Independent Study by Boomi Links Wasted Cloud Spend to Blind Cost Management Strategies
View the full release here: https://www.businesswire.com/news/home/20240402770975/en/
- View the full release here: https://www.businesswire.com/news/home/20240402770975/en/
Independent Study by Boomi Links Wasted Cloud Spend to Blind Cost Management Strategies (Graphic: Business Wire)
The independent study found 72% of global companies exceeded their set cloud budgets in the last fiscal year. - With public cloud spend expected to reach more than $1 billion in the US by 2026, the stakes are high for improving cloud cost management and optimization (CCMO) strategies.
- Although the study shows leaders prioritizing CCMO tactics earlier in the cloud development process (65%), most companies lack proactive strategies at the earlier architecture level.
- FinOps practices are also being hit: Similar to CCMO tooling, emerging FinOps practices are not spared the challenges associated with reactive cloud cost remediation strategies.