Enterprises are suffering from wasteful cloud spend, and strategies for cost remediation are introduced too late, revealed a study conducted by Forrester Consulting on behalf of Boomi.
“When systems are disconnected and data is siloed, companies are only seeing part of their organisations’ cloud cost picture, and this lack of visibility impacts tracking and decision making,” Ed Macosky, chief product & technology officer at Boomi, said. He believes findings reveal that integration is becoming an afterthought in the cloud cost equation.
Integration as separate entity
The study revealed 87% of APAC companies exceeded their set cloud budgets over the past two years and 69% project it to exceed this fiscal year.
“About six out of ten APAC respondents (63%) believe their cloud cost monitoring and optimisation (CCMO) recommendations are only as good as the data their company can provide. However, 40% are finding it challenging to address the fundamental issue causing their excessive cloud spend. This issue arises due to many organisations perceiving integration as a separate entity, when it holds great potential to serve as a control layer in managing cloud costs,” said Thomas Lai, vice president & general manager of APJ at Boomi.
Moreover, less than half of companies have strategies to resolve excessive storage (57%), lack of integration strategy (39%), and overconsumption of bandwidth (45%).
Improving early integration
Majority (75%) agree an integration platform that connects apps, data, and people can improve cloud efficiencies and reduce overall cloud spend from the solution architecture stage. Respondents who deploy integration platform as a service (iPaaS) solutions experienced more effective cloud cost management (63%), increased data visibility and reporting capabilities across stakeholders (59%), and improving cloud spend governance (63%).
