6 Cloud Computing Trends: Costs, Hybrid Cloud, Economy
Here’s six interesting results from Flexera’s new cloud report on businesses top cloud challenges in 2023, overspending, cloud waste, hybrid cloud, cost optimization, and if companies plan to spend more or less during an uncertain economy.
Cloud Spending 18 Percent Over Budget On Average
Public cloud spending was over budget by an average of 18 percent, up from 13 percent compared to the previous year.
Respondents indicated a 39-percent increase year over year in the amount of cloud spend over budget. With this in mind, it’s easy to see why FinOps continues to evolve and grow as a cultural practice and financial management discipline for many cloud customers.
Respondents remain bullish on cloud spending in 2023, as 30 percent expect spend to increase in next twelve months.