Wednesday, June 19, 2024

ProsperOps Releases Flex Boost to Increase and Accelerate Cloud Savings for Customers

Flex Boost delivers greater cost reduction by adding autonomous discount management for EC2 Standard Reserved Instances with a cash back guarantee

ProsperOps, the autonomous cloud cost optimization platform, has announced the launch of Flex Boost, a new EC2 Standard Reserved Instance (RI) management capability that delivers more savings, faster to Amazon Web Service (AWS) customers. As a component of the company's Autonomous Discount Management service, Flex Boost further increases the Effective Savings Rate (ESR) for customers while continuing to give companies the flexibility to scale usage up and down without the risk of over- or under-commitment. 

ProsperOps' unique approach optimally blends the advantages of various commit discount instruments, which now include EC2 Standard RIs, to maximize savings while managing risk. Historically, ProserOps customers achieved ESRs of 45-50%, placing them in the 99th percentile of all AWS optimizers. Flex Boost increases that to 50-55%, meaning customers can now save more than half off their cloud compute bill, net of ProsperOps charges.

Flex Boost is also designed to create a powerful network savings effect for customers. As aggregate ProsperOps compute usage grows, Flex Boost customers save more and achieve higher ESRs, even if their compute usage is flat. Customers save more over time simply by being on the ProsperOps platform. 

Flex Boost is backed by the Flex Boost Genuine Buyback Guarantee, the only guarantee to provide up to $250,000 in cash back for unwanted Standard RIs. In contrast, alternative services offer no buyback or service credits capped at the provider's charge. The Flex Boost Genuine Buyback Guarantee makes Flex Boost a no risk, no regrets decision.

"Our scale, automation, and ability to blend the unique benefits of Convertible RIs, Compute Saving Plans, and now Standard RIs allows ProsperOps customers to achieve net savings outcomes that exceed any alternative," said Erik Carlin, Chief Product Officer. "This is our biggest feature release since building out the core platform. ProsperOps already delivered industry leading Effective Savings Rates, and Flex Boost means customers will now receive even more savings back into their cloud budgets, right at a time when every dollar matters."

"Flex Boost is yet another demonstration of the advanced and sophisticated thinking and capabilities of ProsperOps. It really changes the game as it increases savings in a broader scope with huge flexibility," said Michel Zitman, Cloud Financial Management Practice Lead at Xebia, a global IT consultancy and AWS partner.

ProsperOps Flex Boost Benefits

  • An automatically managed, blended AWS savings portfolio which leverages the unique strengths of Convertible RIs, Compute Savings Plans, and now Standard RIs to maximize cloud savings while managing overcommitment risk
  • Higher Effective Savings Rates with many customers now receiving more than 1/2 off their cloud compute bill, net of ProsperOps charges
  • A powerful network savings effect which means customers' Flex Boost savings grow over time as ProsperOps grows
  • No risk with the Flex Boost Genuine Buyback Guarantee
  • A fully autonomous experience that requires zero ongoing effort, including requiring no notification of expected usage declines

ProsperOps is approaching $1 billion of annual compute usage under management across hundreds of organizations and has returned nearly $500 million in cost savings to their customers.  

Additional Resources 

About ProsperOps

ProsperOps is the leading FinOps automation platform that provides an intuitive, autonomous cloud cost optimization experience that automatically manages discount instruments to maximize compute savings and minimize commitment risk. ProsperOps is a founding and Premier member of the FinOps Foundation and a FinOps-certified platform, AWS Cloud Management Tool Competency & ISV-Accelerate Partner, and 2021 Gartner Cool Vendor in Cloud Computing. The company was founded in 2018 and is backed by H.I.G. Capital. Learn more and get started at www.prosperops.com.

Contact Information:
Jennifer Lankford
[email protected]


Original Source: ProsperOps Releases Flex Boost to Increase and Accelerate Cloud Savings for Customers
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