Most organizations have no idea how much money they are spending on cloud services, a new report from autonomous monitoring company Anodot suggests.
As reported by Venturebeat, research suggests that four in five (80 percent) organizations cannot detect spikes in cloud costs immediately. More than a quarter said it can take months to notice a significant increase in how much is being spent on cloud.
The larger the company and the greater the spend, the harder it becomes to identigy spikes in pricing. The report claims that more than three-quarters (77 percent) of organizations spending at least $2 million on cloud were surprised to learn how much they spent.
Drilling deeper into the problem, almost 50 percent said cloud costs spike by anywhere between 10-19 percent. Almost a third (30 percent) experienced 25-50 percent increases month-to-month, while another fifth (20 percent) witnessed rises in cost of up to 100 percent.
The challenging task of migrating crucial apps from on-prem to cloud infrastructure was often cited as the cause of spikes in pricing.