Verato

The growth of HealthTech company, Verato, led to increased cloud costs. They wanted to reduce and have visibility of their spending.

Verato is a cloud-based HealthTech company providing healthcare organisations with advanced data accessibility and patient matching resources. They use referential matching to link patient records across different systems and enterprises, revolutionising their clients’ capabilities. Their services are built entirely in the cloud, and their continuing success has led to an increase in associated cloud costs.

Verato now has complete visibility over their cloud spend

We provided flexibility to match its agile business needs

Verato has increased its savings on committable services by 189% per month

Challenge

Flexibility was really important to the team at Verato. Most cloud vendors offer either 1 or 3-year contracts. However, Verato needed contracts to end at the same time as existing commitments. Strategic Blue was able to offer tailored 22-24-month Reserved Instance and Savings Plan style packages. This flexibility allowed additional savings to those available with the cloud vendor.

Results

Being able to provide Verato with a seamless transition between our and their existing contracts meant that they had additional freedom with their cloud purchasing.

The reporting capabilities that are included in our service gave them increased visibility of their spend and a better understanding of areas that were costing more than others.

Working together, we have reduced Verato’s cloud costs and our ongoing cost analysis sessions will allow us to continue to identify further cost savings.

Solution

Verato was already aware of common cloud cost optimisation techniques and had already made usage commitments. They were already adept at exploring the vendor’s own vendor pricing model and discount schemes to drive cost efficiencies. However,  even in this context, Strategic Blue’s unique approach to cloud FinOps enabled both additional flexibility and further savings.

Getting to know their business on a more personal level meant that our solutions could be built to resolve their specific issues, rather than trying to make their issues fit in with our services. Our People Powered FinOps service continually looks for potential savings that suited Verato’s needs.

With our unique approach to cloud FinOps, we provide Verato with an enhanced discount on a custom Reserved Instances and Savings Plan style package.

Speak to our Financial Solutions Architects.

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