Note: This video is part of our monthly series “T3M” aka “TFiR Topic Of The Month”; the topic for January was Cost Cutting vs Cost Efficiency.
Coredge is focused on abstracting the ever-evolving ecosystem of edge and cloud architecture, simplifying, and commoditizing the technology so that companies of all sizes will get the same operations and same functionality everywhere across the globe.
Cost cutting means different things to different organizations, but the goal is to increase revenues and profits. It could mean:
- laying off people.
- trimming an overloaded infrastructure.
- saving energy, i.e., turning off the equipment when not in use.
- improving efficiencies through technology.
- optimizing business operations.
Current trends in the market:
- Because there is a lot of pressure to deliver on their commitments with the same technology and fewer staff, companies are attracted towards collaborating with open-source communities and work towards some common goals.
- Companies move their workloads to the cloud because it provides a lot of capability and built-in capacity without needing to provision a lot of servers and the running costs associated with building your own data center.
- For large-scale operations, the economics of the cloud suddenly overshoots substantially above the expectation that they had. Now, the trend is trying to figure out if some of the things they can have managed. This hybrid mode adds complexities. When expanding in scale without the right technology and skill set, the cloud operations are somehow going to be less effective from the cost perspective.
Coredge helps companies by making technology more and more cost efficient so that it becomes usable particularly in cases or scenarios that are not affordable, unavailable, or impractical, e.g., putting Kubernetes experts in a remote area to daily manage the smart city projects.
To be cost-efficient, companies need to
- Figure out their core business and stick to that list
- Collaborate or work with partners to deliver a solution
- Have a better go-to-market strategy to help them achieve your goals faster.
This summary was written by Camille Gregory.