Cloud Financial Management Tools Reviews and Ratings

What are Cloud Financial Management Tools?

Gartner defines cloud financial management (CFM) tools as tooling that provides the ability to collect, organize, display, optimize and manage the investments in cloud computing infrastructure as a service (IaaS) and platform as a service (PaaS). They leverage algorithms, statistical models and/or AI/machine learning (ML) in support of cost reports, dashboards and/or other mechanisms/interfaces that provide capabilities to monitor cost, utilization and value indicators. This allows users to identify trends, anomalies, misaligned expectations, as well as opportunities to increase the efficiency of cloud configurations, architecture and contracts.

CFM tools enable enterprises to collect and analyze public cloud cost and usage information, and apply controls to define budget and cost policies to optimize spending on a continuous basis.

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Apptio, a subset of IBM, provides technology spend and value management software. Its primary business focus is on utilizing AI-based data insights which equip leaders to make more informed financial and operational decisions. Apptio is recognized in fields such as Technology Business Management (TBM) and FinOps, catering to an extensive global user base.

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Anodot is an AI-based cost management platform that detects waste, tracks savings, and provides transparency on current and future costs. Allowing you to facilitate strategic financial planning and management of your multi-cloud, K8s pods, and SaaS tools.

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Datadog specializes in providing a comprehensive monitoring platform for cloud applications. It collects data from diverse sources such as servers, containers, databases, and third-party services, aiming to make the stack fully observable. By offering these features, Datadog assists DevOps teams in preventing downtime, addressing performance problems, and ensuring optimal user experience.

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Densify leverages AI-driven analytics to help enterprises reduce costs, enhance efficiency, and ensure stability in complex, dynamic environments. Uniquely, Densify enables Realizable Gains—actionable outcomes that improve efficiency and performance without introducing risk. By delivering precise insights and automation, Densify empowers teams to confidently optimize Kubernetes resources and cloud infrastructure.

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Finout offers a comprehensive FinOps platform that simplifies cloud cost management for enterprises. It provides visibility across cloud providers like AWS, GCP, Azure, and Kubernetes, allowing businesses to manage, allocate, and reduce their cloud spend effectively. With features like the Megabill, which consolidates cloud costs, and virtual tagging for accurate cost allocation, Finout enables real-time insights and anomaly detection. It bridges finance and engineering teams, driving informed decision-making and operational efficiency. Finout also simplifies budgeting, forecasting, and shared cost management, empowering businesses to optimize cloud investments and maintain financial transparency.

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CloudZero puts engineering teams in control of cloud costs by connecting technical decisions to business outcomes. Designed for software-driven companies focused on growing margins, CloudZero’s unique ability to deliver hourly insights across any provider empowers teams to build cost-efficient software without slowing innovation. Unlike traditional cost management, CloudZero organizes costs into unit metrics like cost per customer or feature, even on complex architectures like Kubernetes, microservices, and more. No tagging required—just seamless, business-centric visibility to optimize spend and improve profitability.

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Flexera delivers Saas-based IT management solutions that enable enterprises to accelerate digital transformation and multiply the value of their technical investments. We help organizations inform their IT with definitive visibility into complex hybrid IT ecosystems, providing unparalleled IT insights that allow them to seize technology opportunities. And we help them transform their IT with tools that deliver actionable intelligence across an ever-increasing range of dimensions to effectively manage, govern and optimize their hybrid IT estate. More than 50,000 customers subscribe to our technology value optimization solutions, delivered by 1,300+ passionate team members worldwide.

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CloudBolt is The Cloud ROI Company. We are singularly focused on solving the most pressing problem with cloud today: increasing return on investment (ROI). With the introduction of our Augmented FinOps capabilities, CloudBolt is leveraging AI/ML-informed insights and applying intelligent automation and orchestration proactively and retrospectively to make complete cloud lifecycle optimization a reality. CloudBolt enables organizations to realize the full potential of any cloud fabric by closing the “insight to action” gap. By streamlining, clarifying, and optimizing spend and control, we help organizations place value at the center of every cloud decision.

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Flexera delivers Saas-based IT management solutions that enable enterprises to accelerate digital transformation and multiply the value of their technical investments. We help organizations inform their IT with definitive visibility into complex hybrid IT ecosystems, providing unparalleled IT insights that allow them to seize technology opportunities. And we help them transform their IT with tools that deliver actionable intelligence across an ever-increasing range of dimensions to effectively manage, govern and optimize their hybrid IT estate. More than 50,000 customers subscribe to our technology value optimization solutions, delivered by 1,300+ passionate team members worldwide.

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Aquila Clouds solves cloud financial challenges of enterprises and cloud service providers. Our FinOps product offers visibility and control over cloud spending, while our BillOps product automates billing for efficiency.

