Executives seek to gain control of cloud computing costs A CLOUDED VIEW OF COSTS By Bruce Christian The migration to the cloud continues rapidly, and according to McKinsey & Co., by 2024, most companies aim to spend $8 out of every $10 for IT hosting in the cloud. Morgan Stanley reported that CIOs say cloud computing will see the highest rate of IT spending growth in 2022. What agents in the channel should know – if they don’t already – is that cloud cost complexity also is growing. The ongoing rapid migration to the cloud combined with complexities in navigating cloud usage and costs has companies struggling to control their spending and minimize waste. Compounding these problems is the uncertainty of the economy and the question of whether a recession is just around the corner. According to a new study on the cost of cloud service by AI and DevOps cost management firm Anodot, companies face a cloud cost visibility crisis with implications on the bottom line. As cloud BUYERS SIDE 24 CHANNELV ISION | SEPTEMBER - OCTOBER 2022
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