Cloud Service Costs Rise During Pandemic
The COVID-19 pandemic has increased the need for cloud computing services. Companies are racing to meet the demand for cloud computing tools needed for their remote workers. While also battling the rising costs of the cloud. There are a lot of company budgets being stretched as companies search for more affordable cloud costs.
“The corporate shift to the cloud has accelerated, with businesses last year spending an estimated $96.4 billion on cloud infrastructure services”
This cloud usage boom has positively impacted the big cloud companies like Amazon, Microsoft, and Alphabet Inc. The cloud services industry leader, Amazon, said its cloud usage grew 33% in the first quarter to $10.22 billion. This is good for cloud providers and the cloud industry. However not for the companies who need to expand their cloud usage while struggling with the economic impact of the pandemic.
The biggest companies pay hundreds of millions of dollars every year for their cloud services. Many smaller companies’ cloud budgets are being optimized to decrease the financial strain from the pandemic. These businesses are finding that they are overestimating their needs and have been paying too much. Companies have found that their cloud bills have increased even when the cloud use decreases because “the applications had to be kept running”.
Experts recommend keeping your cloud budget updated and tuned up. Cloud providers can charge plenty of hidden fees which makes it important to know how much your business needs and how much you are paying for.
Ostra not only specializes in protecting business data for remote workers with elite security but also keeps costs affordable and makes budgeting predictable.
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