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DoiT focuses on simplifying cloud consumption to facilitate business expansion and innovation. They provide tools and expertise for the management and measurement of multicloud usage and expenses, ensuring sound financial operation in cloud expenditure. The global team at DoiT is knowledgeable in cloud architecture governance, optimization, and analytics, with additional specializations in Kubernetes and artificial intelligence. The company extends services on a global scale, serving several clients across various countries.

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Sedai is a company that focuses on providing AI-based services for cloud cost optimization and performance tuning. Used by Platform Engineering, DevOps, and SRE teams, Sedai's offerings aim to bolster both efficiency and customer satisfaction by maximizing savings associated with cloud usage. Providing real-time, continuous optimization, Sedai assists teams in scaling according to their evolving needs while minimizing the need for human intervention. Their services allow cloud teams to enhance their operations with autonomous cloud management capabilities, aiming for maximum returns.

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Virtana delivers enterprise-grade deep hybrid infrastructure observability, unifying visibility across on-premises, cloud, and Kubernetes environments through an AI-powered platform. Our solution enables organizations to ensure availability, optimize efficiency, and build resilience across their entire IT estate.

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Flexera delivers Saas-based IT management solutions that enable enterprises to accelerate digital transformation and multiply the value of their technical investments. We help organizations inform their IT with definitive visibility into complex hybrid IT ecosystems, providing unparalleled IT insights that allow them to seize technology opportunities. And we help them transform their IT with tools that deliver actionable intelligence across an ever-increasing range of dimensions to effectively manage, govern and optimize their hybrid IT estate. More than 50,000 customers subscribe to our technology value optimization solutions, delivered by 1,300+ passionate team members worldwide.

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CoreStack is a company that offers an AI-powered multi-cloud governance solution that aims to provide enterprises with the means to efficiently manage their cloud operations. At its core, CoreStack seeks to solve the predominant business problems associated with cloud governance, including uncontrolled cloud costs, pervasive security risks, rigorous regulatory compliance needs, and operational complexities. To tackle these issues, the company offers features like comprehensive cloud visibility, preventive governance guardrails, and automatic remediation. CoreStack's unique methodology involves a Cloud-as-Code approach that leverages deep AI/ML, declarative definitions, a connector-less model, and patented cloud service-chaining technology. This allows CoreStack to continually innovate in its mission to maximize the potential of cloud computing. The company serves a global market across a wide array of industries.

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ServiceNow's cloud‑based platform and solutions help digitize and unify organizations so that they can find smarter, faster, better ways to make work flow. So employees and customers can be more connected, more innovative, and more agile.

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Purpose-built for FinOps, Ternary is designed to solve the challenge of operating in the cloud at scale. The platform empowers organizations to establish cloud cost transparency, improve cloud cost and usage efficiency, and foster communication between finance, engineering, and FinOps teams.

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Adaptive6 specializes in cloud cost governance, focusing on the prevention of waste at the code level prior to provisioning, while automating waste remediation in the cloud. The platform excels in enhancing engineering resolution processes, as it aids in accurately identifying resource ownership, supervising inefficiency communication workflows, and providing integral context along with AI-powered code fixes.

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Aquila Clouds solves cloud financial challenges of enterprises and cloud service providers. Our FinOps product offers visibility and control over cloud spending, while our BillOps product automates billing for efficiency.

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Features of Cloud Financial Management Tools

Mandatory Features:

  • Configurable user-friendly reporting and dashboarding. These must include current costs and forecasting capabilities with the ability to perform daily updates.

  • Analytics and insights for resource optimization. This is the ability to run analytics on the collected data, identify inefficiencies in one or more areas (configuration, architecture and contract) and suggest actions to improve the efficiency stance. This capability often leverages AI/ML technologies.

  • Cost incident detection capabilities. This is a generic capability to define spending expectations, detect misalignments with those expectations and generate an incident/alert.

Optional Features:

  • Dashboards and reports that are configurable for multiple personas, as cost data is to be consumed by different people with different required levels of abstraction and detail (e.g., CFO, CIO, operator, developer).

  • Budget controls: An ability to set budget (fixed figures) on a given scope of services such as those used by a single application of workload. This includes monitoring spend against the set budget and identifying deviations. This should include the ability to produce forecasts.

  • Inclusion of a minimum set of controls for resource optimization, such as rightsizing, idle/unused resource identification, scheduling/autoscaling opportunities, and programmatic discount opportunities. This also includes automated commitment management.

  • Monitoring of cost and utilization for virtual machines, storage, database and/or container services.

  • Remediation: Identified incidents and opportunities need to be actioned to achieve the purpose of the tool, hence the tool should provide some capabilities to manage those actions. For example, it should invoke rightsizing through some sort of capabilities (e.g., single click execution; integration with Jira, ServiceNow, automation, etc.).