AWS Cloud Cost Management Tools: What You Need to Know

If your company uses AWS infrastructure to hostyour enterprise’s production application, you know how many bills it can run upevery month. Initial AWS implementation results in inefficiency and waste,which can be controlled through disciplined cost management. As such, companiesneed automated and well-built cloud cost management tools.

Being exclusive, AWS won’t meet the expectations of businesses leveraging multiple cloud providers. These companies must have third-party AWS cloud cost management tools and understand their features.

Know& Evaluate Your Needs

If you go on board with a cloud cost managementproject, engross yourself in a strategic review before installing the software.You must understand your firm’s needs and shortages and its existing costmanagement methods.

Mainly, IT professionals jump right intofeature and spec comparisons before knowing what to expect from their AWS cloudcost management tools. So, when commencing the evaluation, focus on:

  • Estimated size of yourAWS development.
  • A comprehensiveapproach to vendors.
  • The multi-cloudstrategy of your firm.
  • Subjection to standardsand regulations.

Multi-Cloud Strategy of Your IT Firm

Nowadays, almost every IT firm leverages ahybrid cloud environment. These firms need to use cloud services to booston-site virtual infrastructure. And if you aim to get the most out of AWS as apublic cloud provider, the simple selection of AWS cloud cost management toolswould be enough.

Although these tools won’t properly merge andintegrate with your current automation software, your firm can deal with theleast possible expenses of operating two series of cost-tracking tools.However, if they choose a multi-cloud strategy, things will get more complex.

It requires mending or integrating cloudservices from AWS and other public cloud providers into a compatible, diverseIT infrastructure. You should also know that AWS cloud cost management toolsnever evaluate any other cloud infrastructure, so if you plan to use Google orAzure, it will require a cloud-agnostic, third-party tool.

So, before diving into the product evaluations,ask the following questions:

  • Are the followingservices going to be peripheral or identical to AWS?
  • To what extent willyour IT firm use cloud services?
  • Is there any need tointegrate these services with an on-site infrastructure management tool, or canyour firm manage it individually?

Deployment Size & Monthly AWS Expenditure

If the AWS expenditure is greater, there’s agreater chance that a third-party tool with modern, cost-effective featureswill remunerate. On the other hand, businesses that leverage AWS mainly fordisaster recovery or as a testing platform cannot rationalize the expenses ofseparate AWS cost management tools.

So before your firm determines whether to buy athird-party cost management tool, assess and decide whether native AWS toolsare ideal or not. Take an estimate of AWS over expenses (30%:40% ratio) andconduct an ROI analysis. And after getting thefigure, see if it’s sufficient to account for a more modern tool.

Moreover, if the balance capsizes thethird-party tools, go for a more in-depth ROI analysis, considering it to be apart of the last selection process.

Of course, compliance and regulatory needs,fundamental cost management features, and vendor preferences should also be consideredwhen buying third-party AWS cost management tools. Butafter doing everything, go for the last evaluation of the product’sprovisioning model. You may get two options: SaaS service and self-managedsoftware, and it’s recommended to go with the latter as they ensure betterconfiguration control at a lesser expense for larger AWS fleets.

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