Flexera Strengthens Effective FinOps with Flexera One Cloud Cost Optimization
Flexera, the company that helps organizations maximize business value from their technology investments, announces that Forrester Research positioned it as a leader in The Forrester Wave™: Cloud Cost Management and Optimization, Q3 2022.
Flexera and nine other vendors were evaluated for The Forrester Wave™ based on 26 criteria grouped into three categories: current offering, strategy, and market presence. In the evaluation, Flexera received the top score in the current offering category. In addition, Flexera had the highest possible scores in the product vision, access and permissions, resource discovery and cloud platform support, billing, cloud visibility, cost optimization, partner ecosystem, and commercial model criteria.
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From Forrester’s evaluation of Flexera, “Since 2020, the company’s presence has grown by almost one-third, with over 95% of its customers as enterprises with significant cloud spend. Flexera has established a massive partnership with tech giant IBM, which acquired Turbonomic last year. This enables IBM to include Flexera One in its product offerings.” The Forrester report also states, “Flexera is relevant for customers looking for a large portfolio that includes license management and leading-edge optimization recommendation capabilities.”
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“Enterprises are increasingly turning to Flexera One as a foundation for effective FinOps,” said Jim Ryan, CEO of Flexera. “Wasted cloud spend is a major issue that becomes more critical as cloud costs continue to rise, yet many organizations underestimate their wasted spend. In the Flexera 2022 State of the Cloud Report, respondents self-estimated that their organizations waste 32 percent of cloud spend, which is up from 30 percent last year. This waste can be managed through FinOps programs and cloud cost optimization tools, which drive significant cost savings.”