An executive’s guide to cloud billing (and strategies for cost-efficiency in 2024)

Gone are the days of software installed on a physical computer. In the last 20 years, the majority of consumer and business software has shifted to the cloud.

Instead of relying on the processing power of the computer in front of you, or even servers that your company owns, we now use the internet to allow Amazon, Microsoft, and Google’s data centers to perform functions on our behalf, creating a seismic shift in the capacity of companies like yours to create and develop software, connect with customers and employees, and spend IT budgets.

It should be of no surprise to anyone that there has been tremendous growth of cloud usage since the pandemic began. Businesses were already headed in that direction because of factors like shortening time to market and reduction of capital overhead. But with the need to distance ourselves from each other, many businesses discovered the need to distance technical staff from data centers. Many large enterprises have also recognized the value of cloud computing. In fact, around 87% of Fortune 500 companies have adopted at least one public cloud platform.

With increased usage, comes increased spending. By the end of 2022, U.S. cloud spending reached over $90 billion (27.8% growth compared to 2021). By 2025, there will be an estimated 175 zettabytes of stored data on the cloud (a 61% increase from 2021).

On Oct. 4, Chariot Solutions hosted a webinar with Aimably to delve into the nuances of cloud billing, empowering technology, finance and operational leaders to make informed decisions in the cloud era.

From understanding the unique aspects of cloud billing to interpreting your bill, pinpointing rationales for cost escalations, implementing savvy cost-control methods and rapidly regaining control, this webinar is your comprehensive guide to reigning in cloud expenses.

Watch the full video below:

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