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REPORT

State of Cloud:
The Critical Role of Third-Party FinOps in Cloud Spending Control

Introduction

Cloud expenditures are building to a fever pitch with new waves of investment in AI and Generative AI increasing costs by 30% over the past year alone. While cloud spending problems have been pervasive in the age of accelerated digital transformation, emerging technologies are driving a new urgency for financial oversight as 72% of IT and financial leaders find their GenAI-driven cloud spending unmanageable.

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72% find GenAI-driven cloud spending UNMANAGEABLE

The FinOps framework offers best practices for optimizing public cloud infrastructure; however, today’s complex and dynamic cloud environments trigger a broader set of challenges calling for wider approaches to cost management. The latest research reveals that:

95%

of organizations have plans to repatriate existing public cloud resources, and yet, 80% find private cloud costs trickier to manage. 

$2,559

With cloud software now costing businesses an average of $2,559 per employee annually, and more than 67% of leaders admitting their productivity software licenses (like Microsoft 365® and Google® Workspace) go to waste, 94% agree that the FinOps model needs to incorporate SaaS – not just IaaS.

92%

report their cloud expenditures are rising with spending split almost evenly across a range of categories including private cloud (28%), software as a service (28%), public cloud (25%), and unified communications as a service (19%).

94% agree that the FinOps model needs to incorporate SaaS – not just IaaS.

Organizations lacking a comprehensive cloud management strategy face challenges in wasted resources, lost productivity, and significant financial burdens. To learn how organizations expand and amplify the results of their cloud optimization programs, Vanson Bourne surveyed 500 IT and finance leaders. Explore their strategies, technologies, and best practices for achieving superior efficiency and savings with more productivity and financial predictability.

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REPORT

State of Cloud:
The Critical Role of Third-Party FinOps in Cloud Spending Control

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