Friction between finance and tech leaders preventing controlled cloud spending

Photo by Guillaume Meurice

Vertice has announced the results of its global survey, which reveals that a lack of alignment between finance and tech leaders is preventing companies from controlling cloud spending.

Amidst cloud costs rising by an average of 35% year on year, Vertice surveyed 600 finance and tech leaders and found that cutting cloud spending was the highest priority for finance leaders, with 78% listing it among their top three cost-saving priorities and 33.5% listing it as their number one priority.

Only 9% of technical leaders say reducing cloud costs is a top concern; 4 out of 10 say their priority is hiring skilled cloud employees.

55% of finance leaders blame a lack of transparency from tech leaders, with 44% saying they can’t get visibility of costs and 39% struggling to negotiate costs because technical staff own relationships with vendors. 55% of tech leaders say tension is caused by non-technical staff lacking the knowledge to understand cloud investments.

Eldar Tuvey, CEO and co-founder of Vertice says that “with companies grappling with volatile cloud bills and costs rising by as much as 500% in a single year for some organisations, it’s critical for CFOs and CIOs to have a unified strategy for cloud cost optimisation.

“CFOs are demanding access to accurate forecasting, with shared visibility and automation tools to help them act on cost-saving initiatives. Automating cloud cost optimisation leads to bigger savings of time and money, and frees up resources for growth and innovation.”