Editor's Note: Take a look at our featured best practice, Cloud Strategy Template (42-page Word document). This document provides both an outline of the various sections you should include in a document which describes your organisations cloud strategy and extensive example content. The example content is drawn from a real world example cloud strategy for a mid to large organisation who have invested [read more]
6 Ways to Reduce Buyer’s Overhead When Using Cloud Marketplaces
Also, if you are interested in becoming an expert on Digital Transformation, take a look at Flevy's Digital Transformation Frameworks offering here. This is a curated collection of best practice frameworks based on the thought leadership of leading consulting firms, academics, and recognized subject matter experts. By learning and applying these concepts, you can you stay ahead of the curve. Full details here.
* * * *
When it comes to cloud marketplaces, buyers often look for ways to reduce their overhead. This can be difficult, as the cost of using a cloud marketplace can add up quickly. However, there are a few ways that buyers can reduce their costs and get the most out of these platforms. This article will discuss six strategies buyers can use to reduce their overhead when using cloud marketplaces. Let’s get started!
Cloud Management Tools
The first cost-saving strategy we will discuss is using cloud management tools. Cloud management tools allow buyers to manage their compute resources more efficiently. This can lead to cost savings, as buyers can avoid paying for unnecessary or unused resources.
Cloud management tools allow buyers to manage their compute resources more efficiently. Buyers can avoid paying for unnecessary or unused resources using cloud management tools. In addition, cloud management tools can help buyers save money by providing insights into their resource usage. Cloud management tools can also help buyers optimize their resources for peak performance. Tackle.io has an array of information if you’d like to learn more, as well as their cloud management tool if you find it would be helpful for you.
Reserved Instances
A way to reduce buyers’ overhead is to use reserved instances. Reserved instances allow buyers to save money on their compute costs by reserving capacity in advance. By doing this, buyers can avoid paying the higher prices often associated with on-demand resources. In addition, reserved instances can be used to save money on storage and networking costs.
Spot Instances
Another way to reduce costs is to use spot instances. Spot instances are instances made available at a discount by providers when there is excess capacity. This can be a great way to save money, but it is important to note that spot instances can be interrupted at any time.
While spot instances can be interrupted at any time, they can also be a great way to save money on compute costs. Many buyers can save 50% or more on their compute costs by using spot instances. However, buyers should keep a few things in mind when using spot instances. First, it is important to monitor spot instance prices closely, as they can change quickly. In addition, it is important to have a plan in place for when spot instances are interrupted.
Instance Families
Another cost-saving strategy is to use reserved instance families. Reserved instance families allow buyers to save money on their compute costs by reserving capacity in advance for a specific family of instances. By doing this, buyers can avoid paying the higher prices often associated with on-demand resources.
Instance families allow buyers to save money on their compute costs by reserving capacity in advance for a specific family of instances. By doing this, buyers can avoid paying the higher prices often associated with on-demand resources.
Auto-Scaling
Another way to reduce costs is to use auto-scaling. Auto-scaling allows buyers to dynamically scale their compute resources up or down based on their needs. This can be a great way to save money, as buyers only pay for the help that they use.
Auto-scaling allows buyers to dynamically scale their compute resources up or down based on their needs. This can be a great way to save money, as buyers only pay for the resources they use.
Conclusion
In this article, we discussed six strategies buyers can use to reduce their overhead when using cloud marketplaces. By using reserved instances, spot instances, instance families, auto-scaling, cloud management tools like Tackle.io, and optimizing resources for peak performance, buyers can save money on their compute costs. Thanks for reading!
Want to Achieve Excellence in Digital Transformation?
Gain the knowledge and develop the expertise to become an expert in Digital Transformation. Our frameworks are based on the thought leadership of leading consulting firms, academics, and recognized subject matter experts. Click here for full details.
Digital Transformation is being embraced by organizations of all sizes across most industries. In the Digital Age today, technology creates new opportunities and fundamentally transforms businesses in all aspects—operations, business models, strategies. It not only enables the business, but also drives its growth and can be a source of Competitive Advantage.
For many industries, COVID-19 has accelerated the timeline for Digital Transformation Programs by multiple years. Digital Transformation has become a necessity. Now, to survive in the Low Touch Economy—characterized by social distancing and a minimization of in-person activities—organizations must go digital. This includes offering digital solutions for both employees (e.g. Remote Work, Virtual Teams, Enterprise Cloud, etc.) and customers (e.g. E-commerce, Social Media, Mobile Apps, etc.).
Learn about our Digital Transformation Best Practice Frameworks here.
Readers of This Article Are Interested in These Resources
|
Excel workbook
|
|
170-page PDF document
| |||
About Shane Avron
Shane Avron is a freelance writer, specializing in business, general management, enterprise software, and digital technologies. In addition to Flevy, Shane's articles have appeared in Huffington Post, Forbes Magazine, among other business journals.Top 10 Recommended Documents on Cloud
» View more resources Cloud here.
» View the Top 100 Best Practices on Flevy.