"RightScale Optima is the first cloud expense solution designed as a collaborative platform that integrates cost-saving recommendations and automated action with extensive cost reporting to help enterprises ensure that they can realize savings opportunities," said Michael Crandell, CEO of RightScale. "Our decade of experience with multi-cloud management and automation has enabled us to design a unique solution to streamline and automate cloud cost optimization."

RightScale Optima Brings Collaborative Optimization to Cloud Expense Management Built on the foundation of RightScale's existing cost analysis, reporting, and forecasting capabilities, RightScale Optima adds innovative new capabilities that help organizations identify waste through cost-saving recommendations; streamline collaboration between different stakeholders; and implement changes through automated action.

Growth of Enterprise Cost Management Strategies

IT professionals increasingly view cost management as a critical area of focus. According to Gartner in the August 12, 2016 report, Innovation Insight for Cloud Service Expense Management Tools, "Public cloud IaaS consumption and spending continue to grow. I&O leaders responsible for IaaS spending need to get ahead of spending and waste through the emerging practice of cloud service expense management, and to take advantage of the emerging tools.

"In addition, the RightScale 2017 State of the Cloud Survey of more than 1,000 IT professionals found that optimizing cloud costs is the top initiative among all cloud users. Respondents estimate 30 percent of cloud spend is wasted, while RightScale has measured actual waste between 30 and 45 percent. Despite an increased focus on cloud cost management, only a minority of companies are taking critical actions to optimize cloud costs, such as shutting down unused workloads or selecting lower-cost clouds or regions.

Biggest Areas of Focus to Save Money

Over the past year, RightScale professional services experts have been working with enterprises to optimize costs through the RightScale Cost Optimization Service. In doing so, the company continues to compile statistics that illustrate just how much cloud spend is wasted and where that waste can be found.

Although this data is an average of dozens of customers that RightScale has helped to optimize costs, it is representative of what the company sees across most cloud users. On average, RightScale saw that 32 percent of cloud spend was wasted.