In 2024, managing AWS costs is a must for businesses of all sizes. With AWS billing complexities, finding a tool that can help you optimize costs and maximize performance across your AWS services is more important than ever. These tools specialize in helping businesses lower their AWS bills, improve efficiency in workloads, and make the most of their cloud resources. Here are the top five AWS cost optimization tools leading the way in 2024:

1. CloudFix

CloudFix is the leader in AWS cost optimization. Unlike other tools that simply identify potential savings, CloudFix goes the extra mile to actually implement those savings on your behalf. CloudFix focuses on savings for AWS services to help businesses save millions on their AWS cloud bills. Their cost optimization platform automates the optimization of compute resources (EC2, Lambda), data transfer (NAT Gateways), and storage (EBS, S3). Together with their AWS discount management automation, CloudFix is the top choice for anyone looking to reduce their cloud costs and improve their AWS setup.

  • Founding Year: 2008
  • Employees: 36
  • Revenue Growth: 122% in the last year
  • Client Portfolio: Includes several Fortune 500 companies
  • AWS Spend Managed: Over $1 billion

2. Flexera

Flexera is a top choice for companies that need a comprehensive view of their cloud usage, particularly for multi-cloud environments. Their tools help businesses analyze AWS costs through AWS Cost Explorer and AWS Budgets, making it easier to identify and eliminate waste. While Flexera excels at showing where savings can be found, the actual implementation of those savings is typically left to the user. Flexera’s platform excels at optimizing compute resources, like Amazon EC2 and serverless architectures, while also offering insights into cost-effective pricing strategies and the use of Reserved Instances and Savings Plans.

  • Founding Year: 1988
  • Employees: 2,000
  • Client Portfolio: Includes large enterprises across various industries
  • AWS Spend Managed: $ Billions (exact figures not available)

3. ProsperOps

ProsperOps specializes in optimizing AWS costs by managing and automating Reserved Instances (RIs) and Savings Plans. Their platform is designed to provide ongoing optimization without requiring constant manual intervention. While ProsperOps excels at helping businesses identify the most cost-effective pricing models, the responsibility of executing these savings generally remains with the user. ProsperOps is particularly beneficial for organizations with dynamic and evolving workloads that require continuous cost management.

  • Founding Year: 2018
  • Employees: 66
  • Client Portfolio: Includes mid-market to enterprise customers
  • AWS Spend Managed: $2.3B

4. Turbonomic (An IBM Company)

Turbonomic, now part of IBM, is recognized for its AI-powered approach to cloud optimization. Their system automatically manages AWS resources, including EC2 instances, Lambda, and Amazon S3, to ensure businesses don’t overspend. Turbonomic is excellent at pinpointing where cost savings can be made, but the process of implementing these savings remains with the user. With the ability to automate workload management and optimize costs, Turbonomic is well-suited for large enterprises that need a reliable solution for AWS cost management and cost savings, particularly in complex pricing models.

  • Founding Year: 2009
  • Employees: ~500
  • Client Portfolio: Serves numerous Fortune 100 companies
  • AWS Spend Managed: N/A

5. CloudHealth by VMware

CloudHealth by VMware provides businesses with a complete view of their AWS environment, helping them manage costs and optimize AWS services effectively. The tool is especially useful for managing costs associated with EC2 instances, RDS, and data transfer. CloudHealth also integrates with AWS Cost Explorer and AWS Budgets, enabling companies to monitor their AWS billing closely and make informed decisions on Reserved Instances, spot instances, and other pricing models to maximize cost savings. However, CloudHealth primarily guides users on where savings can be made, leaving the actual implementation to the company.

  • Founding Year: 2012
  • Employees: 86
  • Client Portfolio: Trusted by global enterprises
  • AWS Spend Managed: $ Billions (exact figures not available)

As more companies rely on Amazon Web Services (AWS) for their cloud infrastructure, keeping cloud costs under control becomes a critical challenge. While many tools can help you find where savings exist, CloudFix stands out by taking the next step and ensuring those savings are actually implemented. These top tools are leading the way in helping businesses optimize costs, streamline AWS billing, and maximize their return on investment across all AWS services, from compute and storage to data transfer and serverless architectures.

Original article: https://www.linkedin.com/pulse/top-5-cloud-optimization-tools-2024-brandon-pizzacalla-bvn9e