One of the core truths driving hybrid multicloud adoption is that different public cloud providers excel in different areas. This truth also extends to cloud pricing. Relying exclusively on a single cloud provider is a sure-fire way to overpay. According to 451 Research’s Cloud Price Index[3], companies that pick from multiple cloud providers based on price can save an average of 45% for simple applications like compute and storage.
Cost optimization is all about placing the right workloads with the right providers—or for some workloads, bypassing cloud altogether. Certain workloads may be especially well-suited to run on a particular cloud; in this case, it may make sense to pay a premium to work with that provider. It’s important to look at each workload individually, and make strategic decisions aimed to balance cost and performance.
You must also be careful to avoid proprietary offerings that could lock you in to a particular cloud provider by design. Instead, look for open-source solutions, such as Kubernetes or Terraform.
To avoid surprises, track cloud costs and adjust your architecture over time
One of the key challenges of cloud cost optimization is that the costs can feel more abstract than the upfront expenses involved with on-premises infrastructure. Keeping track of pay-as-you-go costs can feel like a full-time job, which is why it’s often easier to ignore them and just leave your existing cloud architecture running untouched.
Today’s cloud services and the network infrastructure that supports them make it easier than ever to set up new connections or virtual machines. However, it’s just as easy to forget about those components as your business needs change, leaving them to generate unnecessary costs in the background.
Working with the right networking partner can be essential to addressing this issue. An intuitive web dashboard makes it easy for businesses to both understand the full costs they’re racking up with their cloud environment, and easily remove unneeded cloud services to keep costs down.
Address the hidden costs of cloud with Equinix Fabric
Equinix Fabric™ is a software-defined interconnection solution that enables a more cost-effective approach to hybrid multicloud networking. It can address data egress costs by providing an alternative to cloud storage: colocation in an Equinix IBX® data center paired with direct, private interconnection across our global footprint. Equinix facilities offer on-ramps to all major cloud providers, enabling you to deploy cloud-adjacent infrastructure from wherever you are. For data you want to leave in the cloud, Equinix Fabric also provides more cost-effective egress than the internet.
Equinix Fabric is available in more than 50 metros across the world, with new locations being added often. This can help you unlock the cost benefits of a vendor-neutral hybrid multicloud strategy by ensuring you’re able to access cloud on-ramps for specific providers, when and where you need them.
Finally, the Equinix Fabric web portal gives you complete control over your cloud infrastructure and the costs it creates. Tracking pricing details all in one place helps you understand your total cost of ownership across all the providers you work with. The ability to remove or adjust connections with a few simple clicks means you can easily identify and remove unnecessary costs.
To learn more about Equinix Fabric and how it can support a cost-effective hybrid multicloud architecture, read the data sheet today.
[1] 451 Alliance, “Cloud Repatriation: Are Companies Moving Away From the Public Cloud?” Pedro Schweizer, November 2021.
[2] S&P Global Market Intelligence, “Data center interconnection faces cloud-native competition”. March 2022.
[3] S&P Global Market Intelligence, “Why 76% of companies are adopting multicloud and hybrid cloud approaches”. Jean Atelsek, 2021.
