Leading FinOps platform enables organizations
to automatically reduce cloud costs and mitigate commitment
lock-in
AUSTIN,
Texas, July 19, 2024 /PRNewswire/
-- ProsperOps, the leading FinOps automation platform, today
announced general availability of Autonomous Discount Management
(ADM) for RDS, ElastiCache, MemoryDB, Redshift, and OpenSearch
products, expanding its platform offerings on AWS. ProsperOps has
been fine-tuning the offering based on feedback from initial users
since Early Access launched last November.
While EC2 is often the largest line item on an AWS bill, RDS
generally ranks #2. Other AWS data and analytics services,
Redshift, OpenSearch, ElastiCache, and MemoryDB, also have
meaningful spend. To reduce costs without rearchitecting,
organizations turn to Reserved Instances (RIs), a type of
commitment-based discount, to lower their cloud spend.
However, managing RIs is time-consuming and risky. FinOps teams
must closely align RIs to resources by match key (region, instance
type, platform, and size combinations). RIs are also immutable. If
usage drops, FinOps teams run the risk of wasting spend and paying
for unutilized or only partially utilized RIs, or worse, increasing
instead of decreasing their cloud costs.
Through ProsperOps automated Reserved Instance management,
organizations seamlessly optimize their cost savings while managing
commitment lock-in risk without ongoing management overhead.
Customers are already seeing the benefits of this new offering.
"ProsperOps saves Drift a ton of money, and my team a ton of
time on reservations management, so when they offered to take over
RDS reservations, it was a no brainer - better reservation
coverage, more savings, and less effort!" said Matt Jackson, SRE Manager at Drift, a Salesloft
company.
Benefits of ProsperOps ADM:
- Intelligent risk mitigation with
Adaptive Laddering™ — ProsperOps algorithms
distribute Reserved Instance purchases over time to safely increase
coverage and derisk from overcommitment. This creates a staggered
ladder where some portion of commitment continually expires. For
example, if usage drops, ProsperOps stops purchasing RIs, allowing
some of them to expire until commitments align with usage.
ProsperOps continually watches usage patterns and intelligently
adapts ladder rung frequency and size. Over time, RI coverage stays
consistently high, and an ongoing pattern of expirations creates
flexibility that wouldn't exist otherwise.
- Time, effort, and resources saved — The platform
automates away the time-consuming, error-prone process of managing
RIs by concurrently optimizing hundreds of Adaptive Ladders at
scale. Users configure a handful of settings upfront, and
ProsperOps takes over. ProsperOps systems continuously adapt RIs to
dynamic usage patterns, so that FinOps teams can focus on other
activities that further cloud financial outcomes for their
organization.
- Automation with control — ProsperOps algorithms
operate within established constraints via control settings.
Organizations can selectively disable match keys, establish vacate
dates in anticipation of fully exiting match keys, and set coverage
bounds. The Adaptive Laddering algorithms adjust accordingly based
on these settings.
ProsperOps also provides a comprehensive set of dashboards,
which surface key metrics, including Effective Savings Rate, cost
savings and RI coverage trends, incremental savings, and lifetime
savings, allowing stakeholders to visualize their benefits.
Additionally, the console has enhanced metrics and visualizations
to show commitment lock-in risk.
"The ProsperOps platform offers an efficient way to save on
cloud spend. Today's announcement brings that immense cost-saving
potential to a host of additional AWS services," said Erik Carlin, Co-Founder and Chief Product
Officer of ProsperOps. "With these new product launches,
organizations can have Reserved Instances automatically managed,
achieving greater savings with less risk, all without the drudgery
of traditional manual processes."
Visit the blog post to learn more.
About ProsperOps
ProsperOps is the leading FinOps
automation platform for AWS and Google Cloud Platform (GCP).
Founded in 2018, ProsperOps reduces cloud costs by automatically
optimizing for commitments (e.g., AWS Savings Plans/Reserved
Instances and GCP Committed Use Discounts) while minimizing
commitment risk.
For many organizations, cloud spend can be a top 5 cost
category. Achieving world-class cost savings with commitment-based
discounts is complicated when cloud usage is elastic, but
commitments are inelastic. ProsperOps allows commitments to
become more flexible by continuously monitoring and adapting them
to changes in usage with its intelligent algorithms. By not relying
on humans to manually manage commitment, ProsperOps maximizes cost
reduction outcomes. ProsperOps's customers achieve 40%+ Effective
Savings Rate on AWS, which places them in the top 1-2% compared to
industry peers.
ProsperOps is a founding member of the FinOps Foundation and a
FinOps Certified Platform, AWS Cloud Management Tool Competency
& ISV-Accelerate Partner, and Google Advantage Partner. Learn
more and get started at www.prosperops.com.
Media Contact
Angelica
Letcher
PANBlast for ProsperOps
317.806.1900 x 213
prosperops@panblastpr.com
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SOURCE ProsperOps