With businesses increasingly relying on cloud computing to drive innovation and streamline their operations, the demand for service providers has grown. But this demand has created a crowded marketplace. When faced with increased competition, how can service providers differentiate themselves to continue generating new business?
Make the most of your infrastructure
With cloud costs the primary issue for many businesses, service providers have a huge opportunity to take by leveraging their own infrastructure. Proper investment in their own infrastructure can give them greater control over resource allocation, scalability, and performance. More efficient resource utilization means reduced costs and the ability to pass those savings onto customers.
Unlike hyperscalers that offer standardized solutions, service providers are in the position to offer truly tailored services that can meet the requirements of every client. Being able to provide better flexibility and customization for customers is an appealing factor in its own right, but it also creates ideal cost outcomes. When infrastructure is optimized based on the real needs of a customer, wastage and unnecessary expenses can be eliminated – meaning clients can be confident that they’re only paying for what they need.
In turn, this can allow service providers to provide predictable pricing models – another point of differentiation from competitors. In a time when cloud costs are continuing to soar, being able to rely on consistent, predictable pricing is a huge benefit for businesses that are looking for transparency and control in their cloud costs.
Focus on the advantages over hyperscalers
When there are so many service providers to choose from, customers can become confused about who can really offer them the best service and support. To stand out, it’s vital for service providers to effectively communicate their unique advantages, especially when it comes to benefits compared to hyperscalers.
The ability to offer personalized support is a major advantage that service providers should focus on. They can act as a single point of contact for all cloud-related challenges, with a level of attention and assistance that hyperscalers simply can’t offer themselves.
Service providers should also play up their proactive cloud management practices. By taking on responsibility for monitoring and managing the cloud infrastructure at a closer level than hyperscalers can offer, service providers can ensure optimal performance and quick issue resolution. That means customers no longer have to worry about infrastructure maintenance and can put all their focus into achieving core business objectives.
Using FinOps as a competitive advantage
Service providers should be giving FinOps serious consideration as another point of differentiation from their competitors. FinOps provides a framework for managing cloud costs that brings together finance, operations, and technology teams to optimize cloud spend.
As more businesses leverage hybrid and multi-cloud environments, traditional cost control measures are showing the strain. FinOps practices offer modern cost optimization strategies that resonate with customers that are looking to utilize cloud technologies at less expense.
FinOps also helps service providers go beyond cost savings by providing additional value-added services such as performance optimization, cost forecasting, and detailed financial reporting. This comprehensive approach can further differentiate them from hyperscalers while building a reputation as a trusted partner.
The FinOps platform for service providers
It’s a challenging time for service providers, but the opportunities are out there. Whether it’s by leveraging their own infrastructure, finding points of advantage over hyperscalers, or using FinOps, service providers can continue to generate new business against their competition.
With the Octopus FinOps platform, service providers can generate new business more effectively while managing costs to ensure that their customers are getting the most value from their cloud investments. They can look deeper and move further, achieving full data clarity for total cost control.