The AWS Standard Reserved Instance Marketplace offers some of the highest discounts on Standard Reserved Instances with short term commitments to boot
Quick Recap of Marketplace Benefits
- Offerings often have at least double the discount present in standard reserved instances
- The term commitment for these may be as small as 30 days
Higher discounts along shorter remaining term duration is often a fantastic option to increase RI coverage and maximize savings.
- You already may have a mix of standard, convertible and spot instances in your portfolio
- It can be a challenge to identify which instances are the best candidates to be covered with Marketplace RIs
- Matching your needs with marketplace offerings and comparing pricing is time consuming
In order to maximize your savings by utilizing the marketplace, it is necessary to constantly be on the prowl for the best deals that align with your current needs. This can be a difficult and time consuming activity. It requires a deep understanding of the financial and technical components of your organization’s operations. For a large organization this can take hours out of a highly skilled resources day in order to handle efficiently. This is a primary reason that many companies are currently under-utilizing the savings opportunities presented by the marketplace.
Luckily there are some options to automate this important task. Here at Cloudwiry, we evaluate Marketplace RIs as part of our RI Maximizer Autopilot allowing us to help our clients avail themselves of this powerful option.
Our system continuously scans the marketplace to match available instances with our clients’ needs and make purchase decisions as part of their holistic RI strategy. This includes performing exchange operations for existing Convertible RIs and purchasing Marketplace RIs to maximize the net savings for our clients. Recently one of our clients was able to save over $61k with an investment of $43k in marketplace RIs with ROI of over 140%.
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