Cost-effectiveness is among the chief reasons businesses decide to migrate to the cloud. However, many organizations struggle to achieve significant savings, as they fail to properly plan ahead and are often met with unexpected costs.
This is according to a new report from multi-cloud service provider Aptum, which explains the difficulties in achieving visibility over different workloads and control over cloud environments. As a result, more than half of businesses (57 percent) are met with unforeseen costs.
For more than four in five (81 percent) of the organizations polled for the report, the lack of necessary insights makes performance evaluation difficult. This means they can’t enforce remedial measures for various issues, consequently damaging the efficiency of cloud solutions.
Furthermore, over a third of respondents (35 percent) admitted to wasting IT spend due to inefficient use of cloud platforms.
For Leigh Plumley, Chief Revenue Officer at Aptum, there are three main components of cloud architecture that need to be taken into consideration when forecasting the true total cost of ownership: best-practice architecture, security, resilience and cloud connectivity.
Only by understanding these three factors can businesses deliver maximum value from their cloud investments, Plumley concluded.
Despite these troubles, most businesses (80 percent) still see cloud computing as vital to their financial security.