January 26, 2017
Optimizing Cloud Costs in a Multi-Currency World
by Jeff Howard | Cloud Cruiser
With businesses across the globe moving more workloads to the cloud, the challenges of managing usage and spending is escalating. And while there are a proliferation of tools and apps designed to address this growing problem, there are still several limitations that prevent companies outside of North America from getting the most out of their clouds.
Over half of Cloud Cruiser’s customers are from outside the United States, with a strong concentration in Australia, India, and Europe, so enabling our customers to view their cloud spend the same way they read their local utility bill is paramount. In our latest Cloud Cruiser 16™ release, we rolled out several new features to make it easier for organizations to address multi-currency challenges:
1. Currency Conversion. A big reason businesses want to move to the cloud is to save money. However, if they aren’t able to easily understand what they’re spending, they’ll be less inclined to run their business applications in the cloud. Currently, Amazon Web Services only provides billing reports in U.S. dollars (USD), which can make it difficult for international companies that don’t typically deal in U.S. currency to properly plan for and manage their cloud spend.
Cloud Cruiser’s new features allow customers to view rates and charges in their local currency– even if the cloud provider only deals in USD. As an example, an AWS customer from India will be able to view their cloud spend in Rupees from within the Cloud Cruiser 16 app, even though Amazon only provides their bills in USD.
2. International Formatting. One of the other problems that non-U.S. businesses struggle with is how their currency is displayed in apps since different regions represent their numbers in different ways. Now, Cloud Cruiser makes it simple to select your preferred locale to ensure that your usage quantities, cost and rate values, and other numbers are easy for your users to understand. This includes using the right separator character (such as a comma, period, or space) for decimals and other numeric intervals, and placing currency symbols before or after the number.
3. Multi-Currency. Many global companies have cloud subscriptions originating from different countries, resulting in bills that span multiple currencies. For example, a company that has operations in India, France, and the United States will receive Azure bills in three different currencies, making reporting quite confusing and difficult to interpret.
Cloud Cruiser now gives you the ability to view your reports and dashboards in a single currency, delivering more consistent, meaningful cloud analytics across your entire global business. Each charge on your bill is converted using the exchange rate in effect on the date of the charge, ensuring that decisions are being made on the most accurate data possible. If you decide in the future that you’d prefer to view a different currency, you can always change your choice.
Localized currencies will be used not just in reports and dashboards, but also in Cloud Cruiser 16’s powerful Insights, RI Advisor™, and What-If™ features.
It’s no secret that the global public cloud market is expanding rapidly. In fact, it’s growing at a 22 percent compound annual growth rate and expected to top $146 billion in 2017. However, the value of public cloud can be attributed to how well you manage your public cloud instances. In order to truly realize the cost savings of the cloud, it is essential to plan for, manage, and optimize your consumption and spending. With Cloud Cruiser 16’s new currency conversion mechanisms it will be easier than ever to understand what you are spending on cloud.
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