Hitachi Vantara Cloud Financial Operations

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2021: Cloud Service Cost Optimization Solution

On September 23, 2021, Hitachi Vantara, a subsidiary of Hitachi Ltd, specializing in digital infrastructure, data management and analytics, announced the launch of the Cloud Financial Operations service suite to control cloud service costs. The ultimate goal of the project is to help organizations achieve high flexibility in their tasks and find the necessary compromise between quality and speed in managing cloud service costs and long-term investments.

FinOps for Cloud Cost Optimization

The services offered eliminate the cost overruns associated with the cloud services economy, which is becoming more apparent as the industry is digitally transformed.

Cloud Services Costs

The transition to cloud services turned out to be an obvious step for many companies from various industries, because this approach accelerates business development. However, the problem is that when large companies move most of their workloads to the cloud, they find that resource consumption "on demand" quickly eats up the promised cost savings and leads to budget overruns. IDC predicts that public cloud spending management investments will increase significantly by 2022 as insufficient automation and cumbersome application architecture lead to increased waste that enterprises seek to reduce by more than 50%.

Cloud FinOps Services to Optimize and Manage Cloud Costs

FinOps services help customers optimize their spending on cloud services, control them and reduce risks. In particular, Hitachi Vantara helps customers:

• Gain control over cloud costs with real-time monitoring, the right architecture, and projected costs.
• Get more value from the cloud by balancing cost, speed, and quality.
• According to company estimates, customers on average will be able to get 30% savings.

"Managing costs and investments across multiple cloud environments is challenging, and it's easy to overspend digital services with limited visibility and predictability. Cloud FinOps solves this problem and reduces total cost of ownership by comparing cost data, labeling, distributing total costs equitably, and recommending data-based cost recovery. says Roger Lwin, president of Hitachi Vantara's digital solutions division.

The Hitachi Vantara portfolio of services is based on the E3 methodology, which is a comprehensive approach to optimizing applications and data, allowing customers to plan, evaluate and implement a FinOps program to solve complex cloud management tasks. With Hitachi Cloud FinOps, customers get a ready-made solution that delivers the following results:

• Cloud Computing Assessment Service to optimize costs, which determines the current cost of the cloud to the customer, focusing on industry standards and recommendations. The service includes data collection and processing to report on the current status, which is analyzed to optimize costs and prepare an action plan. In addition, the service also provides advice on existing methods, a feedback cycle and implementation support. The company charges a fixed fee, which is reinvested for further optimization.
• A cloud-based cost management and optimization service that improves resource utilization by providing real-time decision support. time Specialists compare cost data with business results, determine budgets and make forecasts, and also form a tag strategy and compliance. The service includes scorecards, benchmarking information , and panel creation. The price depends on the result (fixed fee and percentage of real savings).
• Manage cloud finances as a service. A continuous, iterative operating model that helps balance costs, improves the efficiency of cloud service, and allows you to reinvest your savings in development. Customers can monitor cloud resource consumption and costs, as well as the necessary reporting. The service continuously optimizes costs by choosing the optimal use of only the required cloud services. Cloud computing costs are managed by automating and controlling the lifecycle of cloud services through financial analysis tools. The cost of the service depends on the result and consists of a fixed fee and a percentage of the savings.