In 2018, Forrester launched the Cloud Cost Monitoring and Optimization Wave, to help infrastructure and operations professionals understand the market landscape of solutions and make the right choice. Apptio Cloudability has been named a leader in the 2020 report, The Forrester Wave™: Cloud Cost Management and Optimization, Q4 2020, which showcases Cloudability's shift from “Contender” to “Leader.”
We’ve come a long way in the CCMO Wave. Now let’s talk about the report and some of the reasons for that jump.
Getting included in the CCMO Wave
The Forrester CCMO Wave is a guide for buyers considering purchasing options in a technology marketplace. The CCMO space is defined by Forrester as “tools that can monitor and recommend actions to optimize cloud spend.”
The Wave provides advice for IT leaders who are searching for a CCMO vendor. “Vendors that provide container support, accurate billing, and superior cost optimization position themselves to successfully deliver value beyond that of native platform providers and provide maximum savings to their customers.”
The three objectives of the Forrester CCMO Wave include:
- Identify functionality that cloud cost management and optimization solutions should provide.
- Analyze leading vendors and solutions in cloud cost management and optimization.
- Assess the strengths and weaknesses of these leading cloud cost management and optimization solutions.
To be included in the report, solution providers must deliver cloud cost visibility and analytics and have some form of governance policy management, automated alerting and remediation recommendations. Additionally, solution providers are required to meet the following criteria:
- Vendor solution support for at least two public cloud platforms. (Apptio supports three: Amazon Web Services, Azure, and Google Cloud Platform.)
- Cost monitoring, optimization, and recommendation capabilities.
- Have at least 30 enterprise customers or product revenue greater than or equal to USD $4 million.
- The product can be purchased as a standalone tool.
- Solution capabilities must be generally available as of July 20, 2020.
The report offers two major benefits for IT leaders: 1) a detailed analysis of vendors’ products and services and 2) an Excel spreadsheet that allows you to easily compare products and develop custom shortlists according to your own requirements.
Forrester CCMO Wave results
Areas where Apptio demonstrated strength were resource discovery, billing democratization and administration, reporting, brokerage, cost planning and assessment, portal usability and experience, platform experience and service level agreements, performance, and our revenue numbers.
While we’re excited about our position, we will still continue on our mission to support our customers to drive optimal financial management processes through their organization. In the time frame since Forrester began its analysis, we’ve launched New Relic integration, Amazon S3 Rightsizing Recommendations, Rightsizing Recommendations for Azure, Integrated Kubernetes Financial Management, and acquired SaaSLicense.
There is much more in store, and we’ll be sharing more of our 2021 roadmap at TBMC20.
Most important to us is the value we create for our customers – where they shared with Forrester their appreciation for our “ease of use and intuitive interface, (which enables) both technical and nontechnical roles can pick up the tool easily.” They also communicated how our public API facilitates complete integrations. And Forrester called out Apptio Cloudability’s unified billing data lake, data perpetuity for auditing, and on-premises-to-cloud and cloud-to-cloud migration recommendations.
Forrester added that “Apptio is a good fit for companies seeking a platform from a company with a strong financial management background to serve both technical users and financial stakeholders.”
This is a significant statement about our passion for innovation, our push toward continuous product improvement, and our commitment to serving our customers in their mission to bring IT, finance, and business stakeholders to achieve financial accountability in the variable spend of cloud.
You can download the full report here.
We can show you the value of Apptio Cloudability better than we can tell you – and would love to provide a demonstration to showcase how we can eliminate cloud waste, maximize committed usage discounts, and improve cloud cost certainty. Start a free trial.