Newvem Helps AWS Customers WIN on the AWS Reserved Instance Marketplace
Amazon Web Services recently announced their new marketplace where AWS customers can buy and sell Reserved Instances to other AWS customers.
Why is this important?
1 - AWS allows customers to offload un-necessary Reserved Instances. This is great news for AWS users that are not utilizing Reserved Instances efficiently. The marketplace allows AWS users to release the 1-3 year Reserved Instance contract by selling it to an interested buyer.
2 - Newvem identifies exactly which Reserved Instances they should sell. The only real challenge for the seller is to find which Reserved Instances aren’t utilized efficiently in line with their AWS consumption.
Remove Cloud Lock-in
This marketplace validates Werner Vogels’s (CTO, Amazon) vision of empowering AWS customers not to be locked-in to their service:
If we are not delivering the right quality of services, you should be able to walk away. You, the consumer of these services, should be in full control. That is core to our philosophy.” Vogels on April at AWS NYC event
This means that the AWS cloud customer can be released from the reserved instance 1-3 years’ commitment. The challenge for the AWS customers is to find poorly utilized Reserved Instances and execute a smart decision to place them on AWS Reserved Instances marketplace.
We’ve been uncovering Reserved Instances that aren’t aligned with our customers’ usage. Now Amazon has stepped up and effectively offered an option for their customers to end their 1-3 year RI contracts early. This is a huge win for AWS customers, AWS, and Newvem” Zev Laderman, CEO and Co-Founder.
Newvem helps you to WIN
We provide a seamless solution that both compliments the marketplace and enables AWS customers to reach the best value by literally showing which RIs are underutilized and should be considered for placing on the marketplace.
A component within Newvem Analytics, Newvem’s Reserved Instance feature helps AWS users make the right decision across the Reserved Instance lifecycle:
- Revealing which On-Demand instances are good candidates to move to Reserved Instances
- Identifying poorly utilized Reserved Instances that have already been purchased
- Alerting which Reserved Instances are about to expire and recommendations if they should be renewed.
About the Author
Cameron Peron is VP Marketing at Newvem. Prior to this, he led the go to market strategy and execution behind several successful startups, including BIScience and Matomy Media. Contact him: [email protected]