GigaOm Radar Report Names Anodot as a Challenger and Fast Mover for FinOps Tools
The new report recognizes vendors and products that excel in their FinOps offerings
ASHBURN, Va., July 7, 2022 /PRNewswire/ -- Anodot, the business monitoring company, today announced that it has been named as a Challenger and Fast Mover in the 2022 GigaOm Radar for Evaluating Financial Operations (FinOps) Tools report. Anodot for Cloud Cost was ranked as exceptional in the key criteria categories of flexibility, scalability, AI to predict future spending, normalized billing across multiple cloud vendors, identification of cost optimization opportunities, and container and serverless computing.
As companies increasingly digitize and shift to remote work, hybrid and multi-cloud infrastructures are increasingly becoming the norm. But runaway costs due to cloud blind spots, unmonitored growth, and unintended or unanticipated spending have emerged as a major challenge for enterprises across industries, especially as companies contend with today's economic uncertainty. The GigaOm Radar Report outlines issues, trends, and purchase considerations for prospective customers. It identifies key criteria and evaluation metrics for selecting a FinOps platform. The report also provides a forward-looking analysis that carefully plots the relative value and progression of the various FinOps solutions available on the market.
"Anodot's inclusion in this analysis is a testament to the value we bring to the market and to the innovativeness of our technology," said David Drai, CEO and Co-Founder of Anodot. "The report highlights the need to make financial accountability a key part of organizations' response to uncontrolled cloud spending. At Anodot, we pride ourselves on providing augmented analytics that enable companies to do just that: Cut unnecessary cloud costs and eliminate waste. We are thrilled to be recognized for our bold strategy and proven track record for cloud intelligence."
Anodot for Cloud Cost optimizes cloud usage while reducing cloud costs by monitoring cloud environments end to end – including an accurate breakdown of SaaS and Kubernetes costs. Additionally, its dynamic nature identifies continually updated services offered by cloud providers and new generations of servers and creates recommendations accordingly. The GigaOm Radar Report highlights how Anodot leads other vendors in the market in terms of the flexibility to manage new types of workloads and IT projects, as well as the scalability to meet global enterprise needs. Anodot for Cloud Cost customers include Amdocs, NICE, WhiteSource, Fiverr, and many others.
"Anodot gives us visibility and control on cloud billing at a granularity we have never seen before," said Rubi Cohen, Cloud Manager at Amdocs. "The recommendations they generate save us a huge amount in our cloud bill."
Anodot also stood out for its use of AI to predict costs based on historical trends and optimize costs beyond computing instance sizing. Moreover, it is a market leader in normalizing billing across cloud vendors, excelling at identifying cost reduction opportunities.
"Anodot has demonstrated its impressive ability to visualize and optimize cloud costs. The granularity and speed-to-awareness of Anodot's solutions exceeds the market norm and, with regards to serverless and container spend, Anodot is one of a few vendors providing accuracy in forecasting for cloud workloads," said Michael Delzer, Cloud and Infrastructure Analyst at GigaOm. "We look forward to seeing Anodot continue to expand its capabilities and maintain momentum in the cloud industry."
The full report can be viewed here.
About Anodot
Anodot is the business monitoring company that eliminates business blind spots by proactively monitoring business metrics, enabling companies to protect revenue and manage cost. Leveraging AI and ML, Anodot's augmented analytics proactively alert companies to revenue-critical business incidents and automates their remediation in real time. Anodot's Cloud Cost Management solution helps FinOps teams reduce cloud waste and manage costs in multi-cloud and Kubernetes environments, providing actionable recommendations that can cut up to 40% on annual cloud spend. Anodot is trusted by numerous Fortune 500 companies to help slash time to detection and resolution for revenue-critical issues by as much as 80%.
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