Logicworks, a partner of Amazon Web Services Inc. (AWS), announced a solution that will help cloud customers manage their spending, and reduce overall costs.
CostLogic assists customers with cloud planning, monitoring, and managing AWS accounts, CostLogic announced in a press release yesterday.
“With CostLogic, Logicworks conducts gap analysis and develops cost strategy that adjusts and/or eliminates underutilized instances,” the company stated in a statement. This allows customers to reduce waste, improve performance and predict future costs better.
“In addition,” the company stated, “CostLogic’s analysis recommends that you purchase on Amazon Elastic Cloud Compute, (Amazon EC2) Reserved Instances, where appropriate, further reducing on-demand cost. Cost tagging makes it easier to report, gives transparency into resource usage, and allows bill backs and tracking of return on investment. Logicworks automation can match Infrastructure as a Service’s (IaaS), end-user demand, handle scheduled shut downs, and eliminate waste.
The company provides cloud customers with cost reduction and account management functionality. They also integrate with Spotinst to help them leverage Amazon EC2 Spot instances. Spotinst is another AWS partner that provides EC2 Cluster Management using cutting-edge technologies like predictive analysis and machine intelligence. Amazon EC2 Spot instances allows users to bid for spare Amazon EC2 computing power at reduced rates.
Jason McKay, Logicworks executive, stated that “Implementing a cohesive spending management system has become more difficult due to lack visibility or predictability in cloud, its dynamic nature and still-maturing best practices.” “CostLogic was created to provide visibility to customers and drive significant cost savings. This frees up resources to migrate more projects quicker and realize greater AWS value.
The company did not provide any pricing details.
