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Simoda – Navigating the Public Cloud Cost Surge: Optimisation Strategies Roundtable (UK Tech Week)
April 25 @ 4:00 pm – 5:30 pm
Join us for an insightful roundtable discussion hosted by the Cloud Solutions team at Simoda, where we delve into the real-world experiences of businesses facing the rapid growth of public cloud costs and look at ways business can optimise cloud environments. This roundtable will feature a series of customer stories highlighting the challenges and triumphs in mitigating financial risks associated with cloud services. The aim is for the roundtable to be an open discussion opportunity to align best practice ideas and solutions.
Background: As per industry forecasts by Gartner and IDC, the global end-user spending on public cloud services is on an upward trajectory, with a 20.7% increase in 2023, amounting to $591.8 billion. The trend is expected to continue, with spending projected to reach $678.8 billion in 2024 and $1.35 trillion by 2027. The shift towards cloud technologies is becoming more pronounced, with over half of enterprise IT spending in key market segments predicted to move to the cloud by 2025.
Key Discussion Points:
Digital Transformation: How organisations leverage cloud services to enhance agility and competitiveness.
Emerging Technologies: The impact of generative AI.
Cost Efficiency: Balancing cost-effective cloud solutions with upfront capital investment.
Flexibility and Scalability: Adapting to business demands through scalable cloud resources.
IT Modernisation: Transitioning operations to the cloud to optimise costs and minimise risks.
Cloud Ubiquity: The widespread adoption of cloud services across various regions and industries.
Customer Stories: Despite the benefits, a staggering 94% of enterprises are overspending on public cloud services by an average of 43%.
Our roundtable will share firsthand accounts of how companies have implemented effective cost management strategies, such as FinOps practices, right-sizing infrastructure, and optimising multi-cloud strategies to control their cloud spending.
Challenges Addressed:
Lack of Governance: Tackling uncontrolled costs due to unclear cloud spending.
Unanticipated Usage: Managing budget overruns from unexpected cloud project success.
No Commitments: Leveraging usage commitments to secure discounts.
Dev/Test Waste: Reducing expenses from over-provisioning and idle resources.
Too Much Production Headroom: Avoiding oversizing and inflated costs.
Effective Management Solutions:
Cloud Cost Management Tools: Utilising tools for detailed cloud usage and expense insights.
Tagging and Resource Management: Implementing tagging policies for cost allocation and tracking.
Budgets and Alerts: Establishing budgets and alerts for proactive spending management.
Conclusion: This roundtable aims to equip participants with the knowledge and strategies to effectively track and manage their cloud expenses, ensuring that their journey to the cloud is both cost-effective and aligned with their business objectives.
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