Hitachi Vantara Tackles Cloud Cost Paradox with New Cloud FinOps Services

Rhea-AI Summary

Hitachi Vantara has launched Cloud FinOps Services to optimize cloud cost management for organizations deploying hybrid and multicloud services. This service targets the common issues of rising costs due to ungoverned consumption and operational inefficiencies. According to IDC, many enterprises plan to enhance cloud cost management by 50% through 2022. Customers can achieve an average of 30% savings by leveraging Hitachi's expertise. The services address complexities in managing cloud environments and provide tools for real-time visibility, cost control, and resource optimization.

Positive

• Launch of Cloud FinOps Services aimed at optimizing cloud costs.
• Customers can average 30% savings through optimization services.
• Enhanced visibility and management across cloud environments.

Negative

• None.

SANTA CLARA, Calif., Sept. 23, 2021  /PRNewswire/ -- Hitachi Vantara, the digital infrastructure, data management and analytics, and digital solutions subsidiary of Hitachi Ltd. (TSE: 6501), today introduced Hitachi Cloud FinOps Services. This new offering provides a portfolio of services designed to help organizations optimize cloud economics. The end goal: help organizations save money as they deploy their hybrid, multicloud or distributed cloud services - while still maintaining the proper agility and scale to deliver their business and IT results.

The Cloud Cost Paradox
Cloud is essential to almost every enterprise in every industry because it accelerates innovation, agility, and growth. However, as companies operating at scale deploy more cloud services, they often find that ungoverned on-demand consumption, and unexpected management and operational costs, are eating up promised cost savings and quickly driving budgets to overrun. Indeed, IDC predicts increased investment in public cloud cost management through 2022 as enterprises seek to cut cloud waste by 50%.¹ The challenges from inadequate automation, the lack of visibility across cloud accounts, and duplicate and idle resources from poor application architectural design can add up to thousands — or even millions — of dollars in wasted expenditures every year.

New Cloud FinOps Services for Cloud Cost Optimization and Management 
Hitachi Cloud FinOps Services addresses the cloud cost paradox by optimizing cloud cost and investments by providing visibility and management across a client's cloud environments, enabling them to:

• Gain control over cloud spend with real-time visibility, right architectural choice and predictable usage.
• Get more value from the cloud by balancing cost, speed, and quality.
• Future-proof the organization with best-in-breed cloud services.
• Customers, on average receive a 30% saving through our cloud cost optimization services.

"Managing cloud costs and investments across multiple cloud environments is complex, and it's easy to overspend on cloud services with limited visibility and predictability on utilization," said Roger Lvin, president, Digital Solutions Business Unit, Hitachi Vantara. "Hitachi Cloud FinOps Services addresses this complexity and lowers the total cost of ownership through mapping spend data, tagging, allocating shared costs equitably, and recommending data-driven cost take-out measures."

Hitachi Vantara's service portfolio is built on decades of expertise in cloud, application, data, and infrastructure modernization. The services are delivered through a unique E3 methodology, which is a comprehensive application and data modernization approach that enables clients to envision, evaluate and execute a FinOps-led program to address the complexity of managing cloud environments. With Hitachi Cloud FinOps Services customers receive a turnkey solution that provides the following outcomes:

• Assess the customer's current cloud cost relative to benchmarks, industry standards and provide a recommendation on where costs can be optimized.
  
  
• Implement changes that will take out costs from cloud platforms and enable the effective use of real-time cloud cost decision support. Cloud experts map spending data to the business, define budgets and forecasts, set tagging strategy and compliance, build AI-enabled cost anomaly detection, budget alerts for cost visibility, cost recovery and predictability.
  
  
• For enterprises that need continuous as-a-Service support for managing cloud costs, Hitachi Vantara offers an always-on, managed service to optimize and govern cloud spend against business objectives. This includes automated enterprise-wide cloud consumption reporting, resource tracking, cost monitoring and continuous cost optimization through right-sizing and usage of correct cloud services. Hitachi Vantara delivers automation and integration for managing cloud cost metrics and supports cloud service lifecycle management through financial analysis and cost management.

