For many businesses, the cost of cloud services can quickly add up. However, with the right cost management tools and strategies in place, you can make sure that you are getting the most out of your Azure investment while keeping costs low. In this blog post, we will explore some of the key cost management options available on Azure to help ensure maximum savings.
Azure Cost Management
Azure Cost Management is a powerful tool that allows users to view, optimize, and control their cloud costs. With this tool, users can set budgets and alerts for budget overruns, track spending over time to identify areas where costs could be reduced, and analyze usage patterns for better forecasting. You can also use it to compare Azure prices across different regions or types of services to determine which one offers the best value. Additionally, you can use it to monitor resource usage in order to identify idle resources that may need to be shut down or scaled back.
Azure Reserved Instances
Another great way to save money on Azure cost management tool is by using reserved instances (RI). RIs allow you to reserve compute capacity at a discounted rate for up to three years in advance. This helps you reduce your overall compute costs by up 20-75%, depending on how much capacity you reserve and how long your reservation lasts. The longer the term of your RI commitment, the greater the discount will be. Additionally, RIs offer more flexibility than other types of commitments because they allow you to pay upfront or pay monthly over a three-year period.
Azure Hybrid Benefit
Finally, if your organization has existing Windows Server licenses with Software Assurance (SA) coverage from Microsoft’s Volume Licensing program, then you may be eligible for additional savings through the Azure Hybrid Benefit program. This program allows customers who have SA coverage on their Windows Server licenses to receive discounts when migrating those licenses into Azure virtual machines (VMs). Customers are eligible for a discount of up 45% off normal VM pricing when they use their existing licenses with SA coverage in Azure VMs.
By taking advantage of cost management tools like Azure Cost Management and reserved instances as well as programs like the Azure Hybrid Benefit program, organizations can maximize their savings on their cloud investments while still getting all the features they need from their cloud platform. With careful planning and implementation of these strategies and tools, businesses can ensure that they are making wise use of their resources while keeping costs low—allowing them to get more out of their investments in Azure!