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Cost Optimization to help Finance Team
Dear All, I would need all the possibilities in Azure to optimize the cost which will help the finance and IT team with the budget. How can we control the cost while using Azure resources like v...
Recently we did the cost optimization in our organization. By performing the below mentioned steps.
1. Azure Reservations
- Identified resources with continuous usage (VMs, databases)
- Purchased Reserved Instances for 1 or 3 years
- Achieved discounts of up to 72%
- Locked in lower prices for long-term usage
2. Azure Savings Plans
- Utilized Savings Plan for Compute
- Committed to specific usage amounts (e.g., $100/hour for 1 or 3 years)
- Achieved substantial savings across compute services (virtual machines, containers)
- Realized discounts of up to 65% compared to pay-as-you-go pricing
- Benefited from flexibility and automatic discount application to eligible compute resources
Hope this helps!