The guide outlines 5 best practices to help businesses optimise high cloud storage pricing in India. Implement them to cut down on the cost without sacrificing the performance or scalability    requirements.

Cloud storage is one of the most popular ways of storing data in today’s digital world. Most companies in India are using this technology to enhance their business agility. It has completely transformed and revolutionized how businesses store and access data, especially during the pandemic. It emerges as the most reliable channel for storing, backing up, and sharing data at the organizational level. 

As per Mckinsey’s Research, 80% of companies tend to use some form of cloud services by 2030, and cloud storage is rated among the catalysts of innovation and digital transformation. As a result, many organizations worldwide and in India are turning to cloud storage options to meet their digital needs. But the high cloud storage pricing in India stops many small businesses from unlocking the benefits it has to offer. Thus, if you’re looking to save on cloud storage expenses, here are 5 practical ways to optimize the cost. But first, know more about why businesses should optimize their cloud storage costs. 

Why do Businesses Need to Optimize Cloud Storage Costs?

Companies tend to spend a huge amount on cloud storage without even paying attention to the performance and scalability requirements. As the size of data keeps increasing, spending on cloud storage technologies increases accordingly. Most businesses do not realize that if they aren’t optimizing the storage cost on time, they tend to lose out on their savings. That’s why businesses tend to optimize cloud storage costs in the first place. 

Cloud storage optimization acts as a proven strategy that enables enterprises to keep costs low. Several cloud cost optimization tools are available to help businesses identify actions taken to save a company’s thousands of dollars month-over-month. 

Below are the 5 best practices to optimize cloud storage costs and maximize savings. By following these practices, one can develop a holistic approach to managing cloud spending. 

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Cloud Storage Pricing in India- 5 Practical Ways to Optimize the Cost 

Cloud storage is no longer a novel term. It’s become a foundation stone for many businesses in India. Companies across all industries now incorporate cloud storage into their IT strategies for business agility.  

The concept of cloud computing has gained a lot of traction in India, and its endless benefits have entirely transformed the way companies perceive storage. Accessing their resources anywhere makes Indian enterprises realize how much they stand to save over the long term with cloud storage. The only hindrance that stops them is the high cloud storage pricing in India. If you are also concerned about high cloud storage costs, check out the practices given below for better cost optimization. 

• Rightsizing the Available Resources

Having most computing resources with minimal utilization isn’t a good choice for small businesses. It creates many unused VMs, consumes too much storage space, and wastes bandwidth with high volumes of ideal traffic. It’s a common issue that most IT companies are unaware of – called over-provisioning, and the primary reason cloud hosting services are expensive. 

Right-sizing the available resources can solve the problem. Businesses do not need to make any architectural changes to their application or database to re-architect their cloud resource usage. Instead of buying ample storage space and other resources with steady usage, find out the optimal RI (Reversed Instances) capacity. Researchers found that determining RI capacity could reduce costs by 20-30%. 

One of the most reliable CSP offering cheap cloud storage in India recommends rightsizing the resources available to optimize the storage cost. 

• Establish a General Estate Governance 

Having the perfect price model is everything for a small business. Sometimes due to the lack of knowledge, small businesses tend to pay 5-10 times the storage costs they use. It’s because their pricing model doesn’t generate the required governance framework. The state indicates that those businesses cannot determine the amount of capacity or actual storage consumption and spend extra.

Establishing a general estate governance framework is ideal for companies that do not need massive amounts of storage at their disposal. Besides, they opt for storage services with a fixed monthly cost and variable cost depending on the level of usage. 

By cutting down on extra usage and unwanted redundancy, businesses can easily maintain a check on storage space.

• Get the Storage Service Right 

Businesses can look out to optimize their cloud storage cost by effectively managing capacity utilization and resource scheduling. It makes sure that only the minimum required capacity is put in place and not beyond that. Below are some practices to get the storage service right for the better management of cloud storage costs. 

1. Use the pricing model efficiently to cut down the unit price of storage consumption.
2. Switch to pay as you go services. It’s wise to utilize a pay-as-you-go pricing strategy and scale up and down your resources according to the changing computational load and storage requirement.
3. Save some storage for reserved instances, such as the availability of short-term and unpredictable storage consumption workloads.  

Using a service with a monthly payment gives no incentive to control costs as buying it only as much as needed. In other terms, it’s the best way to get cloud storage services right and pay only for the service you use. 

• Evaluate & Verify Hybrid Benefits 

Optimizing cloud storage isn’t all about cost savings. It reduces all those conflicts that arise because of the outdated licensing models and affects an organization’s IT efficiency. When organizations use a mix of on-premises and cloud solutions, a complex environment often results in conflicting capabilities and confusing license rules. It significantly impacts costs and complicates IT efficiency.

It’s where evaluating & verifying hybrid benefits enter the picture. It’s an effective technique to optimize the cloud storage cost. With easy step-by-step analysis of each asset, one can quickly identify how they can use all software licenses in the environment. Deeper insight helps bring license ownership into full compliance enabling businesses to efficiently use storage for all software assets available in the organization. 

• Validate Prices & Exploit Promotions

Many cloud assets can be expensive to purchase from vendors. It’s wise to examine the market and negotiate with the service providers for cost reductions. Deploying SaaS applications on a pay as you go basis has been a preferred cloud model for many businesses wishing to experiment with or implement new IT solutions. It aims at ensuring that clients have the best value available in the market. By validating prices with the service provider, businesses can easily reduce the cost. Additionally, it exploits various promotions to offer clients a transparent model with an extreme price benefit.

Ending Notes

Adopting cloud strategies to accelerate innovation and gain a competitive advantage has been a steady business imperative in India. Still, many organizations are struggling to unlock the benefits of cloud adoption. Service providers charging high cloud storage prices in India is why cloud adoption remains slow among the vast majority of organizations. With the availability of service providers offering cheap cloud storage in India, small businesses have now started harnessing the full potential of cloud services. 

If you also want to discover how your businesses can accelerate innovation and gain a competitive advantage from cloud storage, contact the Go4hosting experts at 1-888-288-3570.