In today’s hyper-competitive business landscape, leveraging the cloud’s agility and scalability is no longer a choice, it’s a necessity. But for businesses like Sapiens, a leading insurance software provider, managing the ever-growing costs associated with sprawling cloud environments can be a hidden monster, silently draining budgets and hindering innovation.
The Challenge: Lost in a cloud of cloud Bills.
While the cloud offers unparalleled scalability and agility, managing costs across diverse cloud platforms can be a complex and time-consuming task. Traditional methods often leave businesses drowning in a sea of siloed data and disparate bills, making it nearly impossible to gain a holistic view of cloud spending. This lack of visibility can lead to:
Hidden Costs:Â Overutilized resources, duplicate services, and inefficient configurations can silently drain cloud budget.
Poor Decision-Making:Â Without a clear understanding of cloud spend, making informed decisions about resource allocation and optimization becomes a guessing game.
Budget Overruns:Â Inconsistent cost monitoring can lead to unpleasant surprises when the bill arrives, jeopardizing financial stability and hindering growth initiatives.
Sapiens Challenge: The Need for a Cloud Cost ManagementÂ
Sapiens, like many businesses, faced these very challenges. Their cloud-based software empowers insurance companies to innovate and thrive in the digital age. But even with a best-in-class platform, managing their cloud spend across various providers proved to be a significant hurdle. They needed a solution that could:
- Unify Cost Data:Â Gain a single pane of glass view into their cloud spending across all cloud providers, eliminating data silos and ensuring complete transparency.
- Optimize Resource Allocation:Â Identify cost drivers and optimize resource usage to ensure they were getting the most out of their cloud investment.
- Control Spending:Â Proactively manage cloud costs with near real-time insights and anomaly detection to prevent budget overruns and maintain financial control.
The Sapiens, iSteer solution on Microsoft Fabric: A Beacon of Hope
Sapiens stepped in to collaboration with iSteer a leading cloud solutions provider to slay the hidden costs. With implementation of a robust multi-cloud cost analysis solution built on Microsoft Fabric, which led to paradigm shift where cloud cost data transforms into an engaging narrative with domain experience & technologies.
- Â Data model: Engineered a sophisticated data model, informed by the cost management aspects, which functions as the central hub for dissecting and evaluating cloud spending across a multitude of providers.
- Unified cost view:Â Dataflows within Fabric seamlessly collect cost data from Azure Blob Storage and Azure Cost Management, providing a consolidated view of spending and eliminating siloed information. Sapiens finally had a clear understanding of their true cloud costs.
- Actionable Insights:Â Fabric’s ability to transform raw cost data into a standardized format enabled in-depth analysis. Sapiens could now identify cost trends, pinpoint anomalies, and make data-driven decisions to optimize their cloud spending.
- Track Key Performance Indicators (KPIs):Â Focus on what matters most! Developed custom KPIs tailored to your business needs, such as cost per department, resource utilization rates, or return on cloud investment (ROCI). Monitor these KPIs in near real-time through dynamic dashboards, identify areas for improvement and optimize cloud spending strategy.
- Forecast budget:Â Implemented forecasting to create accurate budget forecasts. This proactive approach ensures stay within budget constraints and avoid unexpected cost overruns.
- Drill down for granular insights:Â Delve deep into your cost data, slicing and dicing it by specific projects, teams, or resources. This granular view empowered to pinpoint areas for further optimization and make data-driven decisions.
- Tailored custom calculations:Â Included custom metrics like cost per subscription, cost per resource, forecast by granularity, MTD, YTD, MoM% or the impact of scaling specific resources etc. These custom calculations unlock a new level of insights and empower you to analyse your cloud costs from every angle.
- Real-Time visibility:Â Sapiens gained real-time insights into their cloud spending, allowing for proactive cost management, and ensuring they stayed within budget.
- Significant cost savings:Â By optimizing resource allocation and identifying cost inefficiencies, Sapiens was able to significantly reduce their cloud expenses, freeing up valuable resources for innovation and growth.
Slay your hidden cloud cost monster. Partner with iSteer for, the all-in-one solution that unleashes clear cost visibility and data-driven insights.
