The single largest expense in an enterprise's public cloud environment are Compute resources, whether AWS, Azure or Google Cloud, typically contributing 2/3rds of the total cloud expense. Cloud Providers know this and have tools to reduce your compute spend, along with contract vehicles, called committed use discounts designed to lower the unit cost of compute usage.
All three clouds offer committed use discounts (CUD) for long term reservations of cloud computing resources, with some unique elements to each cloud. A CUD allows an enterprise to commit to 1 year or 3 year terms with increasing discount level for longer term commitments. This can reduce the total cost of a compute resource from 35-65%.
Let's explore the options:
Those savings do come at a cost, a long term commitment can lock an enterprise into a resource that become irrelevant or that eliminates the agility that drew enterprises to cloud in the first place.
CloudLogic has found another way to achieve flexibility while achieving maximum discounts, through a Reserved Instance marketplace. An RI marketplace is a place where different companies and consumers of cloud computing can buy or sell Standard (non-convertible) RIs as their computing requirements change. Savvy enterprises can achieve committed use discounts similar to a 3 year Standard RI, with shorter commitments than 36 months. Maximize unit cost discounts, while enabling the ability to adapt and evolve.
2021 is an opportunity to help our clients achieve maximum savings, so be sure to take advantage of our promotion ending February 28th. Sign up for a RI Marketplace analysis of your existing contracts and reserved instance utilization for only $995, a savings of over 80% our typical cost. Using our machine learning based analytics, along with an analysis of current consumption, CloudLogic can help you reduce your Cloud Computing costs by 30-50%!
