Efficiency is defined as the ability to produce something with a minimum amount of effort. Depending on what you’re doing, efficiency is based on different metrics. In sport, for example, achieving greater efficiency is all about how much energy you expend while performing a certain action – like moving through the water when swimming or travelling across the ground when running. In this case, greater efficiency comes down to using less energy to sustain a desired pace.
In business, efficiency is typically about productivity and cost. Efficiency entails the “fundamental reduction in the amount of wasted resources that are used to produce a given number of goods or services”.
Business efficiency deals with how much one produces and at what cost. For many businesses, cloud is all about cost savings. The reality is, however, that any investment in cloud will only be returned, and increased, if your cloud environment is efficient. With cloud, if you overlook the importance of ongoing monitoring and management you could end up with a scary bill at the end of the month.
Below, we detail the importance of cloud cost efficiency.
Sure, upping cloud efficiency is an effort that relates mainly to your infrastructure and architecture decisions but one shouldn’t underestimate the impact this can have on your broader business decisions.
It’s simple – if you reduce spending in one area, you free up funds to spend money somewhere else. Cloud cost efficiency is all about reducing wasteful and unnecessary expenditure-so it’s not like you’re cutting corners. And when you do so efficiently, you will free up capital that can be used to drive your company forward.
Cloud is a continuous effort. It is not something that you implement and leave unsupervised. Having visibility of your entire environment, particularly if it is a complex, multi-cloud vendor environment, is crucial. It’s all about being proactive, so that any issues, wasteful expenditure or spikes in usage can be caught before they become a major expense.
A cost-conscious mindset looks for ways to up value on an ongoing basis. This approach is more than a once off cost reduction drive. It entails continuous monitoring and regular improvements to processes and strategies. Basically, you’re always looking for ways to work more efficiently and reduce unnecessary expenses.
Ultimately, having an effective cloud expense management solution in place makes it possible to leverage the benefits of cloud, without the risk of overspending. If you need help optimising your organisation’s cloud costs, we can assist. ? Trial our OneView Cloud Expense Management solution on the Microsoft Azure Marketplace here.