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ParkMyCloud Bolsters Amazon AWS Cloud Cost Management Tool

If left unchecked, customers could face runaway cloud services costs each time they activate another IaaS, PaaS or SaaS service. With that reality in mind, ParkMyCloud is one of several companies that offers cloud cost management tools for businesses.

At this week's AWS re:Invent 2018 conference in Las Vegas, ParkMyCloud focused on a new feature called SmartSizing. Slated for release in January 2019, SmartSizing will allow customers to automatically tier up or tier down resources based on usage and needs, the company claims.

How much can customers potentially save from the new tool? ParkMyCloud claims the savings could reach 75 percent in some cases. Moreover, the potential savings extend beyond AWS. ParkMyCloud also supports Google Cloud Platform (GCP), Microsoft Azure and Alibaba.

It sounds like a promising offering. But the cloud cost management tool market is getting crowded. Key players include Flexera's RightScale; Microsoft's Cloudyn; Cloudability; and Kaseya's Unigma.