What is Cloud Portfolio Management
Cloud portfolio management refers to the tools and processes required to help organizations track spend and governance for cloud based resources. As organizations become increasingly more reliant on the cloud, having this visibility is crucial to ensuring that organizations remain within budget, secure, and operating within the terms of the license agreement.
Cloud portfolio management must be integrated with the broader software portfolio management process in order to achieve clear visibility into all assets in the organization’s stack, on-premises or in the cloud.
“Software portfolio management is becoming an increasingly difficult job. With software making a steady transition to the cloud, companies are left trying to create an integrated and comprehensive approach to manage both their on-premises and cloud-based software. There are serious risks to not managing all software correctly, from cost overruns to performance issues to compliance concerns. For most companies, they simply don’t have the tools yet to get a full-picture of all of their software, and the result is a bit like a single person trying to be in two places at once: there’s always going to be something you’re not seeing completely.”