Managing and optimizing costs is a vital responsibility of the ITAM and FinOps teams. They allocate and distribute costs to various departments such as business units, cost centers, and corporate units within an organization. This allocation helps them to understand and make informed decisions about the organization's Cloud spend. The FinOps team can also allocate their software spend by various dimensions, such as manager, location, business unit, cost center, and so on.
ITAM and SaaS spend is included in Cloud Cost Optimization to analyze the total IT Software, Hardware, SaaS and Cloud spend. Using the dimensions, the spend can be analyzed in the Cloud Dashboards, and Tabular View using default dimensions. Custom dimensions can be created using the Tag Dimensions and Rule-Based Dimensions for analyzing the spend unique to the organization.
In a recent update to Cloud Cost Optimization, users have more visibility in their ITAM and SaaS spend. The following updates have been made.
- Flexera ITAM Cost Center and Corporate Unit fields are available as tags for Cost Allocation.
- Flexera SaaS Manager spend is shown in Cloud Cost Optimization *
- Technology Spend Dashboard - The Unified Spend Analytics dashboard renamed to Technology Spend *
* This update only impacts the Flexera One NAM instance (app.flexera.com). The Flexera One EU and APAC instances already include these features.
