STOCKHOLM & AUSTIN, Texas--(BUSINESS WIRE)--Snow Software, the global leader in technology intelligence, and Anodot, the business monitoring company, today announced a new strategic partnership to help organizations solve the urgent challenge of managing rapidly growing and increasingly complex cloud costs.
Snow and Anodot will bridge the disciplines of IT asset management (ITAM) and finance operations (FinOps) together to address evolving issues associated with cloud cost management. As cloud usage rises rapidly across industries, companies are increasingly struggling to attain complete visibility into their spend across technologies and across multi-cloud environments, Kubernetes costs, cost variability and allocation, and bill complexity, resulting in missed opportunities to reduce cloud waste and overspending. The two companies are committing significant go-to-market and research & development investments, leveraging core technologies in their portfolios – Snow Atlas and Anodot Cost – to address this acute market challenge.
According to IDC, cloud spending will exceed $1.3 trillion by 2025. This spending includes everything from cloud infrastructure and application services to servers and storage, to professional and managed services. Cloud spending continues to surge, but organizations struggle to gain a complete picture of their cloud investment. While ITAM provides a view into the software used and FinOps helps organizations navigate the bill from their cloud service provider, there isn’t one holistic view available to leaders. Snow and Anodot are dedicated to solving this issue by offering a complete picture of cloud investments to every stakeholder across an organization that requires visibility of those resources from IT to FinOps to Engineering.
As a first step of the partnership, Snow is introducing a cloud cost management solution that enables granular cloud cost visibility and continuous cost monitoring for multi-cloud and Kubernetes environments—including Amazon Web Services, Microsoft Azure and Google Cloud Platform—and provides actionable savings recommendations. Snow Cloud Cost powered by Anodot offers an easy-to-use dashboard that enables attribution and tracking of costs across cloud providers, applications, services and lines of business in near real-time. The solution also provides accurate forecasting, anomaly detection and alerts, which eliminate cost spikes and foster a successful FinOps culture.
“We believe the traditional approach to managing cloud costs is no longer sufficient, and it’s time to address the next evolution of cloud cost issues,” said Vishal Rao, President and CEO of Snow. “Organizations that struggle to manage their investments often end up paying for more than they need. With our combined expertise, Snow and Anodot are uniquely positioned to make an immediate and meaningful impact to an organization’s cloud investment because we are bringing together two key disciplines – ITAM and FinOps. Snow has a long history of providing organizations actionable insight into technology investments that goes beyond IT asset management, what we call technology intelligence. With this partnership, we are bringing technology intelligence to cloud cost management to give our customers more control, more visibility and more decision-making power over their cloud investments.”
Snow’s vision for technology intelligence enables organizations to accelerate data-driven decision making by providing complete visibility into all technology within their organization, combined with built-in intelligence to optimize cost, usage and risk. To make this vision a reality, Snow is broadening its ecosystem of technology partners that will bring the highest quality data and insight from all technology domains into the Snow Atlas platform. Anodot is joining this expanding ecosystem, bringing their machine learning backed business monitoring expertise.
“Businesses across the board understand the need to cut expenses in this delicate period, and cloud costs are a significant part of this,” said David Drai, CEO and Co-founder of Anodot. “Yet as investment in cloud services swells, we are seeing a new era of complexities that requires a different approach. The need to address this evolving challenge has led to a sharp rise in demand for our cloud cost management tools, which Snow has recognized. The sum of our joint expertise is far greater than its parts, and we are excited about the ways this joint solution will help businesses across industries get a handle on their cloud management and costs.”
FinOps, an evolving cloud financial management discipline and cultural practice, is increasingly adopted by organizations around the world. With more than 1,500 company members and 5,300 individual members, the FinOps Foundation is dedicated to advancing people who practice the discipline of cloud financial management through best practices, education and standards. Snow has been an active member of the FinOps Foundation since July 2021 and currently has more than 35 FinOps certified team members across Sales, Product and Support. As cloud requirements continue to evolve, especially in FinOps, Snow is committed to contributing to FinOps Foundation working groups to collectively address cloud cost management issues with other industry leaders.
For further details about the Snow-Anodot partnership and to preview what’s ahead in cloud cost management, find Snow at FinOps X, the FinOps Foundation event in Austin, Texas on June 20-21 or learn more at https://www.snowsoftware.com/blog/building-a-bridge-between-itam-and-finops.
About Snow Software
Snow Software is changing the way organizations understand and manage their technology consumption. Our technology intelligence platform provides comprehensive visibility and contextual insight across software, SaaS, hardware and cloud. With Snow, IT leaders can effectively optimize resources, enhance performance and enable operational agility in a hybrid world. To learn more, visit www.snowsoftware.com.
About Anodot
Anodot is the business monitoring company that eliminates business blind spots by proactively monitoring business metrics, enabling companies to protect revenue, and manage cost. Leveraging AI and ML, Anodot’s augmented analytics proactively alert companies to revenue-critical business incidents and automates their remediation in real time. Anodot’s Cloud Cost Management solution helps FinOps teams reduce cloud waste and manage costs in multi-cloud and Kubernetes environments, providing actionable recommendations that can cut up to 40% on annual cloud spend. Anodot is trusted by numerous Fortune 500 companies to help slash time to detection and resolution for revenue-critical issues by as much as 80%.
