The FinOps platform Finout has announced the release of its Cost Optimizer for AWS, which uses AI to reduce bills by up to 60%.
To save customers money, it evaluates changes in usage patterns and then identifies the optimal Reserved Instance capacity that a customer needs to meet its targets. Then, if usage drops, Finout sells the reserved capacity in the AWS marketplace.
According to Finout, Cost Optimizer is part of its broader platform and therefore doesn’t charge a specific fee for the service like other competitive solutions tend to do. Other solutions charge anywhere from 5% to 25% of the savings, Finout explained.
Other solutions included in the Finout platform are MegaBill, which consolidates third party SaaS providers into a single dashboard; Cost Governance, which allows teams to manage cloud waste, forecast spend, and detect anomalies; and Cost Allocation, which allows cost to be broken down by individual spend, team spend, or application spend.
“Cost optimization was the last missing piece to Finout becoming a single pane of glass for all of your FinOps needs,” said Roi Rav-Hon, CEO and co-founder of Finout. “Similar to how Datadog has become a single source of truth for observing and understanding the health of cloud systems, Finout has now become the only solution a company needs to fully understand, manage, and optimize their cloud bill.”