FinOps-native platform recognized alongside first generation cloud cost management solutions
SAN MATEO, Calif., Sept. 3, 2024 /PRNewswire-PRWeb/ -- Ternary, a multi-cloud FinOps platform for enterprises and managed service providers, announced today that it has been named a Leader in Everest Group's FinOps Cloud Cost Management Products PEAK Matrix® Assessment 2024.
Titus M, Practice Director at Everest Group, remarked: "Ternary distinguishes itself by offering multi-cloud cost visibility capabilities and providing SaaS and self-hosted options. Some of its standout features include its commitment spend discount modeler, commitment tracker, and custom labeling solution."
He continued, "Ternary provides a predictable fixed price model for large spend buckets, making it suitable for enterprises with increasing cloud spend. Enterprise clients have applauded the user-friendly UI of the Ternary FinOps platform, and the ability to consolidate cloud usage data from many sources to provide cost transparency."
Concluding, he said, "These factors have contributed to its positioning as a Leader on the inaugural Everest Group's FinOps Cloud Cost Management Products PEAK Matrix® Assessment 2024."
Everest Group assessed 13 FinOps and cloud cost management solutions in the market. The PEAK Matrix® positions vendors relative to two dimensions: "Market impact" and "Vision and capability." Ternary was recognized as a Leader alongside IBM Cloudability, Flexera One, and Tanzu CloudHealth (by Broadcom).
Titus M also noted that "FinOps has emerged as a key strategy among enterprises adopting the cloud, with cloud cost management products forming a fundamental pillar. Enterprises seek FinOps products that enable business-driven cost decisions, such as strong financial visibility, role-based access, guaranteed savings, cross-team collaborations, and cost intelligence. In response, FinOps cloud cost management providers are improving their product functionalities and investing in next-generation technologies to enhance their capabilities across cloud cost reporting, optimization, automation, governance, and security."
Sasha Kipervarg, Ternary CEO and FinOps Foundation Governing Board Member, welcomed the news of Ternary's position as a Leader. "As the leading FinOps-native platform, it's an honor to be recognized alongside the first generation of cost management solutions, IBM Cloudability and Tanzu CloudHealth," Kipervarg said. "This reflects the collective effort and passion of our team of FinOps experts. We're excited to continue driving progress toward delivering the best FinOps solutions for our customers and partners."
To read Everest Group's assessment of the FinOps market, including specifics on Ternary, you may access a complimentary copy at https://ternary.app/everest-group-finops-ternary-leader.
Everest Group subscribers can access the full report at https://www2.everestgrp.com/reportaction/EGR-2024-29-R-6601/Marketing.
About Ternary
Ternary enables companies to align their cloud investments with strategic business initiatives through its FinOps Certified Platform, purpose-built for Finance, Engineering, and FinOps teams. The platform empowers organizations to establish cloud cost transparency, improve cloud cost and usage efficiency, and foster communication between teams. Ternary manages more than $7B in multi-cloud spend across hundreds of customers and managed service providers. The company is backed by experienced venture capital firms, including Jump Capital and Fin Capital. For more information, please visit https://ternary.app/.
Media Contact
Media Inquiries, Ternary, 1 6509180974, [email protected], https://ternary.app
SOURCE Ternary
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