ROCKVILLE, MD, Nov. 07, 2024 (GLOBE NEWSWIRE) -- CloudBolt Software, The Cloud ROI Company™ and a recognized leader in cloud FinOps, today announced that it is pursuing a strategic partnership with CloudEagle.ai, a leading SaaS management and procurement platform.
As FinOps practices become more mature, organizations are increasingly seeking to expand the boundaries of cloud financial management. The partnership between CloudBolt and CloudEagle.ai responds to this shift, moving towards a more unified approach to optimizing and governing both cloud and SaaS spend.
The companies believe that once integrated into CloudBolt’s robust cloud cost optimization platform, CloudEagle.ai’s automated AI-driven optimization and governance capabilities will significantly reduce SaaS licensing-related inefficiencies and further ensure continuous cost optimization with minimal human intervention.
The SaaS Management Platform (SMP) and CCM markets are valued at approximately $4 billion and growing at a 15-18% CAGR, highlighting the increasing demand for effective SaaS optimization. However, many enterprises still struggle with siloed solutions that hinder their ability to manage cloud and SaaS spending holistically. As FinOps practices evolve, organizations are actively seeking integrated tools that encompass both cloud and software governance.
"The reality for today's cloud consumers is an overwhelming amount of 'sources of truth,'" said Kyle Campos, Chief Technology and Product Officer at CloudBolt. "The goal is currently and will always be to get to total cost of ownership for cloud costs. Today’s announcement represents CloudBolt putting another stake in the ground to make this a reality. By partnering with CloudEagle.ai, we intend to simplify and unify the fragmented landscape of cloud and SaaS management to achieve greater returns on cloud investments for our customers."
The new alliance has the potential to help companies further improve overall cloud value and ROI by offering:
- Enhanced cost visibility: Leveraging CloudBolt's tools and CloudEagle.ai's benchmark data to identify and act on SaaS optimization opportunities.
- Unified dashboard experience: Accessing CloudEagle.ai's KPIs within the CloudBolt Optimization dashboard for a comprehensive view of both cloud and SaaS spending.
- Continuous optimization: Utilizing the CloudBolt FinOps platform to highlight ongoing savings opportunities and streamline procurement and onboarding processes.
“We believe this exciting new relationship will enable organizations to manage their cloud and SaaS expenditures like never before," said Nidhi Jain, CEO at CloudEagle.ai. "By integrating our AI-driven SaaS optimization solutions with CloudBolt’s powerful platform, we jointly will be able to deliver unprecedented visibility and cost savings."
This partnership is part of CloudBolt’s Tech Alliance program, designed to create an ecosystem of integrated solutions that augment the company’s proprietary development efforts to further expand and enhance the CloudBolt Platform's cost capabilities. By bringing together specialized best-in-breed FinOps-related solutions, CloudBolt continues to rapidly drive innovation and provide its customers with evermore comprehensive cloud financial management functionality.
The intent is for the new combined capabilities to be generally available in the CloudBolt Platform in Q1 2025. To learn more, visit cloudbolt.io/solutions/saas-management/
Safe Harbor Statement:
This press release contains forward-looking statements and is intended to outline general aspects related to CloudBolt's product direction. It is not a commitment to deliver any materials, code, or functionality, and should not be relied upon for purchasing or investment decisions. The development, release, and timing of any features or functionality for CloudBolt’s products - or assurance of integration of any partner company’s capabilities - remains at the sole discretion of CloudBolt.
About CloudBolt Software
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. For more information, visit www.cloudbolt.io.
About CloudEagle.ai
CloudEagle.ai helps IT, security & procurement teams manage, govern & renew all their SaaS apps from one single platform. Along with making SaaS management & governance a breeze, CloudEagle.ai has processed over $2bn and saved enterprises like RingCentral, Iceye, Shiji over $150M. Using 500+ direct integrations and no code slack-enabled workflows, IT & security teams get 100% visibility into all applications, streamline employee onboarding/offboarding, access reviews, licence harvesting and renewals. To know more, visit https://www.cloudeagle.ai/.
