In a report by [[Gartner]], a survey of 200 IT leaders revealed that 69% experienced budget overruns in their organizations' cloud expenditures during 2023. Conversely, 31% of IT leaders whose organizations stayed within budget attributed their success to accurate forecasting and budgeting, proactive monitoring of spending, and effective optimization. <ref>{{Cite web |title=2024 Cloud Spending: IT Balances Costs with GenAI Innovation |url=https://www.gartner.com/peer-community/oneminuteinsights/omi-keeping-cloud-costs-check-it-leader-perspectives-rfz |access-date=Nov 16, 2024 |website=Gartner Peer Community}}</ref> According to the 2024 Flexera State of Cloud Report, "cost savings" is the top cloud initiative for all organizations, with 60% of respondents citing it as their primary objective. <ref name=":2" />
According to theThe 2024 Flexera State of Cloud Report:Aidentifies significantthe majoritytop (65%)cloud ofchallenges respondentsas measuremanaging progresscloud towardspend, followed by security concerns and lack of expertise. Public cloud goalsexpenditures primarilyexceeded throughbudgeted amounts by an average of 15%. The report also reveals that cost savings is the top cloud initiative for 60% of respondents. TheFurthermore, second-most65% citedmeasure metriccloud progress through cost savings, while (42%)isprioritize shorter [[Time to market|time-to-market]], indicating that cloud's promise of accelerated deployment is often overshadowed by cost concerns. <ref name=":2" />
