Cost management has become exponentially more challenging as enterprises increasingly leverage a combination of cloud and on-premises infrastructure. Without the right tools, knowing where your cloud spend goes is nearly impossible. LogicMonitor, the leading SaaS-based Hybrid Observability powered by AI, unveils the powerful LM Cost Optimization capability in its LM Envision platform. It unleashes cost optimization and efficiency for cloud operations (CloudOps) and platform engineering teams working in existing and next-generation cloud services. This capability is crucial for business continuity and a competitive edge in an era where any investment and every experience matters.
“Rising cloud spend colliding with a down economy has raised visibility all the way to the executive and board level,” wrote Tracy Woo in the Forrester report, The Cloud Cost Management And Optimization Landscape, Q1 2024, published March 11, 2024. “Cloud leaders lean on these tools to help justify spend, forecast and budget current and future spend, optimize and identify waste, automate easy tasks, enforce good tagging hygiene, and better link usage to achieving business targets.”
The key differentiator with LM Envision is the detailed telemetry to help understand which resources are over or underutilized for teams to efficiently manage both cloud and on-premises infrastructure with actionable insights.
“As a company committed to modernization, we’re excited to unveil capabilities that level up AI-powered observability,” said John Kim, General Manager, Hybrid Observability, LogicMonitor. “Our powerful new LM Cost Optimization and expanded cloud-managed networking coverage offer a complete view for teams struggling with cloud billing clarity. Enterprises can finally anticipate their cloud spend and forecast accurately, which will be essential as they transition in their cloud journeys.”
LM Cost Optimization capabilities for scaling enterprises
By turning on the capability, LM Cost Optimization enables users to quickly activate cost management features as their infrastructure evolves, reducing or even eliminating the need for additional tools. Key features include:
- Multi-cloud spend in a single view
- Cloud Billing simplifies visualizing multi-cloud spend in a single view so users see cost and resource changes, making modifications easy and predictable bills the norm
- Out-of-the-box billing dashboards and filtered tags help users quickly observe detailed cost breakdowns, enabling data-driven decision-making over multi-cloud budgets
- Intelligent AI-powered recommendations
- Driven by the LM Envision platform, Cloud Recommendations delivers proactive and reactive cost-savings suggestions around capacity changes, unused resources, and more to ensure cost savings do not result in increased service outages
- This empowers users to make insightful resource utilization decisions that align with business needs, enhancing performance and cloud investment value
“LogicMonitor continues to be a valuable partner of ours, constantly innovating and adapting to our growing business needs,” said Rafik Hanna, SVP, Topgolf Technologies. “Their dedication to staying ahead of the curve ensures our operations run smoothly, allowing us to focus on what matters most to us – bringing more play to the world and delivering exceptional experiences to our Players.”
SOURCE: PRNewsWire