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As the pandemic has driven organizations of all types to hasten their migration to the cloud, many IT leaders are now finding themselves in the midst of those migrations, faced with unexpectedly high monthly bills and a dimming economic outlook.
The cost of cloud computing has been on the rise for some time, as demand for cloud services has outstripped supply. In other words, it's not new; however, the pandemic and economic volatility has certianly exacerbated the situation as companies have rushed to move more of their operations and data online.
This has left many CIOs scrambling to find ways to control their rising cloud costs. In some cases, this has meant rethinking their cloud strategy altogether and moving some workloads back on-premises. In others, it has meant renegotiating their contracts with cloud providers. Either way, the pandemic has put a renewed focus on the cost of cloud computing and how to get the most value out of it. As organizations continue to migrate to the cloud, CIOs will need to be even more mindful of their costs in order to ensure that their investment pays off.
As enterprises increasingly look to the cloud to power their businesses, CIOs are under pressure to control costs. Cloud providers offer a variety of pricing models, and it can be difficult to predict how costs will evolve over time. As a result, many CIOs are turning to equipment finance solutions to help them manage their cloud expenses.
Equipment financing can help CIOs keep their overall capital expenditures in check while still being able to take advantage of the latest cloud technologies. By working with a financial partner, CIOs can structure a flexible financing solution that meets their specific needs.
At CoreTech, we offer our clients fixed rate financing solutions so that companies can enjoy the benefits of stable monthly payments and peace of mind knowing that payments won't increase unexpectedly. This type of financing can be a good option for businesses operating on a budget or if interest rates are expected to rise. There's an additional possibility to lock in a lower interest rate with fixed rate financing. We can finance 100% software projects including consulting, implementation, training, etc.
With an equipment finance solution in place, CIOs can have peace of mind knowing that they are making the most efficient use of their cloud budget. As a result, they can focus on driving business value from the cloud, rather than worrying about how to pay for it.
If you're a CIO struggling to control your cloud costs, consider an equipment finance solution. It could be the key to unlocking the full potential of the cloud for your business. Contact us today at info@coretechleasing.com to speak with a consultant to help push you in the right direction and closer to achieving what you're looking for.