Wanclouds, a leading multi-cloud SaaS and managed service provider, announced the addition of Cost Optimization as a service (COaaS) to its solution offering. Since the release of version 2.0 of its Multi-Cloud Spend Visibility and Cost Optimization feature in February of this year, Wanclouds has seen increasing demand from current and prospective customers looking to optimize cloud spending as rising costs come under the microscope. To meet this demand, Wanclouds is spinning its existing cost management tools into an entirely new service offering alongside its Disaster Recovery as a Service (DRaaS) and Migration as a Service (MaaS).
Powered by VPC+ and building on the latest version of its spend visibility and cost optimization feature, Wanclouds COaaS provides enterprise-wide spend visibility and cost tracking for various cloud resources. Through its proprietary analytics on users’ cost and usage data, and Amazon’s Cost Explorer for rightsizing, Wanclouds provides customers a real-time view into the cost of cloud resources, recommendations on infrastructure changes for optimization, purpose tagging, backups, as well as resource pause options. Rightsizing recommendations use machine learning to identify the optimal Amazon EC2 instance types for each workload.
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More importantly, unlike most cost optimization providers, Wanclouds enables users to take action on these cost savings recommendations with one click. This ability is vital for IT leaders as CFO’s and FinOps are increasingly asking to curb cloud spending associated with digital transformation initiatives that started during the pandemic. A recent Wanclouds survey of 500-plus IT and cloud decision-makers in August found that amid skyrocketing and inefficient cloud spending, over 80% have been directed by their C-suite to either take on no additional cloud costs or reduce them.
“At Wanclouds, we use our proprietary cloud discovery service to auto-discover the customer’s infrastructure, enabling features such as migrations and backups. We’re now leveraging this data with the built-in rightsizing features in AWS to provide cost-savings recommendations that can be implemented instantly,” said Faiz Khan, CEO of Wanclouds. “Recommendations are great, but implementing cost optimization is typically very complex. We’re taking the pain out of that process by enabling organizations to pause and restart entire workloads on the fly for the first time to maximize savings.”
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For instance, Wanclouds may recommend to an organization that an idle testing resource be paused over a long holiday weekend to save as much as 20% of their daily cloud spend before restoring it when they return to the office. Furthermore, Wanclouds’ COaaS dashboard provides a central hub with a summary of all AWS cost recommendations related to idle resources and rightsizing total spending. The insights spotlight the resources used the most, along with their purpose. Wanclouds plans to add COaaS support for those working with Google Cloud, IBM Cloud, and Microsoft Azure soon to enable multi-cloud organizations to utilize actionable cost savings recommendations across clouds.
“Multi-cloud spending has become less efficient and is increasing annually for most organizations due to stale and oversized infrastructure resources. Wanclouds is now helping organizations modernize and optimize cloud resources along with its seamless migration across clouds and backup as a service for Kubernetes and cloud VPC designs,” added Khan.
Highlighted features of Wanclouds Cost Optimization as a service (COaaS) include:
- Sorting of costs by resources such as EC2 instances, Volumes, Elastic IPs, and Elastic Load Balancers
- NAT GatewaysTagging of cloud resources based on the engineering stage: development, testing, and production
- One-click ability to stop and re-start idle resources and rightsizing recommendations for savings based on projected monthly costs
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