LIBERTY LAKE, Wash., June 27, 2023 (GLOBE NEWSWIRE) -- Vega Cloud, the cloud financial management software company, announces a major new release of its FinOps platform for large enterprises. The SaaS-based system, which is designed for companies that spend tens of millions of dollars a year on cloud infrastructure and applications, now includes a benchmark scoring feature to help companies understand which applications are performing optimally, and a gamification feature to incentivize internal IT teams to optimize their use of cloud resources.
In related news, Vega Cloud announces that Willy Sennott, EVP of FinOps at Vega Cloud, has joined the Governing Board of the FinOps Foundation, which is holding its annual conference this week in San Diego. In this role, Sennott will share his expertise and experience with the broader FinOps practitioner community.
Enterprise FinOps Platform
Vega Cloud’s FinOps platform has been in-market since 2019 and is being used by large enterprises across vertical markets to save an average of 22% per year on their cloud spend. The full-function platform is built through the FinOps lifecycle to empower teams -- from engineering to procurement -- to connect, manage, automate and optimize multi-cloud environments and reduce cloud spend across the enterprise. Companies can get up-and-running in minutes and Vega Cloud guarantees 10% minimum savings.
Vega Cloud estimates that companies will waste over $500 billion on cloud infrastructure between now and 2030. This stems from a tendency companies have to over-provision their infrastructure and the complex nature of cloud environments, which makes it hard for IT pros to see how their infrastructure is being used. Vega Cloud is addressing these issues with the launch of the new infrastructure and application benchmarking and gamification features.
VScore Benchmarking
Vega Cloud has developed a proprietary benchmark scoring system called Vscore, which aims to provide IT professionals with visibility into how their cloud infrastructure and applications are performing relative to other infrastructure and applications in their environment. Additionally, the users can measure their cloud cost performance against industry standards, encouraging them to further optimize their spending and drive greater efficiency.
“It can be difficult for a company to understand which infrastructure and applications are performing optimally,” said Sennott. “Is it the application that has the lowest storage costs? What about workloads that use cloud-native technology? The reality is that it’s all of these factors and more. VScore is a simple way for organizations to make sense of their cloud investments and prioritize additional optimization work in the future.”
Cloud Heroes Gamification
The Cloud Heroes feature in the new Vega Cloud release enables users to turn financial management into an engaging and enjoyable end-user experience. The Vega Cloud platform identifies IT professionals who are optimizing cloud resources and tracks how much each person has saved. The intention is to encourage cost optimization throughout the IT organization, change cloud behavior and reward the top performers.
In addition to VScore and Cloud Heroes, the updated Vega Cloud platform includes improved visibility into cloud spend data, so users can take even more control of their cloud finances, and up-to-the minute alerts on cloud spend anomalies as well as recommendations for optimization.
“It’s never a question of if a company wants to optimize its cloud resources -- everyone wants to -- but rather do they know how and are they committed to the process,” said Kris Bliesner, CEO at Vega Cloud. “Benchmarking and gamification give our customers the tools they need to make cost optimization identification and execution easier and more rewarding. We think these improvements are going to have a measurable impact on our customers' cloud spend.”
The new release of the Vega Cloud Enterprise FinOps platform is currently in private preview and will be available for customers in July.
About Vega Cloud
Vega is a Software as a Service (SaaS) platform for enterprise cloud optimization. Vega unlocks the power of public cloud infrastructure, giving businesses the freedom to innovate and efficiently deliver world-class products and services. Vega combines scale management with speed and efficiency to drive business outcomes that align with key business goals. Public Cloud infrastructure isn't just for architects or DevOps engineers anymore. Vega puts the power of fully optimized infrastructure to work for your business.
For more information about Vega Cloud, visit https://www.vegacloud.io.
Contact:
Kevin Wolf
kevin@tgprllc.com
