If you use Amazon Web Services (AWS), you need to have an AWS cost management plan in place. It is far too easy to waste spend on a suboptimal computing environment due to improper tagging and governance; idle resources; improperly sized resources; and more. In fact, we estimate that more than $14 billion will be wasted on unused cloud resources this year alone. There’s no need for this waste: it’s time to take control. Here’s what the idea of AWS cost management means and how you can get started taking action for better cloud management. 

AWS Monitoring vs. AWS Management

First, let’s examine cloud monitoring and cloud management. Tools in both categories provide alternatives to the AWS management console with a variety of benefits, which can include better visibility, a simpler user interface, more analytics, built-in automation, and more. 

What we’re calling “cloud monitoring” in this context may also be known as cloud analytics or cloud visibility. A cloud monitoring tool provides data about your cloud infrastructure, which may encompass performance monitoring, security, regulatory compliance, resource consumption, cost, and spend. While the outputs of these types of AWS monitoring tools vary, they may include dashboarding, customizable reporting, and alerts. 

If we use the analogy of vehicle automation, this type of AWS tool can light up an icon on your dashboard, but there is no automation system in place to take action – that burden lies on the user. 

On the other hand, AWS management refers to the actual taking action to resolve issues. In the vehicle analogy, this can range from cruise control maintaining speed, to automatic stopping, to the driver taking his or her hands off the wheel. 

When applied to the cloud, this means that an AWS cost management tool can actually take action to resolve issues in a user’s AWS infrastructure. This can include tagging, governance, provisioning, and more, in addition to cost. 

Concepts in Cloud Cost Management

So, cloud cost management in general – and AWS cost management in particular –  mean taking action to improve your environment. Given the range of purchasing options and infrastructure models today, cloud cost optimization has become quite a broad category overall. However, you can think of it in terms of reducing wasted spend.

Wasted spend may include spend on:

  • Orphaned resources, such as snapshots, volumes, unassociated IPs, load balancers, unused machine images, and orphaned object storage
  • Overprovisoned/underutilized resources including volumes, database warehouses, relational databases, instances and virtual machines, inefficient containerization, and idel hosted caching tools
  • Idle resources, including instances and virtual machines, load balancers, relational databases, and scale groups
  • Legacy resource types such as outdated instance families
  • Suboptimal pricing options such as on demand when a better choice would be reserved instances, spot instances, and similar discounted options
  • Reserved instances that are not being used, or on resources that previously ran on a reserved instance that is now expired
  • More expensive regions than necessary
  • More expensive cloud provider than necessary

Ideally, a cloud management platform will help users optimize cloud costs not just by highlighting these types of wasted spend and providing recommendations, but by actually taking automated action to reduce spend and optimize costs.  

ParkMyCloud’s AWS Cost Management Platform

There are a few existing tools for AWS cost management, but few are as effective and versatile as ParkMyCloud´s software for managing Amazon EC2, RDS, auto scaling groups, and containers. Indeed, whereas as many AWS management tools are retrospective in regard to seeing where money has been spent, ParkMyCloud´s AWS cost management software allows enterprises to see in advance where money can be saved. Additionally, the ParkMyCloud cloud management software takes automated action, giving users an easy solution for AWS cost optimization.

Click to Expand

The primary feature of ParkMyCloud´s software for managing Amazon EC2 costs is one that allows enterprises to temporarily stop – or “park” – non-production instances when they are not required. As you will see in our “Financial Benefits” section below, by parking non-production instances enterprises can save more than 70% on the cost of deploying them on AWS EC2. It can recommend and apply on/off schedules based on resource utilization history, or users can create policies to apply schedules based on names, tags, and teams. For example, you may choose to apply a schedule that parks resources nights and weekends to everything on the “dev” team.

The other major way ParkMyCloud can help you save money on AWS cloud services is by “rightsizing” your resources. It analyzes utilization history and recommends which resources are oversized, allowing users to click to downsize them, thereby reducing the cost of the instance by  50% or more.

Our AWS cost management software also provides a single dashboard view of all an enterprise´s AWS accounts. With this information, administrators can create permission tiers within accounts, monitor activity within them, give developers control of their own instances, and make informed decisions about how to best allocate resources.

