What is Cloud Expense Management and what are the Benefits?
Even if you are unfamiliar with exactly what it is, chances are that you have heard about the cloud by now. Not the white things in the sky that we can gaze out and determine what they look like, but rather an online place where we can store our files and data. While the idea of this is great, many people don’t know exactly how the cloud works or how to budget for the cloud space that their business uses. That’s why ACR Solutions, LLC offers Cloud Expense Management services, often shortened to CEM. Today we are going to discuss exactly what CEM is, how it works, and what the benefits are.
What is CEM?
Cloud Expense Management, also known as cloud cost optimization or cloud cost management, is the process of planning the needs and subsequent costs that an organization will have associated with their cloud technology. This process involves finding affordable and cost-efficient methods of utilizing the available cloud storage. Cloud technology is essentially the modern-day filing cabinet. What data will you be storing there, how will you organize it, who will manage it, and how can you ensure that it is secure? All of these questions are part of determining your needs and it is only once you determine your needs that you can determine the cost. Cloud Expense Management services help you to answer all of these questions.
The Benefits of CEM
Using a CEM application comes with a series of benefits. A CEM application allows you to manage disparate vendors and costs for your hybrid workforce, secure and strengthen governance protocols with near real-time visibility and controls, and gain deeper insights for better financial and operational outcomes. It is estimated that by 2025 about 51% of IT spend will be on public cloud services, but of those at least 80% will overrun their budget on their multi-cloud model. 68% of all companies are still unable to get valuable insights or benefits from their cloud data.
In short: cloud usage will only continue to increase, people continue to overpay, and many people don’t reap the benefits of cloud services.
That is why CEM services are so beneficial, allowing you to have experts who will simplify, manage, and optimize your cloud network. The benefits include:
- We will simplify the costs and changes associated with your multi-cloud network
- We will manage inventory, usage, access, specific data, policies, and more
- We will optimize AI-driven costs, accessibility, budgeting, analysis, and more
How do CEM Services Work?
With a multi-cloud environment, you need to be prepared to handle the challenges as your cloud grows in size, scope, complexity, and costs. Also, the more expansive the cloud network the more you will face security risks. Like Mick Jagger says in the Rolling Stones song, “Hey, you, get off of my cloud!” You need to make sure that your cloud data is simplified, managed well, and optimized, but you also need to ensure that it is secure. A full lifecycle Cloud Expense Manage platform for IaaS and UCaaS provides you with tools that allow for all of the benefits of CEM so that your organization can make the most of your multi-cloud network options.
Contact the Cloud Expense Management Experts
We hope that this has given you a better idea about the importance of Cloud Expense Managements. ACR Solutions, LLC is here to be your trusted advocate to solve your telecom and technology needs so that you can store your data on the cloud with comfort and security. Give our team a call at 321-593-0255 or fill out our contact form to send us a message and one of our experts will get back to you as soon as possible. Let’s tackle your CEM needs together!