CloudZero Announces Powerful And Flexible Approach To Shared Cost Allocation
Solves top FinOps challenge and enables even more accurate attribution of cloud spend to business metrics, such as products, features, and customers
CloudZero, the leading cloud cost intelligence company, announced a new, unique approach to allocating shared cloud cost, furthering their already robust capabilities for accurately mapping cloud spend to business metrics. This functionality adds an additional layer of precision and flexibility to CloudZero Dimensions, a proprietary, code-driven approach to allocating cloud spend. Unlike traditional shared cost allocation, which requires manual apportioning, CloudZero lets customers use telemetry to represent customer utilization — dynamically allocating spend and producing truly accurate results.
“Accounting for shared costs has been one of the great unsolved problems of our industry — with most companies using spreadsheets to make estimates,” said Erik Peterson, CTO and founder of CloudZero. “We’re excited to offer a solution that’s based on real-time utilization data. It’s completely dynamic and lets teams realize all the benefits of shared infrastructure without having to account for it by hand.”
This new offering solves an acute pain point for many companies. According to the “State of FinOps Report 2021,” an annual survey of financial operations professionals, “dealing with shared cost” is the industry’s second most common challenge. Adopting cloud-native infrastructure, such as containers and Kubernetes, only compounds the challenge. With resources shared across systems, traditional tagging cannot dynamically allocate the costs associated with shared or multi-tenant systems. CloudZero’s approach goes beyond tagging and allows users to organize any cost with resource and container metadata, as well as telemetry. This means users can view their spend in any way that makes sense for their business.
“Our previous solution was good at looking at resource tags — like every cost solution is — but CloudZero helped us to easily and accurately map cost to our products,” said Brian Morehead, vice president of cloud operations at Malwarebytes. “Working with CloudZero has enabled our product and engineering teams to understand the costs for their respective products — empowering them to make cost-conscious decisions and share responsibility in managing the expense.”
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