9 Best practices for reducing spend in your multicloud environment

Many organizations have learned the hard way that moving to the public cloud didn’t always achieve the cost savings they expected. In fact, through 2020, 80% of organizations will overshoot their cloud IaaS budgets due to a lack of cost optimization approaches.

This doesn’t mean that moving to the public cloud is a mistake. The public cloud provides huge benefits in agility, responsiveness, simplified operations, and improved innovation. The mistake is assuming that migrating to the public cloud without implementing optimization and
governance practices will lead to cost savings.

As a result, many organizations are taking a strategic approach by having a multicloud environment in order to take advantage of the best services and pricing discounts that each cloud provider has to offer. While this approach presents numerous cost saving opportunities, the challenge becomes making sure all of your cloud environments are properly managed and under control.

The first step in combating rising cloud costs is to gain visibility across your entire organization’s multicloud spend. Once you’ve identified the areas of high and/or rapidly growing costs, use these proven best practices for cost reduction and optimization to make sure you are getting the most out of your cloud investment.