With many organisations spending more than $33 million a year on cloud services, it was recently found that more than $8.75 million could be saved or spent elsewhere.
Indeed, a study by Couchbase showed that cloud challenges such as inflexible pricing plans, poor management tools, and data not being stored where it needs to be was adding more than 35% to enterprise cloud costs. Besides this, IT leaders have reported that cloud services don’t always meet expectations or even made their digital transformation projects more difficult and expensive.
Moreover, many businesses are struggling against service limitations and had to restrict their digital transformation goals. These organisations are also faced with not having enough insight into spending or ways to optimize costs which leads to overspending.
Hence, it is vital that service providers step up to address these challenges and inefficiencies in order to help companies have new opportunities for digital transformation and reduce costs. Yet, IT leaders are still optimistic about the cloud and are confident that their cloud services will provide them with high levels of security, availability, performance, cost-effectiveness, control, scalability, and compliance.
Organizations believe that 58% of their IT spending will be in the public cloud as they are currently more than halfway towards meeting that goal.