Cloud cost optimization leader adds new method to address cloud waste to improve cloud users’ efficiency

November 21, 2018 (Dulles, VA) – ParkMyCloud, provider of the leading enterprise platform for continuous cost control in public cloud, announced today that its cost optimization platform has now expanded to provide “rightsizing”. Rightsizing is a way to reduce wasted cloud spend by resizing cloud resources, and can provide significant savings: just by moving a virtual machine down one size tier, 50% or more  — and resources are often so overprovisioned that multiple size transitions are possible, raising that savings to 75% or more.

This joins ParkMyCloud’s “parking” functionality, which automatically schedules non-production cloud resources, such as those used for development, testing, staging, and QA, to turn off when they’re not needed. With a typical schedule that parks a resource for 12 hours each night and on weekends, users can save 65% of the cost of their resources. Combined with rightsizing, this means that an average cloud user is poised to reduce overall costs in their cloud environment from 50-80% or more.

This release marks the first step to a fully automated instance “SmartSizing”, which ParkMyCloud will release in January 2019. SmartSizing will take rightsizing a step further by actually automating size corrections, requiring little management on the part of the user.

“With each release of the ParkMyCloud platform, we’re delivering customers another piece of the puzzle they need to fully automate multi-cloud cost optimization,” said Bill Supernor, ParkMyCloud’s Chief Technology Officer. “We developed rightsizing in close contact with customers based on their needs, and initial feedback has been positive.”

ParkMyCloud will demo the new functionality at AWS re:Invent, November 26th through November 29th, and invites attendees to visit the company in the expo hall at  booth #1709.

About ParkMyCloud

ParkMyCloud provides an easy-to-use platform that helps enterprises automatically identify and eliminate wasted cloud spend. More than 800 enterprises around the world – including Unilever, Sysco, Hitachi ID Systems, Papa John’s, and National Geographic – trust ParkMyCloud to cut their cloud spend by millions of dollars annually. ParkMyCloud’s SaaS offering allows enterprises to easily manage, govern, and optimize their spend across multiple public clouds. For more information, visit www.parkmycloud.com.