To help organisations cope with the challenges related to the growing expenses on cloud computing, Vertice launched a new Cloud Cost Optimization platform. The purpose behind its launch is to enable companies to lower their cloud spending by up to as much as 25%. Vertice designed the platform to solve serious problems faced by finance and technology leaders trying to reduce their cloud costs.
According to the data from Vertice, the optimisation platform for SaaS and cloud costs, 55% of finance and tech leaders admit that there is a transparency and knowledge gap that threatens the potential of cloud investment and could impede innovation.
Also, 25% of leaders state that finance staff want to cut cloud spending but they do not have the technical or engineering resources to give this priority. Cloud costs rise, on average, by 35% year on year. For this reason Vertice conducted a survey among 600 finance and technology leaders in the US and the UK. The survey has shown that reducing the expenses on cloud computing was the highest priority for finance leaders, with 78% listing it as one of the top three priorities in terms of cost saving, and 33.5% indicating it as the priority.
Notably, 55% of finance leaders point to a lack of transparency on the part of technology leaders and 44% claim that they cannot get insight into the cloud costs. What is more, relationships with cloud hosting providers are highlighted as the principal threat to cost effectiveness and 39% of finance leaders believe that it is difficult to negotiate the costs because tech staff have their own relationships with cloud service providers. What is disquieting is that 55% of tech leaders say that non-tech personnel lack knowledge or experience to understand cloud infrastructure configurations. 25% of heads of tech divisions state that finance staff want to reduce cloud spending but lack the technical or engineering resources to focus on cloud optimisation.
More details can be found here:
https://thefintechtimes.com/vertice-survey-reveals-the-challenges-of-growing-cloud-costs-and-launches-optimisation-offering/