An enormous level of organizations today is spending a lot on compute resources and storage. For instance, capital accused of abundance ability in on-prem data centers, to assist with fulfilling an expanding need.
TCO (Total Cost of Ownership) is the cost of a service or product, in addition to any running charges. The total cost covers the initial price, usage, maintenance, and disposal of both physical and cloud resources.
TCO may be used to balance costs against reward-focused services, applications, or hardware. By analyzing the TCO, companies can easily examine all of the costs involved to help make important decisions.
When you migrate workloads and applications to the cloud, you have to provide support services, such as access management, storage, networking, and monitoring.
These services may cost more than planned, so you will need to factor in these expenses for a true total cost.
You may have heard, in passing, that cloud solution can help your organization reduce TCO with:
- The elimination of capital costs
- Faster deployment and increase employee productivity
- Flexibility for a mobile workforce
- Reduced risk with backup services
- Decrease overall downtime and improve productivity
Let’s consider the following steps to reducing the total cost of ownership
1. Save Your Existing Investments
When considering new technologies and procedures for any IT infrastructure, it’s good to keep existing investments at reasonable levels.
The goal is to focus on network solutions that produce maximum agility. Your operations and network systems should be well integrated. Determine which of your existing investments will help minimize future costs, and which will hinder your ability to grow and transform your business. It will help you to reduce your spending.
2. Use a Cloud Governance Tool
A good cloud billing tool supports any cloud use-case. The tool should be selected not only to keep costs down but also to prevent waste.
It should help to select the right use-case, based on both size and cost, and allow you to predict the costs of running your workloads.
The more you leave cloud incapabilities unattended, the more the costs will increase. However, by utilizing the automation features of cost-optimization tools, you can set up immediate replies to the misconfigurations and mitigate them as soon as they occur.
In addition, these features help you to keep expenses at bay and reduce costs without tedious, manual operations while enabling your management team to focus on cloud management.
4. Optimize Cloud Storage
Storage in the cloud is a great way to reduce on-premises hardware usage, as storage needs continue to evolve. Optimization helps to improve and maintain control over the ever-increasing volume of data coming from different sources.
It is always important to create multiple data lines and store the incoming data in their respective data line. It is also necessary to distribute the workloads effectively between spinning disks and flash to help improve data storage and control.
5. Migrate to a local cloud and reduce on-prem utilization
By moving workloads from on-premises to the cloud, enterprises outsource a number of their most time-consuming IT management and maintenance activities.
This frees up IT teams to concentrate on revenue-generating activities, such as; developing features, fixes, and new innovations in order to enhance customer experience and gain an edge over competitors.
Migrating to the cloud improves agility, lowers TCO, and accelerates innovation using cloud-native development and automation technology.
Download whitepaper here on how to move to the cloud if this is your first time
6. Use cloud backup and Disaster Recovery to reduce failover site TCO
A lot of cloud backup solutions give businesses a way to economically off-site critical data into a cloud provider’s facility.
Companies also need a way to rapidly recover failed business applications, both at their primary site and in the cloud. In addition, they need solutions that aren’t complex or that carry a high TCO.
Disaster Recovery services may help you get your site back up and to enjoy such benefits as; storage optimization, data protection, better manageability, and reduced disaster recovery costs by utilizing a cost-efficient failover platform.
Cloud Services can reduce TCO for businesses of all sizes. The cost of servers, maintenance, innovations, and upgrades are spread through a multitenant hosted infrastructure, allowing the cloud service provider to offer enterprise-class services to every client.
Find out today how cloud services from Cloudflex Computing services can help your business reduce TCO.
He has more than 30 year experience in Technology, having worked in the United Kingdom, France, Belgium and Switzerland before moving back to Nigeria.
He is currently the Managing Director of Cloudflex Computing Service Ltd.
He has written several published articles on this subject.
He can be reached via email: [email protected]