The capability to forecast, monitor, report and respond enables enterprises to maximize the business value of their cloud infrastructure
CoreStack, a global multi-cloud governance provider that empowers enterprises to unleash the power of the cloud by enabling continuous and autonomous cloud governance at scale, today unveiled the enriched Multi-Cloud Budget Management capability in its FinOps module to help enterprises maximize the business value of their cloud infrastructure. This capability allows enterprises to accurately forecast and manage cloud spends, even for workloads that spread across multiple clouds, ultimately enabling them to enhance the bottom line in their digital transformation journey.
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CoreStack FinOps offers granular visibility into costs and improves financial predictability. At a high level, CoreStack’s Multi-Cloud Budget Management feature consists of six components:
- Forecast: Provides an efficient forecasting model that builds predictive models based on the historical billing data, patterns, and seasonality
- Configure: Enables customers to configure a reasonable budget for their workloads, based on historic cloud spend trends
- Monitor: Offers an ability to set, reset and track budgets periodically at multiple levels of granularity and scope
- Report: Enables intelligent reporting to continuously report actual costs vs. forecasted data
- Insights: Surfaces actionable insights to configure budgets or take actions to stay within the budget
- Respond: Generates an automated response through passive and proactive actions, on demand or through ITSM tools, when budgets are at risk
Using the Budget Management feature, enterprises can set, monitor, and remediate budgets at an organization, business unit or cost center level with complete control. Users can define granular thresholds for each budget and continuously track spending activity against these thresholds. When a threshold is violated, pre-set remediation actions are invoked, such as alerts, notifications and can even prevent further violation.
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“The enhanced Multi-Cloud Budget Management capability in CoreStack’s FinOps module helps enterprises strengthen financial decision-making and improve financial predictability, while giving them the peace of mind that their cloud expenses are being closely monitored at every possible level, whether for multiple accounts in a single cloud, or in a multi-cloud environment,” said Krishna Kummar Aadiseshon, Product Manager at CoreStack. “What sets us apart is the breadth and depth of our product, which goes beyond just providing cost and budget visibility, to also showing its impact across FinOps, SecOps, and CloudOps.”
CoreStack FinOps solution helps provide multiple value-added capabilities:
- Extended aggregation capability, allowing multi-dimension cost visibility
- Tight bi-directional integration with ITSM and monitoring tools such as ServiceNow and Jira, enabling cost threshold breach notification, budget notification and cost anomaly notification
- Customizability for multi-dimension reports, such as daily, monthly cloud spend, usage, inventory, tags, region, resource type, consolidated charges report and custom chargebacks
- Right-sizing recommendations for workloads to drive cost improvements and savings
- Flexibility and dynamic future-ready roadmap catered to customer needs
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