ParkMyCloud, a company helping enterprises automatically identify and eliminate wasted cloud spend, has expanded its cloud cost optimization platform to include “rightsizing.” Rightsizing is a way to reduce wasted cloud spend by resizing cloud resources. This would provide significant savings, just by moving a virtual machine down one size tier, 50% or more.
Cloud resources are often so overprovisioned that multiple size transitions are possible, raising that savings to 75% or more, stated ParkMyCloud.
The righsizing feature joins ParkMyCloud’s ‘parking’ functionality, which automatically schedules non-production cloud resources, such as those used for development, testing, staging, and QA, to turn off when they’re not needed.
With a typical schedule that parks a resource for 12 hours each night and on weekends, users can save 65% of the cost of their cloud resources, according to ParkMyCloud.
Combined with rightsizing, this means that an average cloud user would be poised to reduce overall costs in their cloud environment from 50-80% or more.
This release marks the first step to a fully automated instance ‘SmartSizing’, which ParkMyCloud will release in January 2019. SmartSizing will take rightsizing a step further by actually automating size corrections, requiring little management on the part of the user.
“With each release of the ParkMyCloud platform, we’re delivering customers another piece of the puzzle they need to fully automate multi-cloud cost optimization,” said Bill Supernor, ParkMyCloud’s Chief Technology Officer (CTO). “We developed rightsizing in close contact with customers based on their needs, and initial feedback has been positive.”