European enterprises are spending £29.48 million on cloud services, and 42 per cent say the cloud has been critical to digital innovation initiatives in the last two years, but a big chunk of this cash is wasted.
According to the 2019, European Insight Intelligent Technology Index 30 percent (£8.8 million) of this cloud spend is on services that are not used.
Respondents identified the following top three challenges for managing cloud spend: determining best-fit workloads for public, private and hybrid cloud (44 percent ); planning and allocating budget for cloud consumption (39 percent ); and lack of visibility of used services at the cost centre, workload and application level (36 percent ). Based on these numbers, wasted spending is likely to be even higher, as organisations struggle to optimise their cloud investment.