enterprises with complex financial structures.
CloudHealth by VMware, a platform for cloud cost management and optimization, was acquired by VMware in 2018. It specializes in providing multi-cloud FinOps reporting to optimize cloud expenses.
With a solid financial foundation and innovative technology, CloudHealth empowers enterprises to manage their cloud environments effectively.
Unique Feature: Policy-driven governance, which enables you to automate compliance and cost management across multi-cloud environments by setting customized policies.
Key Customers: Companies like Autodesk, Yelp, and Suncorp use CloudHealth to streamline their cost management across various cloud platforms.
Pricing: CloudHealth offers flexible pricing based on the size and complexity of your cloud environment, typically structured as a subscription model.
Kubecost provides real-time insights into your Kubernetes spending. Founded by former Google engineers, it is an open-source tool designed to give developers visibility into Kubernetes spending.
Based on the open-source tool OpenCost, Kubecost monitors and reduces costs while ensuring a balance between cost, performance, and reliability.
Unique Feature: Granular cost allocation for Kubernetes resources, which allows you to break down costs by namespace, deployment, or even individual pod.
Key Customers: Organizations like HBO and Under Armour leverage Kubecost to optimize their Kubernetes environments and control cloud spending effectively.
Pricing: Kubecost offers a pricing structure based on the number of Kubernetes nodes in your cluster, with different tiers depending on the scale and features required. This includes a free tier, a basic paid tier, and enterprise options for larger deployments with more advanced features.
Datadog is a comprehensive observability and security platform designed for cloud applications. This SaaS solution integrates and automates monitoring across infrastructure, application performance, log management, and real-user interactions.
It provides unified, real-time insights into your technology stack. Organizations of all sizes use Datadog to accelerate digital transformation, enhance team collaboration, secure applications, and track key business metrics.
Unique Feature: Unified observability platform, which seamlessly integrates metrics, logs, and traces into a single pane of glass.
Key Customers: Companies like Samsung, Comcast, and Peloton use Datadog to monitor and optimize their cloud infrastructure, ensuring high performance and cost efficiency.
Pricing: Datadog offers a pricing structure based on the number of hosts, containers, or custom metrics you monitor, with additional charges for advanced features such as log management, APM (Application Performance Monitoring), and security monitoring.
Insights from TrustRadius Reviews
Splunk, acquired by Cisco in 2024, specializes in monitoring and observability, offering solutions tailored to the needs of FinOps professionals. It helps organizations manage and optimize their financial operations by providing deep visibility into digital infrastructures.
Unique Feature: Real-time data analytics capability, which allows you to instantly visualize and act on data from multiple sources.
Key Customers: Organizations like Coca-Cola, Intuit, and Tesco rely on Splunk to analyze and optimize their cloud infrastructure, driving better performance and cost management.
Pricing: Splunk's pricing structure is based on data ingestion volume, measured in GB per day, with additional charges for features like ITSI (IT Service Intelligence), Enterprise Security, and machine learning capabilities.
Insights from TrustRadius Reviews
CloudZero is designed to help organizations allocate their cloud spending effectively and identify savings opportunities. With capabilities for data normalization, cost allocation, and Kubernetes visibility, CloudZero empowers engineering and finance teams to drive efficient cloud usage.
Unique Feature: Cost per feature tracking, which enables you to tie cloud expenses directly to individual features or products
Key Customers: Companies like Rapid7, Malwarebytes, and Drift use CloudZero to gain visibility into their cloud expenses and make informed decisions that align with their business objectives.
Pricing: Typically customized based on your specific needs, including the level of visibility, granularity of insights, and additional features like cost allocation and anomaly detection.
Insights from TrustRadius Reviews
Finout aims to revolutionize cloud cost management by creating an advanced platform designed to handle the complexities of modern cloud pricing. As usage-based pricing becomes more common and cloud environments grow increasingly intricate.
Finout offers powerful features like the MegaBill, which simplifies cost allocation and instant virtual tagging.
Unique Feature: Business context mapping, which allows you to connect cloud costs directly to specific business outcomes or units.
Key Customers: Companies like Rappi, Monday.com, and Singular use Finout to gain comprehensive visibility into their cloud spending and optimize their financial operations.
Pricing: Finout operates on a fixed pricing model, charging 1% of your cloud spend.