Deluxe, a Trusted Payments and Business Technology™ company, that supports millions of small businesses, thousands of financial institutions, and hundreds of the world's most valuable brands recently turned to Hitachi Vantara. The company operates at significant scale processing more than $2.8 trillion in annual payment volume.

"Hitachi Vantara's services have helped to streamline our journey to becoming a nimble technology company," said Deluxe Chief Information Officer Michael Mathews. "In addition to providing ongoing, yearly cost reductions across cloud environments and other savings, they've helped us right-size our core infrastructure based on actual consumption, increase our budget capacity for new workloads in cloud, and improve the operational and financial transparency into our technology and cloud operating environments."

If not managed properly, the cloud cost paradox will cost organizations significantly in wasted expenditures. Hitachi Cloud FinOps Services gives customers the data, insight and expertise to know better, allowing them to do their cloud, their way.

Availability
Hitachi Cloud FinOps Services are available today. To learn more visit https://hitachivantara.com/Modernize

Additional Resources

• Blog: Cloud Costs Through the Roof? Don't Worry — We've Got You Covered
• Point of View: Cloud Cost Optimization with FinOps
• Video: A Balanced Approach to Cloud Cost, Speed and Quality. With Hitachi Cloud FinOps Services
• Video: Customer Journey: Lowering Cloud Cost and Driving Innovation. Conversation with Michael Mathews, CIO at Deluxe

Connect With Hitachi Vantara

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About Hitachi Vantara
Hitachi Vantara, a wholly-owned subsidiary of Hitachi, Ltd., guides our customers from what's now to what's next by solving their digital challenges. Working alongside each customer, we apply our unmatched industrial and digital capabilities to their data and applications to benefit both business and society. More than 80% of the Fortune 100 trust Hitachi Vantara to help them develop new revenue streams, unlock competitive advantages, lower costs, enhance customer experiences, and deliver social and environmental value. Visit us at www.hitachivantara.com.

About Hitachi, Ltd.
Hitachi, Ltd. (TSE: 6501), headquartered in Tokyo, Japan, is focused on its Social Innovation Business that combines information technology (IT), operational technology (OT) and products. The company's consolidated revenues for fiscal year 2020 (ended March 31, 2021) totaled 8,729.1 billion yen ($78.6 billion), with 871 consolidated subsidiaries and approximately 350,000 employees worldwide. Hitachi is working to increase social, environmental and economic value for its customers across six domains; IT, Energy, Industry, Mobility, Smart Life and Automotive Systems through Lumada, Hitachi's advanced digital solutions, services, and technologies for turning data into insights to drive digital innovation. For more information on Hitachi, please visit the company's website at https://www.hitachi.com.

HITACHI is a trademark or registered trademark of Hitachi, Ltd. All other trademarks, service marks, and company names are properties of their respective owners.

¹ IDC FutureScape: Worldwide Cloud 2021 Predictions, Doc # US46420120, October 2020

 

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SOURCE Hitachi Vantara Corporation

FAQ

What are Hitachi Vantara's Cloud FinOps Services?

Hitachi Vantara's Cloud FinOps Services provide a portfolio designed to help organizations optimize their cloud economics and reduce costs associated with hybrid and multicloud deployments.

How much can customers save with Hitachi's Cloud FinOps Services?

Customers can achieve an average saving of 30% through Hitachi's cloud cost optimization services.

Why are Cloud FinOps Services important for businesses?

These services help organizations manage and control their cloud spending, addressing complexities and potential overspending due to ungoverned cloud usage.

What challenges do organizations face with cloud costs according to IDC?

IDC predicts that enterprises are addressing challenges like ungoverned consumption and operational costs, aiming to cut cloud waste by 50% through improved cloud cost management.

When were Hitachi's Cloud FinOps Services launched?

Hitachi Cloud FinOps Services were launched on September 23, 2021.