Thursday, 18 May 2023 09:00 AM
Company Update
SAN FRANCISCO, CA / ACCESSWIRE / May 18, 2023 / Cloudthread has officially announced the expansion of its Cloud cost management platform with the release of its Cloud Savings Hub. The Cloud Savings Hub provides companies with insightful data and optimizations based on their cloud service utilization. The service also integrates Cloud savings mechanisms, allowing users to take advantage of a wide variety of savings.
"Even when the desire to save is there, it's challenging and time-consuming to surface all the waste, convert those opportunities into actualized savings, and have confidence in cloud cost efficiency as you continue to grow. This is what Cloudthread solves," said CEO Daniele Packard.
Historically, growing companies have had a blank-check mentality when it comes to IT and cloud spending. In a climate of growth at all costs, efficiency takes a back seat, and there's no shortage of stories where big tech companies have visited their Cloud bill and reduced spending by over 25%. Cloudthread aims to bring more clarity to the situation, allowing businesses to utilize their resources more efficiently and add cash to the bottom line.
In short - the blank-check mentality when it comes to Cloud costs is over and Cloudthread is helping transition to an era of Cloud cost efficiency.
Savings Hub Is the Solution
Savings Hub is designed to reveal all Cloud waste, integrate savings action into engineering workflows, and analyze savings progress. By providing detailed information about each savings opportunity, users can easily filter and prioritize to ensure their team spends more time on the most impactful activities. Cloudthread highlights opportunities to use resources more efficiently as well as insights to take advantage of committed use discounts.
In today's economic climate, finance is increasingly interested in lowering Cloud costs. However, there's an inherent complexity in evaluating cost savings and tradeoffs in the Cloud. This creates considerable overhead for CTOs and Heads of Infrastructure. Savings Hub helps to bridge the gap between engineers and financial teams.
With Savings Hub, companies can accelerate their growth with confidence in how they are optimizing their Cloud spend. Infrastructure analytics are running 24/7 to monitor usage patterns and proactively recommend ways to improve efficiency without sacrificing performance or security.
Cloudthread believes that by leveraging data-driven solutions to uncover opportunities for savings, businesses can unlock greater value and financial returns. This led to the development of the always-on Cloud waste detective, Savings Hub. An all-in-one platform aiming to provide businesses with an easy-to-use solution that simplifies Cloud cost optimization.
About Cloudthread
Cloudthread is a tech startup and YCombinator graduate. It was founded by Daniele Packard, Ilia Semenov, and Thomas Yopes who all grappled with Cloud cost efficiency as IT consultants, engineering leaders, and Cloud economists. These struggles provided the inspiration for the ideas and development of Cloudthread and the Cloud Savings Hub.
The startup stands apart from other Cloud cost management companies that mainly concentrate on automating committed use discount mechanisms of Cloud providers. Instead, Cloudthread identifies opportunities for optimizing usage and assists companies in engaging their engineers to take necessary actions.
Many Cloud cost management practitioners have the visibility they need but still struggle with Cloud waste build-up. Cloudthread's goal is to reduce unnecessary expenses in Cloud services, engage engineers, track savings, and activate Cloud FinOps initiatives. The Cloud Savings Hub is a culmination of these efforts and aims to empower companies by providing the tools needed for cost-reduction clarity and integration.
To find out more about Cloudthread and Savings Hub, follow below:
Press Contact: Jamie Kingsley [email protected]
SOURCE: Cloudthread