ManageEngine, a division of Zoho Corp., has expanded its cloud cost management tool, CloudSpend, to Google Cloud Platform (GCP). This move follows AWS and Microsoft Azure, making CloudSpend the third-largest public cloud computing platform globally by market share. The tool reduces redundant cloud resources and mitigates the risk of costly cloud sprawl. It also accelerates cloud cost tracking, budgeting, and forecasting through AI-driven models. CloudSpend now features a cost anomaly detection capability, allowing enterprises to monitor and manage cost blind spots across multiple cloud service providers. The company will showcase CloudSpend’s GCP features at Google Next 2024.

Multi-cloud is the way forward

Organizations are keen on embracing not just one but multiple cloud platforms to diversify their business operations, split workloads, ensure cost-cutting and eventually enjoy success. Consequentially, investments into public cloud adoption are expected to reach $679 billion in 2024, entailing an efficient cloud cost observability and optimization platform to maintain cloud finances.

“ManageEngine estimates that organizations operating in a multi-cloud environment often under-utilize their cloud resources, with their cloud usage topping at 55%. At ManageEngine, we believe that CloudSpend will help businesses rise above such challenges and advance in their cloud maturity journey by offering the visibility to stay on top of their investments. This multi-cloud cost intelligence platform follows FinOps best practices and is boosted with smart forecasting features that help reduce operational expenditure. It also bridges the gap between capacity planning and cost optimization for resources running in multi-cloud setups,” said  Srinivasa Raghavan, director of product management at ManageEngine.

Cost anomaly detection, the newest addition to CloudSpend’s wide range of features, acts upon any cost-related anomalies at the organizational level. It identifies unexpected cost increases or resource usage that deviates significantly from the norm. It also provides insights on opaque pricing, where costs may be hidden and potentially higher than expected.

Other Key Features of ManageEngine CloudSpend

  • Business Units and chargebacks: For greater accountability across departments, CloudSpend Business Units lets organizations carry out chargebacks and implement accountability within organizations.
  • Budgeting and forecasting: Create budgets in multiple currencies through budget policies and set budgetary alerts. Understand how the cost journey takes shape with usage-based, AI-driven forecasting models.
  • Resource Explorer: Drill down costs at the resource level for in-depth cost visibility with smart tagging, and get insights about spinned-off resources.

Pricing and Availability

The pricing model for CloudSpend caters to businesses of all sizes, offering free tracking of costs up to $3,000 per month of spending on GCP, AWS and Azure cloud. The paid version starts at 1% of monthly spend above $3,000 and is available to download on both iOS and Android. To learn more and sign up for a 30-day, free trial of CloudSpend, visit www.mnge.it/cdsd.