Insights from TrustRadius Reviews
Harness is dedicated to empowering software engineering teams worldwide to deliver code reliably, efficiently, and quickly. With over 700 employees and more than 500 customers, Harness has raised $425 million in funding from top-tier investors.
Harness aims to revolutionize software development by providing teams with the tools, knowledge, and resources needed to excel.
Unique Feature: Continuous efficiency monitoring, which not only optimizes cloud costs during deployment but also continuously assesses and adjusts resource usage in real-time.
Key Customers: Companies like McAfee, eBay, and Citrix use Harness to streamline their cloud cost management and enhance the efficiency of their cloud operations.
Pricing: Harness operates on a tiered pricing model, charging between 2.25% and 2.5% of your cloud spend.
Insights from TrustRadius Reviews
AWS Cost Management is a suite of tools designed to help organizations effectively monitor, manage, and optimize their AWS spending. For FinOps teams, it's an indispensable resource, providing the insights needed to drive financial accountability in cloud operations.
Here's a breakdown of the key AWS Cost Management tools.
Unique Feature: Forecasting capability, which uses historical data to predict future costs, allowing users to anticipate and manage their cloud expenses more effectively.
Key Customers: Organizations like Netflix, Airbnb, and Lyft use AWS Cost Explorer to monitor their AWS expenses and optimize their cloud spending strategies.
Pricing: Cost Explorer's pricing is generally included with your AWS account, meaning there is no additional cost to use it. But charges may apply if you use advanced features like Reserved Instance reporting or detailed custom reports.
Azure Cost Management Tools offer robust features to help you efficiently monitor, manage, and optimize your cloud spending within the Azure platform. Effective use of Azure cost management tools can help reduce cloud costs by 20-30% on average by identifying waste, rightsizing resources, and optimizing usage.
Unique Feature: Integration with Azure Advisor, which provides personalized, actionable recommendations for optimizing your cloud spend.
Key Customers: Organizations like Adobe, GE, and SAP rely on Azure Cost Management Tools to monitor and optimize cloud expenses across complex environments.
Pricing: Azure Cost Management Tools are included at no extra cost for Azure users, with advanced features available on a pay-as-you-go model.
Insights from TrustRadius Reviews
Google Cloud Cost Management is a suite of native tools offered by Google Cloud Platform (GCP) designed to help you manage and optimize your cloud costs. It is designed to help organizations monitor, control, and optimize their cloud costs effectively.
With a suite of tools for tracking spending trends and forecasts, businesses can achieve greater visibility and accountability in their cloud financial management.
These include:
Unique Feature: Granular cost visibility, which allows you to break down costs by project, service, or resource, giving you precise control and insight into where your cloud spend is concentrated.
Key Customers: Companies like PayPal, Twitter, and Etsy use Google Cloud Cost Management to keep their spending in check.
Pricing: The pricing structure is typically included with your Google Cloud usage, although certain advanced features or integrations may incur additional costs.
Insights from TrustRadius Reviews
Spot by NetApp empowers organizations to efficiently manage their cloud application infrastructure. Their solutions enable rapid and reliable deployment and operation of cloud applications, ensuring maximum efficiency through continuous optimization and automation.
With Spot, businesses can unlock the full potential of their cloud investments, benefiting from unmatched reliability, security, and operational insights.
Unique Feature: Intelligent workload automation, which dynamically reallocates resources in real-time to ensure optimal performance at the lowest possible cost.
Key Customers: Organizations like Ticketmaster, Duolingo, and Intel rely on Spot by NetApp to optimize their cloud infrastructure.
Pricing: It offers a flexible pricing structure based on a percentage of the cloud savings achieved through its platform, with no upfront costs. So, you only pay for the savings it delivers.
Insights from TrustRadius Reviews
Densify is tailored for Platform Owners, Site Reliability Engineers (SREs), and engineers responsible for maintaining reliable, high-performance, cost-effective infrastructure. They emphasize the needs of these teams to ensure optimal resource allocation and utilization.
Their patented machine learning (ML) analytics precisely identify the types and quantities of resources that workloads need, enabling intelligent, automated resource management.
Unique Feature: Proactive resource management that not only rightsizes cloud resources but also predicts future usage patterns.
Key Customers: Companies like Turner Broadcasting, ViacomCBS, and Kroger use Densify to optimize cloud and container environments.
