ManageEngine, the enterprise IT sector of Zoho Corp, has announced that its cloud cost management tool, CloudSpend, is now available on Google Cloud Platform (GCP). This development is set to decrease redundant cloud costs and mitigate the issue of cloud sprawl. The tool is now available across the three largest public cloud computing platforms globally, including AWS and Microsoft Azure.

Through its cost optimisation services to GCP, CloudSpend identifies redundant resources and reduces the risk of costly cloud sprawl. It quickens cloud expense tracking, budgeting, and forecasting via AI-driven models. By widening its reach to the three primary public cloud computing platforms, providing its services in multi-cloud environments is expected to streamline operational expenses for enterprises.

The tool has been enhanced with a cost anomaly detection feature to monitor and manage cost blind spots across multiple cloud service providers. 'ManageEngine estimates that organisations operating in a multi-cloud environment often under-utilise their cloud resources, with their cloud usage topping at 55%. We believe that CloudSpend will help businesses rise above such challenges and advance in their cloud maturity journey by offering the visibility to stay on top of their investments,” says Srinivasa Raghavan, director of product management at ManageEngine.

Public cloud adoption is expected to reach $679 billion in 2024 as organisations diversify their business operations across multiple platforms. Investment in an effective cloud cost observability and optimisation platform, such as CloudSpend, will be crucial to maintain cloud finances. CloudSpend, boosted with smart forecasting features helps reduce operational expenditure while bridging the gap between capacity planning and cost optimisation for resources running in multi-cloud setups.

CloudSpend comes with cost anomaly detection, which can identify unexpected cost increases or resource usage deviating significantly from the norm. It also offers insights on hidden and potentially inflated costs.

The tool has a wide range of features including Business Units for chargebacks and accountability, budgeting and forecasting in multiple currencies and usage-based AI-driven forecasting models, and Resource Explorer for cost visibility. It caters to businesses of all sizes with free tracking of costs up to $3,000 per month of spending on GCP, AWS and Azure cloud.

Overall, the company states the tool is an advanced step towards efficient cloud cost management for enterprises across multi-cloud environments. With multiple features and a wide footprint, CloudSpend is another milestone for ManageEngine in its pursuit of providing solutions for enterprise IT management.