What Is Cost Allocation?
Cost allocation is the process of assigning costs to different parts of an organization, such as teams, projects, or business units, to accurately track and manage expenses. Vantage provides a few different cost allocation tools, including:- Cost Allocation Segments
Virtual tags allow you to create consistent and standardized tags across all cloud providers within Vantage. You can tag costs without needing to make changes to your existing cloud infrastructure. Virtual tags are useful for ensuring uniform tagging practices.
Why Should I Use Cost Allocation?
Using cost allocation tools like virtual tags and cost allocation segments in Vantage helps you gain better control over your cloud spending. Virtual tags ensure consistent and accurate cost tagging across all cloud providers, making your financial reporting more reliable. Cost allocation segments enable detailed tracking and governance of expenses, allowing you to allocate costs effectively.Cost Allocation Use Cases
- Financial Analyst
- Cloud Operations Manager
As a financial analyst, you can:
- Use virtual tags to standardize tagging across all cloud providers without involving the engineering team, ensuring that your financial reports are uniform and reliable.
- Use segments to identify unallocated costs. Ensure all expenses are properly assigned and accounted for. This improves financial accountability by ensuring no costs are overlooked in your financial reports.