Growing FinTech, Ebury, was growing its cloud spend and needed expert advice on how to control and minimise its cloud costs.
Ebury has been a customer of Strategic Blue since 2015 and has therefore witnessed first-hand the development of Strategic Blue as a company and the services offered. In fact, much of the feedback Ebury has provided Strategic Blue over the years has been invaluable to the evolution.
Ebury, like Strategic Blue, is a financial services company that eliminates boundaries and financial blockers. Ebury deals with international payments, trade finance and FX risk management.
Being a sophisticated finance company, financial optimisation is always at the forefront of what Ebury is all about. It was no different when it came to their cloud spend and that’s what Strategic Blue and Ebury have been working towards over the last four years.
The original problem was fairly straight forward. Ebury found themselves with growing cloud spend and wanted a solution that minimised costs, this is where Strategic Blue’s offering comes in as a reseller that focuses purely on the financial side of cloud. Through committing usage through Strategic Blue, Ebury was able to get off the on-demand tariff on their cloud spend, saving significant amounts of money.
Over the course of the relationship between Ebury and Strategic Blue, the Ebury requirements have developed naturally. Being a customer that is cloud-savvy and enjoys being hands-on in this department, it became increasingly evident that Ebury didn’t just require savings, but clarity and visibility over cloud spend – the ability to track usage and costs to the penny.
One of the key challenges with committing to cloud usage, is that this can lock a customer down for periods of time. Over the last 12 months, Ebury have been making a number of cloud infrastructure changes and developments, requiring a more flexible way to save money on their cloud usage, something that isn’t possible going to the cloud vendors directly.
The relationship between Ebury and Strategic Blue has gone from strength to strength over the last year, with both parties experiencing the benefits. On average, Ebury has been able to save circa $10k per month through putting commitments through Strategic Blue. This has enabled a growing FinTech the ability to control their cloud costs, something that isn’t easy to do!
The short-term commitments have allowed Ebury to take as much usage as possible off the maximum on-demand tariff they would otherwise have to endure. Ebury was one of the first customers who supported Strategic Blue in the direction of releasing a dashboard and the feedback thus far has been fantastic. The dashboard has allowed for further clarity and discussions that otherwise wouldn’t have happened. In September 2019, Strategic Blue sponsored an Ebury-hosted event ‘Tech in Finance’ in Malaga, where both parties were able to put faces to the names and show support towards a common goal of a cloud-centric future. Strategic Blue is looking forward to the future challenges that they’ll work on with Ebury to help reduce costs and provide clarity.
Strategic Blue’s bread and butter is reducing cloud costs for their customers, so this is where energy was focused at first. By stepping into the billing chain, Strategic Blue was able to offer significant discounts against the on-demand cloud costs and additional discounts over the cloud provider. This is done through commitments through Strategic Blue, where a customer commits to cloud usage in exchange for a discount – this has enabled a fast-growing FinTech like Ebury to keep on top of their cloud spend.
Rather timely, as Ebury needed to track usage and costs to the penny, Strategic Blue rolled out their new dashboard which allows usage, costs and savings to be monitored and reported on. This has been a big step in Strategic Blue’s offering and the customer success team can now provide assistance beyond the initial money saving. As with most companies, Ebury found themselves in a position whereby committing usage for the standard one-year and three-year term length offered by the cloud vendors wasn’t feasible. This was due to shorter-term projects and architecture plans that meant that this term length was counterproductive. As part of the offering, Strategic Blue take the risk for committed usage, allowing term lengths that are far more flexible than direct to the cloud vendor, such as 3-month, 6-month, or 9-month commitments – allowing for Ebury to focus on their cloud objectives whilst Strategic Blue focus purely on reducing costs where possible.
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