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Whitepapers

AWS Cost Optimization and Cloud Financial Management

Cloud Financial Management in the cost optimization pillar of the Amazon Web Services (AWS) Well-Architected Framework. It provides guidance to help customers apply the best practices in designing, delivering, and maintaining AWS environments.
A cost-optimized workload fully utilizes all resources, achieves an outcome at the lowest possible price point, and meets your functional requirements. This white paper provides in-depth guidance for building capability within
your organization, designing your workload, selecting your services, configuring and operating the services, and applying cost optimization techniques.

Cloud Financial Management (CFM) enables organizations to realize business value and financial success by optimizing their cost, usage, and scale on AWS.

GoDgtl understands how cloud computing – and the benefits of
flexibility, scalability, security, and agility enabled by cloud computing – can transform organizations.

Download our whitepaper to read the complete whitepaper.

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Blog

How startups can optimize cloud costs

Most startups end up spending a lot of money on cloud resources and capacity. You can keep a check on such expenses as a key priority, but we are talking about startups where founders are already wearing a lot of hats and have nearly zero bandwidth to sit and think about reducing cloud costs. That is where these tips will come handy:

Tip 1

Capacity planning: Auto-scaling resources make sure that your business doesn’t pay for unused cloud capacity. Cloud providers offer native services with auto-scaling features, such as AWS Auto Scaling or DevOps consulting. These features monitor and adjust usage scale to meet the demands and thus, can be used for cost optimization.

Tip 2

Limit data transfer fees: The cost of moving data to and from a public cloud service can be time-consuming and expensive. Cloud providers charge extra fees to move data off their platforms or between regions. To reduce costs in this area, keep a check on unnecessary data transfers.

The first thing you should do is assess your cloud provider’s transfer fees. Then, adjust your cloud settings to reduce the number of necessary data transfers. For example, on-premises applications that frequently take access to cloud-hosted data eliminate those loops.

Tip 3

Hire professionals. One of the best ways to optimize cloud costs is signing up with professionals who not only can serve you with end-to-end cloud consultation but will also-

  1. Help your startup with cost optimization of cloud storage
  2. Offer DevOps as a service
  3. Take care of all the compliances and governance
  4. Take up managed services from your plate so you can focus on other things that matter more to your business.

At this point, this is also important to understand why you need cloud services in the first place.

Why startups need cloud services

Cloud can take your business to higher levels giving you data freedom and flexibility. Here are some of the important benefits of the cloud:

  • Collaboration– The most important benefit of using a cloud service is collaboration. Today, when the whole world is working from home, it has now become the need of the hour. Employees working from different geographical locations can come together in a highly convenient and secure manner to work on the same platform.  And to have a smooth-functioning collaborative environment, we recommend you to try AWS consulting services.
  • Storage capacity– You can never anticipate your exact storage requirement, and this is when cloud services come in handy. Cloud infrastructure gives you the freedom to expand your data storage capacity whenever you need it, by paying a nominal fee.

  • Cost-saving – A successful business is one that not only creates revenue but simultaneously makes the optimum use of resources. The most important advantage of using this service is that it saves a great amount of capital cost for startups.

Optimization of cloud services will vary from startup to startup. Identify the goals and understand the business to make the best use of the services. Leveraging cloud services to maximize profits, in the long run, should be the ultimate aim.

Want to start your cloud journey today for free? Get our team to assess and help migrate your workloads for free with our Starter Package of Cloud Consulting.