According to a report conducted by Boomi alongside Forrester Research, almost three quarters of global companies exceeded their cloud budgets last year. Issues such as excessive storage and overconsumption of bandwidth continue to be challenging for many organizations.
The report surveyed 420 cloud decision makers globally. While 65% of respondents stated they were prioritizing cloud cost management and optimization (CCMO) tactics early in the cloud development process, proactive strategies at the architectural level were not as common. Only 40% of respondents contained costs at the solution architecture stage, with a mere 6% having proactive cloud cost remediation strategies.
More than half of the respondents (52%) admitted they lacked a strategy to address excessive storage, and 42% struggled to solve bandwidth overconsumption. Additionally, 44% of respondents lacked a general integration strategy.
Data management was identified as the most challenging area of cloud spending to track, followed by egress fees. The report also highlighted potential future challenges in cloud cost management related to IT ops, hybrid work, software creation platforms, and emerging FinOps tools.
Respondents believed that an integration platform as a service (iPaaS) solution could help reduce overall cloud spend from the architecture stage. Boomi, as a leading provider of iPaaS solutions, emphasized the importance of integration in the cloud cost equation.
Gartner predicted iPaaS to be the fastest-growing enterprise software segment in 2022, with key players including Informatica, Microsoft, MuleSoft, Oracle, SAP, and Workato in the leaders’ zone alongside Boomi.
You can access the full Boomi report here.
