Cost Optimization Solutions from Amazon Web Services to support Kolkata based start up- iMerit Technology

Ambar Bhattacharya, Takmaa News, Kolkata, 1st July 2022 : Amazon Web Services (AWS), the world’s most comprehensive and broadly adopted cloud offering today announced their Cost Optimization Solution services in association with Kolkata based iMerit Technology. AWS’s committed to the success of start-ups and strategies for growing and scaling a lean business on the AWS Cloud. The new Cost Optimization Solution from AWS will help iMerit technology to generate jobs to the tune of 10,000 globally over a period of two years. The Kolkata head quartered iMerit Technology shared that of the total job creation around 60% of it will be placed in Kolkata. iMerit Technology is one of AWS’s customers in Kolkata, using their cloud solutions to grow and scale.

Cloud services are cost-effective and can quickly give startups access to computing resources as they need them on a pay-as-you go basis. The cloud de-risks the growth process and ensures startups do not need to invest heavily in anticipation of future demand.This means that startups can experiment at a greater pace, fail fast with low financial impact, and recover more easily if they do.Some of AWS’s focused offerings to help startups optimize their costs include:

• AWS Cost Explorer allows clients to better manage their spend and even set alarms when specific thresholds are reached.
• AWS Budgets enables customers to set custom budgets to track your cost and usage from the simplest to the most complex use cases.
• AWS Trusted Advisor provides an online tool that enables startups to reduce costs, increase performance, and improve security by checking their use of infrastructure and services, it also provides suggestions to optimize performance.
• The AWS Well Architected Reviewhelps startups review the state of their workloads and compares them to the latest AWS architectural best practices.
• AWS Activateprovides qualified startups with a host of benefits, including AWS credits, technical support, and training.Over the past two years, AWS has provided more than US$2 billion in Activate credits to help early-stage startups launch their businesses and accelerate their growth. AWS also offers the Activate Console, which is designed to support founders through every stage of their journey: from the initial idea to building the minimum viable product to securing the first customer to scaling the business on AWS and beyond. The Activate Console offers founders personalized recommendations on a wide range of training topics that might be of interest based on their AWS usage.

Kumara Raghavan, Head, Startups India, Amazon Internet Services Private Limited said, “Amazon’s fly wheel states that lower prices and higher quality of products will attract more customers. Keeping this ideology in mind, at AWS, we have reduced cloud prices 115 times since 2006 as of April 2022. The three biggest budget items for a startup are people expenditure, cloud spends and marketing costs. Through a set of a proactive and reactive mechanisms, we enable startups to reduce the cloud costs.”

 “AWS has been a true partner for us in our growth. While our revenue has grown almost twice every year for the past five years, our technology spend has not grown in a linear manner. With AWS, we are able to monitor costs closely, which enables us to grow and scale. This allows us to focus our spends on enabling job creation and with AWS’s support, we hope to create 10,000 jobs incrementally in the next two years, across the world,” says Tapishnu Chaudhuri – Chief Financial Officer,iMerit.

One of the startups that AWS works with in Kolkata is iMerit.  iMerit provides digital services like high-quality data across computer vision, natural language processing and content services that powers machine learning and artificial intelligence applications for large enterprises. iMerit leveraged AWS’s Cloud Financial Management, a set of tools that can help optimize cloud spend, to understand past spend analysis and savings scope to address their concern on increasing cost. Based on this analysis, AWS identified solutions such as Reserved Instances,Savings Plan, Enterprise Discount Plan, Right Sizing, Spot Instances, AMD and Graviton adoption and Amazon S3 Lifecycle policies to help reduce their cloud cost. With such initiatives, iMerit was able to saveapproximately 20% on their monthly bills.