LogicMonitor launches LM Cost Optimisation tool for businesses

LogicMonitor, known for its SaaS-based Hybrid Observability powered by AI, recently announced its newest product: the LM Cost Optimisation, an addition to its LM Envision platform. This launch aims to tackle the mounting complexity and economic pressures businesses face managing both on-premises and cloud infrastructures. The LM Cost Optimization feature seeks to eliminate unnecessary expenses and foster data-driven decision-making for IT teams.

Controlling costs has become an increasingly arduous task as enterprises elevate their usage of a mix of cloud and on-premises infrastructure. The right tools are crucial to discerning where cloud spend is directed. The LM Cost Optimisation feature for the LM Envision platform immediately enables these cost management features as an enterprise's infrastructure evolves, minimising or even negating the necessity of additional tools.

Principal Analyst at Forrester, Tracy Woo, highlights the importance of these tools, noting, "Rising cloud spend colliding with a down economy has raised visibility all the way to the executive and board level. Cloud leaders lean on these tools to help justify spend, forecast and budget current and future spend, optimise and identify waste, automate easy tasks, enforce good tagging hygiene, and better link usage to achieving business targets."

The LM Envision platform breaks down extensive telemetry for teams to help pinpoint under or overutilised resources, thereby facilitating both on-premises and cloud infrastructure management with actionable insights. John Kim, General Manager of Hybrid Observability at LogicMonitor, underlines the importance of this feature, indicating that it offers "a complete view for teams struggling with cloud billing clarity. Enterprises can finally anticipate their cloud spend and forecast accurately, which will be essential as they transition in their cloud journeys."

A unique component of the LM Cost Optimisation capabilities includes amalgamating multi-cloud spend in a single view. This feature simplifies the visualisation of multi-cloud spend and helps users observe detailed cost breakdowns, thus facilitating data-driven decisions over multi-cloud budgets. Another pivotal feature is the provision of Intelligent AI-powered recommendations. The platform delivers proactive and reactive cost-savings suggestions related to unused resources, capacity changes and more, aiding users to make insightful resource utilisation decisions that align with their business needs and optimise performance.

Rafik Hanna, Senior Vice President at Topgolf Technologies, lauds LogicMonitor's innovation and adaptability, stating that their dedication to staying at the forefront "ensures our operations run smoothly, allowing us to focus on what matters most to us - bringing more play to the world and delivering exceptional experiences to our players."

Ultimately, as businesses contend with a challenging economic climate and increasingly intricate infrastructure management needs, LogicMonitor's latest product release offers a practical solution. By employing AI and comprehensive data analysis, they provide businesses with the tools to identify savings opportunities, enhance efficiency, and make more informed decisions. Thus, LogicMonitor's LM Cost Optimisation function in the LM Envision platform represents a pivotal step forward for businesses operating in an era of increasing financial scrutiny and resource optimisation.