Forum Discussion
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 virtual machines, virtual networks, load balancers, app gateway, storage, and other developer team tasks which is spinning the cost like water.
Need the steps to manage the cost and is there any alternative way to use the Azure resources with cost effective?
2 Replies
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 resourcesHope this helps!
