Tag: Savings Plans

If you or your organizations are in the midst of exploring generative AI technologies, it’s important for you to be aware of the investment that comes with these advanced applications. While you are aiming at the expected return on your generative AI investment, such as, operational efficiency, increased productivity, or improved customer satisfaction, you should also have a good understanding of levers you can use to drive cost savings and enhanced efficiency. To guide you through this exciting journey, we will publish a series of blog posts filled with practical tips to help AI practitioners and FinOps leaders understand how to optimize the costs associated with your generative AI adoption with AWS.

In this article, we will show you how to define a chargeback mechanism that allocates Savings Plans purchased in the management account, linked accounts or both to recipient accounts of Savings Plan discounts. You can identify accounts that received Savings Plans discounts and the appropriate amount to chargeback to them based on their specific usage.

Starting today, you can easily model your next Savings Plans purchases and evaluate the impact on cost, coverage, and utilization in the AWS Billing and Cost Management Console. You can input your own commitment amount or generate a recommended commitment that is designed to maximize your cost savings. Furthermore, you can customize your analysis by selecting a specific lookback period and/or excluding expiring Savings Plans to plan for upcoming renewals.

In the 3rd part of our 4-part Starting your Cloud Financial Management Journey series, we’ll cover the things you should consider and the tools you can use to forecast and plan for your existing or net-new workloads.

Cloud cost optimization is often implemented as a reactive activity, despite being intrinsically proactive by nature. By implementing these 5 cloud cost optimization best practices, you can ensure proactivity as you maximize realized business value and take advantage of the flexibility, agility, and scalability of cloud technologies and services.

In this blog, we’ll share tools you can setup, pricing models you can take advantage of, and services you can use that will help you identify cost optimization opportunities in your workloads.

Hope you all had a memorable holiday and are ready to kickstart your Cloud Financial Management (CFM) effort for 2023. We were busy in Q4 last year and want to make sure you don’t miss anything. If you just started following our blog channel, we’ve provided reference links in this blog so you have the […]

Savings Plans is a flexible pricing model offering lower prices compared to On-Demand pricing, in exchange for a specific usage commitment (measured in $/hour) for a one or three-year period. AWS offers three types of Savings Plans – Compute Savings Plans, EC2 Instance Savings Plans, and HAQM SageMaker Savings Plans. Compute Savings Plans apply to […]

Use multiple overlapping Savings Plans to reduce commitment risk, increase discount coverage, and relieve the burden of long-range usage predictions.

AWS pricing strategies offer you the flexibility to choose the most effective way to manage your costs and still keep the performance and capacity you require. Learn about Savings Plans and Reserved Instances and how you can decide what is right for your business.