Using FinOps practises resulted in a 42% saving on costs
A steel manufacturing client, achieved a remarkable 42% cost savings on AWS workloads over three months by leveraging iOCO's FinOps capabilities and platform, alongside strategic use of AWS Marketplace Contracts and AWS Instance Savings Plans.
42%
Cost Savings
Through a substantial reduction in AWS workload spending.
3
Months
These savings took only three month to be realised.
Project Background
The client, a distinguished steel manufacturer, confronted multifaceted challenges in managing a diverse mix of EC2 instances, RDS databases, and various AWS services, all amidst escalating costs and complex budget management in their AWS environment.
With the intention of gaining visibility and vital insights into their cloud expenditure, they engaged with iOCO's FinOps team to help them effectively navigate through their financial and operational challenges.
Priorities
Three critical priorities emerged as fundamental to this project.
Our Approach
Adopting a multifaceted strategy, our approach centred on being pragmatic, and collaborating with the client in order to generate fast, yet sustainable results. As a result we concentrated our efforts on the following:
Leveraging iOCO's expertise
Utilising iOCO's FinOps Platform
Implementing Strategic Planning
The Solution
Through visualisation of their cloud usage and spend, the Platform easily enabled us to identify which AWS services the client was using the most, and from there we helped them to find AWS Marketplace contracts for those services that would save them money. The key features of our solution for this client are:
By using AWS Marketplace contracts and Instance Savings Plans, the customer was able to:
Note: AWS Marketplace contracts and Instance Savings Plans can be a great way to save money on AWS costs. However, it is important to carefully plan and implement your solution to ensure that you are getting the most out of it.
Results
Through the strategic utilisation of iOCO's FinOps Platform and a keen application of AWS Marketplace Contracts and AWS Instance Savings Plans, the company not only realised a significant 42% cost reduction on AWS workloads but also substantially improved their budget predictability and resource utilisation.
The platform provided the necessary insights and capabilities to optimise infrastructure, reduce waste, and enhance operational efficiency, while maintaining a transparent and manageable view of spending patterns for on-going, proactive cost management.
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