Practical Tips for Cloud Cost Governance

Cloud Cost Governance is a structured approach to managing and reducing cloud expenditures through reporting, communication, and automation, as outlined by Vantage. Key strategies include increasing tag coverage to measure costs accurately, implementing quick cost-saving measures such as switching CDN providers or utilizing AWS's Graviton instances, and enhancing accountability by assigning cost management tasks to team members using issue tracking systems. The process also involves showback and chargeback mechanisms to allocate cloud costs to specific departments accurately. Automation plays a crucial role in maintaining an optimal percentage of reserved instances, ensuring that cloud resources are used efficiently. Vantage offers tools and insights, such as untagged resources reports and cost allocation features, to facilitate effective cloud cost governance, helping teams better understand and manage their cloud expenditures.