Finout, the end-to-end FinOps platform for understanding and optimizing cloud costs, has launched the AI-powered Finout Cost Optimizer solution, which can reduce a customer’s AWS bill by up to 60%. In today’s economic climate, where companies are tightening budgets and evaluating tech spend across the organization, this ability will empower teams to scale rapidly while maintaining a cost-effective cloud environment with minimum waste.

Announced today at FinOps X in San Diego, the Finout Cost Optimizer is claimed to be the only cost optimization solution on the market that doesn’t charge a fee for customer savings. Competitive solutions take a kickback of anywhere from 5% – 25%, which can amount to hundreds of thousands of dollars, essentially charging customers for saving their own money.

Finout’s end-to-end FinOps platform includes:

• MegaBill: Finout consolidates all cloud providers and 3rd party SaaS services such as Datadog, Snowflake, and more into a single dashboard. From there, a layer of cost governance, allocation, and optimization is applied.
• Cost Governance: Finout’s agentless cost governance suite enables teams to automatically detect and manage cloud waste, forecast spend, alert on anomalies, and stay on budget while scaling.
• Cost Allocation: Finout has developed an instant Virtual Tagging solution on top of the MegaBill, which allows costs to be understood by individual spend, team spend, application spend, or however else FinOps decides it wants to understand budget and spend.
• Cost Optimization: Finout’s new AI-Powered Cost Optimization for AWS will automatically save companies up to 60% on their AWS bill. Support for other major clouds as well as 3rd party services such as RDS, ElastiCache, Redshift, and OpenSearch is coming soon.

Finout’s solution comes baked into the broader Finout platform so that all of the cloud bill savings stay with the customer.