At FinOps X, the annual conference for FinOps practitioners, the company unveils Microsoft Azure optimization, enhanced forecasting, and new MSP capabilities
At FinOps X, the industry conference for FinOps practitioners, Ternary today launched new capabilities to help improve cloud cost and usage efficiency and further drive cloud cost transparency across organizations. Additionally, Ternary launched new capabilities enabling managed service providers (MSPs) to streamline customer management and simplify billing operations.
As noted in the State of FinOps 2024 by the FinOps Foundation, the top three priorities for practitioners are reducing waste, managing commitment-based discounts, and forecasting accurately. Purpose-built for FinOps, Ternary helps practitioners solve these business challenges.
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Comprehensive optimization recommendations across clouds:
With Ternary, multi-cloud customers can now eliminate waste and achieve cost savings across all three leading cloud service providers: Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform (GCP). Ternary has long supported usage and rate optimization for GCP and AWS services. Now, it provides rightsizing recommendations for Azure compute, storage, database, and Kubernetes services. Effectively managing commitment-based discounts is core to a successful FinOps practice and is one of the best ways to save money in the cloud. Accordingly, Ternary has also added expanded rate optimization support to Microsoft Azure Reservations and Savings Plans for compute, with remaining supported services following in the coming weeks.
“We initiated our collaboration with Ternary earlier this year and appreciate their responsiveness to our requests and solid customer service. Our engineers find Ternary’s platform intuitive and easy to use, providing actionable insights into our ongoing and expanding cloud expenditure,” said Stephen Dick, Vice President of IT Operations at Paylocity.
New forecasting engine to better predict future spend:
In addition to Azure optimization, Ternary is introducing its new multi-cloud forecasting engine. The forecasting engine is powered by machine learning algorithms. It provides a detailed breakdown of forecasted spend by business dimensions the user can designate, allowing them to better understand how changes today impact future cloud spend. Users can also set confidence levels to model different scenarios and see the resulting impact on future budgets.
Key features for MSPs to ease the transition to a modern FinOps solution:
Many companies procure FinOps services through partners. Ternary continues to invest in new capabilities to help MSPs seamlessly manage their customers’ cloud spend. These include an MSP Dashboard, which provides a holistic view across their entire FinOps services business: multi-cloud cost trends, anomalies, optimization opportunities, user activity, and more. Along with the new dashboard, Ternary has released a new partner billing engine to help MSPs apply uplift charges, allocate line items, and pass savings benefits to customers.
“Our product enhancements are a direct result of close collaboration with customers and partners. Helping organizations achieve their desired business outcomes is our driving focus at Ternary. As our customers and partners continue to grow their multi-cloud footprint, we will be there to support their FinOps journey at every step of the way,” said Ternary’s Chief Product Officer and Co-founder, Patrick Raymond.
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