Google Cloud has taken a significant step in aiding enterprises to optimize their cloud expenditure with the launch of its new Pricing API. The new API is currently available in public preview and comes as an improvement over Google’s existing Billing Catalog API. This new tool promises to enhance the way businesses manage their cloud costs by offering intricate analysis and custom solutions. As Shruthi Nambi, product manager at Google Cloud, wrote in a blog post, the Pricing API provides a comprehensive view of “negotiated contract pricing and discounts, if any, for all the SKUs, specific to your account.”
Features of the Google Cloud Pricing API
The Pricing API extends beyond the capabilities of the Billing Catalog API. While the latter offers an inventory of public services and SKUs at list prices, the Google Cloud Pricing API also supplies:
- Inventory of Public Services and SKUs: Gain an overview of public services, SKUs, and their prices.
- Account-specific Custom Prices and Discounts: Access negotiated pricing and discounts tailored to your account.
- Advanced SKU Analysis: Achieve advanced analysis capabilities with SKU groups, SKU-to-SKU group mapping, geo taxonomy, and product taxonomy.
Benefits for Enterprises
Enterprises can leverage the new Pricing API for:
- Cost Optimization Across Regions: Analyze similar types of resources priced differently across regions for cost control.
- Analyzing Spikes in Cost Reports: Utilize this API with usage metrics to detect and examine any unusual spikes in cost reports.
Industry Focus on Cost Optimization
The push for cloud cost optimization isn’t limited to Google alone. Major players like AWS and Microsoft also emphasize cost control. Google Cloud’s Pricing API stands out by offering unique insights into cost optimization, catering to the specific needs of the current macroeconomic uncertainty.
According to the AWS chief financial officer, Brian Olsavsky, enterprises will likely continue their cost optimization efforts through the end of the year. The Google Cloud Pricing API seems perfectly timed to assist in these efforts.
What do you think of the new Google Cloud Pricing structure?
The Google Cloud Pricing API heralds a new era in cloud cost management, providing the tools businesses need to operate efficiently and economically in these challenging times. From enabling precise analysis of SKUs to offering account-specific custom prices, the opportunities for optimization are endless. Your thoughts matter to us! Please share your opinions or experiences with cloud cost optimization in the comments below.
