Nearly 60% of organizations overspend their budget on cloud resources, due in part to mismatched IT and finance perceptions, according to a Cloudability report.
Amongst those surveyed, 58% of respondents said they overspend their budget on cloud resources–and of those, 69% said they overspend by up to 25% more than budgeted.
The vast majority of global companies are experiencing a rapid growth in the number of cloud services that they have with more than one provider. These can include cloud services such as Microsoft 365, AWS and Salesforce.
These decentralized, self-service cloud services can cost global businesses millions of dollars every year. Teams setting up their own cloud services, often without the explicit consent of the finance department, can leading to ballooning costs. It can also lead to sensitive company data being put at risk of breach, which can lead to serious compliance issues.
How Can Veroxos Help Solve This Problem?
Veroxos enables your global organisation to gain visibility and control over all of your cloud services and billing in one single place. It provides full transparency so that your enterprise can understand every cost’s source, type and location in real-time.