Pricing: It offers a pricing structure based on the number of cloud resources being managed. This is with tailored pricing depending on the size of the environment and the level of optimization services required.
Anodot is an AI-driven cost management platform designed to optimize business operations and cloud spending. Founded by a team with extensive expertise in AI and DevOps, Anodot offers solutions that help organizations detect waste, track savings, and gain transparency on current and future costs.
The platform enables strategic financial planning and effective management of multi-cloud environments, Kubernetes pods, and SaaS tools across major cloud providers like AWS, GCP, and Azure.
Unique Feature: AI-driven anomaly detection, which automatically identifies unusual spending patterns in real-time across multi-cloud environments.
Key Customers: Companies like T-Mobile, Vimeo, and Pandora use Anodot to monitor their cloud expenses.
Pricing: Anodot for Cloud Cost Management offers a 30-day trial with unlimited access and support for $1. After the trial, the SaaS service requires a minimum flat fee of $45,000 annually for AWS spend up to $2.5M.
ProsperOps automates the management of Reserved Instances (RI) and Savings Plans for AWS. Their founders previously led the AWS managed services business at Rackspace, gaining valuable insights into the complexities of cloud rate optimization.
By blending finance and engineering expertise, they have developed a platform that simplifies cloud economic management.
Unique Feature: Real-time rate optimization, which continuously adjusts your AWS commitments to maximize savings. This ensures your cloud spending is always aligned with the most cost-effective options available, even as your usage patterns change.
Key Customers: Companies like Drift, Remitly, and Reltio rely on ProsperOps to optimize their AWS savings plans and reserved instances.
Pricing: ProsperOps charges $0.05 per dollar saved on compute costs and integrates exclusively with AWS, focusing on automated savings for RI and Savings Plans.
Insights from TrustRadius Reviews
nOps is an AI-powered FinOps platform designed to optimize cloud usage, commitments, and spending, helping organizations reduce their AWS costs by up to 50% automatically. They aim to create an effortless experience for teams to optimize cloud resources, allowing them to focus on innovation, growth, and enhancing customer experience.
Unique Feature: Focuses on automating AWS Well-Architected Framework reviews to optimize performance and spending.
Key Customers: Companies like Match Group, WorkReduce, and Onica use nOps to streamline their AWS operations, optimize costs, and ensure adherence to cloud best practices.
Pricing: Uses a pricing model based on a percentage of your total cloud spend, with costs scaling according to the level of cloud usage and management needs.
Cloud Custodian is an open-source tool that empowers users to manage and optimize cloud resources across AWS, Azure, and Google Cloud Platform (GCP) by enforcing real-time policies.It is an essential tool for FinOps teams, providing the ability to automate and enforce cost-saving policies across cloud environments
It enables users to filter, tag, and apply actions to their cloud infrastructure. This is using a simple YAML Domain Specific Language (DSL). The approach allows for better cloud environment governance, security, and rate optimization.
Unique Feature: Provides an open-source cloud governance framework that automates the enforcement of policies across cloud environments.
Key Customers: Companies like Capital One, Intuit, and FICO use Cloud Custodian to automate cloud governance.
Pricing: It's freely available and allows you to define and manage cloud governance policies across multiple cloud environments.
According to a recent report, 82% of organizations find cloud spending to be their main challenge. This significant pain point highlights the critical need for robust platforms in 2024.
Below is a comparison table of the top FinOps platforms in 2024.
With companies averaging $44 million in annual cloud spending and some reporting upwards of $1 billion, managing cloud costs effectively is more critical than ever.
As your cloud usage grows, you will need more than essential cloud budgeting tools. They need a robust approach like FinOps to spend every dollar wisely.
With that in mind, let's examine the top priorities in FinOps as revealed by the 2024 State of FinOpsRate Optimization report. The following priorities are ranked based on the percentage of respondents who identified them as important.
In 2024, FinOps platforms are like the compass guiding your cloud strategy, steering you toward financial efficiency. They seamlessly integrate with your operations, offering the governance and security you need to manage cloud investments wisely and helping you scale confidently in an ever-changing industry.
Unlock serious savings without lifting a finger. Let Sedai’s autonomous cloud platform cut your cloud costs by 30-50% while your engineering team focuses on innovation. Ready to see results, not just reports? Book your demo!
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