Even before COVID-19, public cloud adoption was accelerating. The Flexera 2020 State of the Cloud Report highlights that cloud usage is accelerating, with respondents anticipating that cloud spend will increase by an average 47% next year. However, organizations are still struggling to accurately plan for cloud spend, exceeding their cloud budget by an average of 23% last year.
These challenges are likely to be exacerbated by the coronavirus pandemic, as 59% of enterprises expect cloud usage to exceed prior plans. With respondents estimating that they waste 30% of their cloud spend, more cloud spend also means more waste. As cloud spend grows, so does the imperative to optimize cloud spend.