How Software for Managing Amazon EC2 Costs Works

ParkMyCloud´s AWS cost management software automates the process of logging into the Amazon console to switch on or switch off each non-production instance. Implementing the software not only saves time but removes any risk that the instances will be left running when idle due to human error. ParkMyCloud also spares enterprises the need to reassign resources in order to develop their own scheduling scripts.

The software for managing Amazon EC2 is simple to use. Users connect to their AWS services through a limited-access IAM role, which brings their resources into view on the ParkMyCloud dashboard. The app identifies each AWS EC2 instance, and recommends which should be switched off when not required based on the names and tags assigned to them, and any resizing recommendations. 

After the user accepts or amends the recommendations, the UI displays a grid displaying days of the week and times of the days. The days and hours when the non-production instances are not required should be highlighted by the user, after which the UI displays the projected savings. As the non-production instances are parked, actual savings will begin to accumulate

The Financial Benefits of AWS Cost Management Software

Subject to the number of non-production instances that have been parked and the number of resources that have been resized, the financial benefits of AWS cost management software are significant. Most enterprises will park their development, testing, and staging instances at weekends and for about 14 hours on weekdays, such as between the hours of 7:00pm and 9:00am – reducing the cost of deployment on Amazon´s cloud computing platform by more than 70%.

Click to Expand

Some parking schedules can save even more money. If, for example, an enterprise was to schedule its non-production instances to be parked by default – and the scheduled snoozed when the instances were required – they could assign all their production instances to the AWS “Reserved Instances” pricing option and reduce their AWS EC2 costs by the maximum possible.

By “rightsizing” a resource and reducing it down one size, users save 50% of the cost. Two sizes down saves 75% of the cost.

As well as the organizational and financial benefits of AWS cost management software, there are other security benefits of software for managing Amazon EC2. While the non-production instances are parked, they are cannot be accessed without authorization. This eliminates the risks of hacking and data thefts, and the need for the parked instances to be monitored or scanned while idle.

What Parking Schedule is Best For You?
Days Off Time On Time You Save
Monday – Sunday 9.00 p.m. 7.00 a.m. 41%
Monday – Sunday 8.00 p.m. 8.00 a.m. 50%
Monday – Saturday 7.00 p.m. 8.00 a.m. 61%
Monday – Saturday 10.00 p.m. 6.00 a.m. 43%
Monday – Friday 8.00 p.m. 7.00 a.m. 67%
Monday – Friday 7.00 p.m. 9.00 a.m. 70%


Try ParkMyCloud´s AWS Cost Management Software for Free

Clients already reducing their AWS costs with our software for managing Amazon EC2 are very happy with the results. Here are several examples of customers benefiting from the software:

  • A global fast food chain is managing 3,500+ resources in ParkMyCloud and saving more than $200,000 per month on their AWS and Azure spend
  • A global registry software company has saved more than $2.2 million on their AWS cloud spend since signing up for ParkMyCloud – an ROI of 6173%
  • A global consumer goods company with 200+ ParkMyCloud users saves more than $100,000 per month on their AWS and Azure cloud spend

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We are inviting businesses of all sizes to try ParkMyCloud´s AWS cost management software free . Our trial offer enables enterprises to test the effectiveness and versatility of ParkMyCloud in their own environment with no credit card required, no contract to sign, and no commitment to continue with our software for managing Amazon EC2 once the trial period has expired. Best of all, however much is saved using our software for managing Amazon EC2 is theirs to keep.

To find out more about our free offer, or to ask any questions about AWS cost management software, do not wait to contact us. Our team of experienced Customer Services Representatives will be happy to assist you with any questions you have and walk you through the features on ParkMyCloud. Within fifteen minutes, you could be keeping your budgets under control, governing your AWS accounts and optimizing your resources effectively with our AWS cost management software.

  • ParkMyCloud is a simple SaaS tool for automating parking schedules.
  • It works on all three leading Cloud Service Providers (AWS, Azure and GCP).
  • Our scheduling software recommends which instances are suitable for parking and resizing.
  • Parking schedules and sizing recommendations can be applied with the click of a mouse. No coding required.
  • Secondary benefits included improved security, governance and accountability.
  • Try ParkMyCloud today for free and witness to easy way to effective AWS cost management.