Onix Positioned as the Leader in the 2024 SPARK Matrix for Cloud Cost Management & Optimization by QKS Group

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Sep 11, 2024, 09:00 ET

The QKS Group SPARK Matrix™ provides competitive analysis and ranking of the leading Cloud Cost Management and Optimization vendors.
Onix with its comprehensive technology and customer experience management, has received strong ratings across the parameters of technology excellence and customer impact.

NEW YORK, Sept. 11, 2024 /PRNewswire/ -- QKS Group has named Onix as a technology leader in their 2024 SPARK Matrix™ analysis of Cloud Cost Management and Optimization market.

The QKS Group SPARK Matrix™ evaluates vendors based on technology excellence and customer impact. It offers an in-depth analysis of global market dynamics, major trends, vendor landscapes, and competitive positioning. By providing a competitive analysis and ranking of leading technology vendors, the SPARK Matrix delivers strategic insights that help users assess provider capabilities, differentiate competitively, and understand market positions.

Onix was chosen as a leader in the 2024 SPARK Matrix for Cloud Cost Management & Optimization due to its outstanding capabilities in optimizing cloud costs and enhancing operational efficiency in complex multi-cloud environments.

QKS Group defines Cloud Cost Management and Optimization (CCMO) as a strategic practice that encompasses understanding, evaluating, and controlling cloud computing expenses while maximizing efficiency and performance. It involves the continuous process of aligning cloud resource usage with actual needs, eliminating waste and optimizing architecture to achieve the best possible value. CCMO aims to balance cost reduction with maintaining service quality, supporting growth, and ensuring compliance and security across an organization's cloud infrastructure.

"Onix provides a robust solution that offers a unique value proposition by integrating seamlessly with its broader cloud services portfolio, particularly in cloud migration capabilities," said Manish Chand Thakur, a Senior Analyst at QKS Group."Onix platform uses advanced machine learning algorithms to deliver intelligent cost optimization suggestions, such as rightsizing, reserved instance purchases, and workload placement, enabling organizations to manage and reduce their cloud expenses effectively." Thakur further adds "Onix excels in tracking the effectiveness of FinOps and cost optimization practices using dollar-driven metrics and places a special emphasis on achieving aggressive cost reductions in non-production environments, resulting in more substantial savings."

"Onix is proud to be recognized as a leader in the 2024 SPARK Matrix for Cloud Cost Management and Optimization," said Niraj Kumar, CTO of Onix. "This accolade underscores our commitment to deliver innovative solutions that optimize cloud costs and boost performance in complex multi-cloud environments. Our focus remains on a customer-centric approach, ensuring our clients navigate and thrive in the rapidly changing cloud landscape."

The CCMO market has experienced significant growth due to rapid cloud adoption, financial constraints, and the rising difficulty of managing multi-cloud and hybrid systems. This convergence has fueled high demand for solutions that optimize cloud spending and eliminate unnecessary costs. Due to these factors, the CCMO market has seen an influx of new entrants and expanded offerings from existing players. Cloud service providers have enhanced their native cost management capabilities while hybrid cloud management vendors have added deeper public cloud features. CCMO market is poised for further evolution where there will be an increased focus on automation leveraging AI and ML. The market is also likely to see a greater emphasis on cross-functional collaboration tools and advanced predictive analytics for proactive cost management. As cloud environments continue to grow in complexity and scale, CCMO solutions will play an increasingly critical role in helping organizations maintain financial control and optimize their cloud investments.

Additional Resources:

For more information about Onix, visit here
SPARK Matrix: Cloud Cost Management & Optimization, 2024

About Onix:

Onix is a trusted cloud solution provider and premier Google Cloud partner that helps companies migrate to the cloud and get the most out of their data and technology with innovative, IP-backed AI-powered solutions and services. Onix is able to deliver exceptional results for customers because of a 20+ year partnership with Google Cloud, our dedication to customer success, and depth of patented technologies and expert teams.

Contacts:

Sagar Desai
[email protected]

About QKS Group:

QKS Group is a global advisory and consulting firm focused on helping clients achieve business transformation goals with Strategic Business and Growth advisory services. At QKS Group, our vision is to become an integral part of our client's business as a strategic knowledge partner. Our research and consulting deliverables are designed to provide comprehensive information and strategic insights for helping clients formulate growth strategies to survive and thrive in ever-changing business environments.

For more available research, please visit https://qksgroup.com/

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