DigitalEx, the leading cloud cost management SaaS startup, announced the launch of its flagship technology CloudCompare, an AI-driven platform designed to measure relative cost-efficiency per Cloud. CloudCompare provides insight for companies looking to manage costs associated with cloud infrastructure. The platform is designed to profile all workloads by CPU/Memory/Network and can then simulate what those workloads would cost to run on other clouds. The result is that enterprise IT can then either a) move workloads to the optimal cloud to save money or b) have hard data to negotiate better rates with their hyper-scalar partners.
CloudCompare operates by existing on top of a company’s current cloud/clouds and looking at the cost associated with each individual service being used. CIOs have the ability to move workloads to more efficient clouds, create profile workloads by CPU, memory and network to understand where they run best or use DigitalEx to negotiate better rates with current IaaS (Infrastructure as a Service) providers with the data collected.According to Gartner, public cloud spend is expected to exceed $590B by the end of 2023.Cloud services are among the highest expenses, only second to payroll and labor expenses. By utilizing CloudCompare, businesses can save an average of 15-40% on the cost associated with cloud spend within days of implementing.
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“We’re excited to be including CloudCompare to DigitalEx‘s existing lineup. We understand that many businesses cannot operate without the aid of cloud services; they should be able to select the best service at the right price for their operations,” said DigitalEx CEO Sundeep Goel. “Many service providers will tell you that they are the right fit for the job but there’s no way for companies to tell before integrating that cloud. Our goal is to empower CIOs and procurement to make informed decisions on their company’s needs when it comes to cloud services.”
According to FinOps Foundation, up to 89% of enterprise organizations deploy a multi-cloud strategy and up to 78% of enterprise IT orgs deploy a hybrid-cloud strategy.The reality is that most companies are running multiple clouds to meet their daily needs. Along their lifespan, there is a strong possibility they could acquire new business that runs on a separate cloud or include clouds that may be public or private. CloudCompare can pull data from all services currently in use so businesses can successfully integrate new clients into their operations.
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