In 2020, annual company cloud waste was estimated at $17 billion, largely lost on idle and excess resources. This was according to Jay Chapel, CEO and co-founder of ParkMyCloud. Chapel should know. His company makes a business out of helping corporate IT departments identify wasted cloud assets and excess spend. “For example, one healthcare IT provider was found to be wasting up to $5.24 million annually on their cloud spend — an average of more than $1,000 per resource per year,” he said.
