Best Cloud Cost Optimization Tools | Features and Costs

Jason Yeager
December 5, 2022
5 min read

Managing cloud and cloud cost optimization is nearly impossible without an adequate software solution, because public cloud providers often bury the crucial information behind the walls of text on your billing.

Luckily, the right cost optimization tools can reveal cost optimization opportunities, help you manage resource and cost allocation, and ultimately save your organization money.

In this article, we'll discuss some of the best cloud cost optimization tools so you can make the right choice for your organization.

What is Cloud Cost Optimization?

The goal of cloud cost management is to reduce cloud computing resource waste by carefully selecting, allocating, and scaling the resources your business requires for numerous cloud features. This leads to cost savings.

Why Should You Care About Cloud Cost Optimization?

A cloud optimization strategy can ensure that your cloud migration pays off both immediately and in the long run.

For businesses that wish to reap the full benefits of cost-effective cloud computing, including lower cloud costs, increased engineer productivity, and a shift from on-premises architecture to cloud infrastructure, cloud cost management solutions are crucial.

The Best Tools For Cloud Cost Optimization

Depending on the scale and complexity of your cloud usage, you'll want to familiarize yourself with some of the best cloud cost management tools available to minimize cloud spend and maximize the use of your cloud resources.

Densify

Densify uses machine learning to assist you in taking charge of cost minimization by identifying risks, monitoring and optimizing your CPU usage, and optimizing cloud resources across a wide variety of cloud environments and cloud providers. Densify performs admirably whether running on a multi-cloud, hybrid-cloud, or single-cloud architecture.

You can find a number of cost-saving possibilities and strategies for reducing your cloud computing costs. To name one, if you are using an inefficient family of instances or are over-allocating resources to instances, Densify can notify you.

Amazon CloudWatch

Amazon CloudWatch is Amazon Web Services’ (AWS) native tool for cloud cost management. It offers thorough AWS cost reporting since it collects data and logs from over 70 AWS applications, services, and resources in near-real-time. It then shows them all on a single dashboard for easier computation.

Other features include automating actions on ECS, EKS, and Kubernetes clusters in response to cost changes, defining budgets, setting alarms for cost anomalies, and gathering metrics and custom data for your AWS Cloud application.

Furthermore, you can combine Amazon CloudWatch with other native AWS cost management tools like AWS Cost Explorer, AWS Cost and Usage Report, and AWS Budgets.

CloudZero

CloudZero breaks down prices in a way that enables you to view the where, when, and how of your cloud spend — all without laborious manual tagging — instead of providing rows and columns of absolute cloud costs that offer little to no business insight.

This intelligent cloud management platform links your engineers with financial management, thus encouraging them to be more cost-conscious.

Tenacity

Tenacity is a straightforward cloud security and cost management platform which provides a consolidated view of all cloud accounts, subscriptions, and region's assets and services. It notifies you of any cloud misconfiguration and provides specific cost analysis and savings plans.

From cost advice and forecasts to manifest visualization, achieve cross-provider and cross-account oversight. Tenacity protects every company's budget and security profile without limiting growth.

Try Tenacity's cloud cost optimization tool and get started in five minutes or less.

CloudCheckr

CloudCheckr is both a cloud security and cloud optimization platform. In terms of financial tracking measures, the platform is on par with other cloud cost optimization products. But the security component for public cloud platforms is where it differs from its competition.

CloudCheckr can also be useful if you want to integrate cloud billing data from both public and private clouds without utilizing labor-intensive techniques like manual spreadsheets and custom scripts.

The completely automated CloudCheckr Finance Manager solution will free up your engineers to develop and provide your finance teams with cost data that will help the finance team optimize costs and enhance cloud cost planning and optimization tactics.

Harness

Harness Cloud Cost Management is a system designed for modern cloud-based software enterprises. Engineering, finance, and any other involved team can analyze, manage, and optimize cloud spending both independently and together. Additionally, they can also figure out where the charges are coming from.

Harness Cloud Cost Management delivers some information that other solutions do not, allowing teams to drill down to the most minute expenses and determine where the money is going. It's valuable because of its proactive approach to cost-cutting, accurate forecasting, and anomaly detection.

GCP Billing

Google has once again outdone itself with its GCP, or Google Cloud Platform. This cloud platform includes some functional add-ons in addition to its well-designed and user-friendly UI. One of these plug-ins is GCP Billing.

GCP billing has the ability to automatically send out periodic updates and notifications on spending. Your team may receive budget warnings and spending analyses from it as well. This is a fantastic financing solution for businesses that already use Google Cloud.

The platform is exceptionally good for small-scale businesses and provides various recommendations on savings opportunities based on your usage data.

The best part about it is that it's entirely free for GCP customers.

Azure Cost Management and Billing

Each of the public cloud service providers, like AWS and GCP, have their own high-level built-in console implemented within their cloud platform, and Microsoft Azure is no different. Azure Cost Management and Billing assists you in understanding your Azure cloud bill by providing your teams with a high-level overview of their cloud spending.

This platform is incredibly flexible and includes several integrations. However, just like the other two, it also doesn't provide you with detailed insight into costs within your cloud. Azure Cost Management and Billing should work well for you if your small business requires just a high-level overview of costs.

CloudHealth by VMWare

The first significant tool of its kind, Cloudhealth enables users to gain insight into their spending, optimize it, and develop policies that satisfy compliance and financial management requirements.

To boost cloud cost accountability and to identify the cost centers that are increasing your cloud costs, use the show-back and chargeback features of CloudHealth. Then, keep track of your cloud expenses over time and utilize that information to anticipate future cloud costs.

Summary

The best option for cloud cost optimization ultimately depends on your business requirements. Tools that make it simple to involve teams at any company level are becoming increasingly important as businesses develop their cloud management strategies.

Tenacity can provide you with total insight into your cloud expenditure, allowing you to know where your spending goes, how it is spent, and why it is spent that way.

Try Tenacity's cloud cost optimization tool and get started in five minutes or less.

Author
Jason Yeager
Category
Learning
Published
December 5, 2022

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