Cost Intelligence and Billing Engine are now generally available from Spot by NetApp, expanding the company’s integrated, holistic portfolio of FinOps solutions

SAN JOSE, Calif.--(BUSINESS WIRE)--Jun. 20, 2024-- NetApp® (NASDAQ: NTAP), the intelligent data infrastructure company, today announced that Spot by NetApp has achieved the FinOps Certified Platform certification from the FinOps Foundation, validating the platform's ability to provide the depth and breadth of capabilities organizations need to practice sound cloud financial management. Also, Spot by NetApp has expanded its certified platform with the general availability of its Cost Intelligence and Billing Engine solutions.

As organizations move increasing amounts of their workloads to the cloud, especially to fuel the development of AI applications, balancing the competing needs of infrastructure and financial efficiency becomes more difficult. Overprovisioning cloud resources results in wasted expenses, but under-provisioning can slow business operations and stifle innovation. The traditional approach of standalone FinOps tools, with their focus on cost cutting, fall short of meeting these evolved requirements to deliver cost-effective yet high-performance cloud infrastructure.

Spot by NetApp closes this technology gap by delivering a holistic, integrated portfolio of FinOps solutions that supports an organization’s intelligent data infrastructure. With its breadth of capabilities, organizations can unify cloud cost and infrastructure optimization, deliver analytics to maximize the efficiency and impact of every dollar spent in the cloud, and drive digital business growth. Becoming a FinOps Certified Platform helps Spot by NetApp enable its customers to successfully adopt cloud best practices aligned with the FinOps standards.

“According to the FinOps Framework, implementing a productive FinOps strategy requires effective collaboration between teams. Effective collaboration requires full access to both financial and cloud operations data,” said Mike Fuller, CTO of the FinOps Foundation. “A thoughtful and comprehensive approach to FinOps helps organizations maximize the business value of the cloud so they can more easily achieve their business goals. We recognize Spot by NetApp as a FinOps Certified Platform due to its ability to deliver software that helps organizations successfully adopt FinOps practices.”

To support this comprehensive approach to FinOps, Spot by NetApp has integrated the cloud cost management capabilities of Cloudcheckr into its portfolio with the introduction of two new product modules:

• Cost Intelligence: This product delivers panoramic visibility with actionable insights on cloud costs, resources, and usage across multi-cloud environments through interactive dashboards and drill down reports. To support the cost optimization process, Cost Intelligence provides best practice checks that immediately flag problems and help users optimize spend, effectively utilize resources, reduce waste, and address misconfigurations.
• Billing Engine: This product provides comprehensive billing reporting with intelligent cost allocation capabilities including chargeback and showback. With this product, businesses can better track and manage cloud spend across different groups to drive accountability.

FinOps teams will benefit from a single source of truth for financial and cloud operations data. The release of Cost Intelligence and Billing Engine improves the effectiveness of all solutions in the Spot by NetApp portfolio. For example, organizations will be able to use Spot Ocean and Elastigroup’s machine learning and AI analytics together with Cost Intelligence’s advanced cost analysis to deliver the most accurate optimization recommendations. Teams can further simplify their FinOps practices by automatically applying those recommendations to their infrastructure.

"The expansion of our integrated FinOps offering and becoming a FinOps Certified Platform is a true validation of Spot by NetApp's vision and approach to leveraging data and technology to help customers get the most from their cloud investments,” said Haiyan Song, Executive Vice President of Cloud Operations at NetApp. “Our comprehensive and integrated portfolio spans financial management and continuous cloud infrastructure optimization. We continue to innovate and evolve our cutting-edge AI powered solutions, harnessing the intelligence from the vast workloads and infrastructure under management by Spot by NetApp to provide critical insights in FinOps management and enable autoscaling and continuous optimization. Expanding our FinOps offerings with Cost Intelligence and Billing Engine is another step forward in our ongoing mission to support our customers and unlock more value from the cloud.”

"Utilizing Spot by NetApp's tools through RealCloud has been a game-changer for our FinOps operations,” said Luis Martinez, Cloud and Network Infrastructure Manager at Genial Investimentos. “Through intelligent automation and advanced visibility provided by these solutions, we have significantly optimized our cloud costs while increasing operational efficiency. Our partnership with Spot by NetApp and RealCloud has enabled us not only to reduce expenses but also to reinvest those savings into innovation and strategic growth for the company."

To learn more about the Spot by NetApp solution for FinOps, visit the Spot by NetApp booth #G3 at the FinOps X conference running from June 19-22 at The Marriott Marquis, San Diego

Additional Resources

• Helping Companies Go Beyond Savings with Spot by NetApp for FinOps
• Cost Intelligence: Reduce costs through actionable insights on your cloud environment, all in one place
• Billing Engine: Streamline invoicing with a flexible, customizable billing engine

About NetApp

NetApp is the intelligent data infrastructure company, combining unified data storage, integrated data services, and CloudOps solutions to turn a world of disruption into opportunity for every customer. NetApp creates silo-free infrastructure, harnessing observability and AI to enable the industry’s best data management. As the only enterprise-grade storage service natively embedded in the world’s biggest clouds, our data storage delivers seamless flexibility. In addition, our data services create a data advantage through superior cyber resilience, governance, and application agility. Our CloudOps solutions provide continuous optimization of performance and efficiency through observability and AI. No matter the data type, workload, or environment, with NetApp you can transform your data infrastructure to realize your business possibilities. Learn more at www.netapp.com or follow us on X, LinkedIn, Facebook, and Instagram.

NETAPP, the NETAPP logo, and the marks listed at www.netapp.com/TM are trademarks of NetApp, Inc. Other company and product names may be trademarks of their respective owners.

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Media Contact:
Kenya Hayes
NetApp
kenya.hayes@netapp.com

Investor Contact:
Kris Newton
NetApp
kris.newton@netapp.com

Source: NetApp