About Qventus
Qventus is a healthcare technology company founded on the belief that world-class healthcare requires world-class operations. In response to the struggle of healthcare providers to operate efficiently in the face of growing costs and increasingly strict regulations, Qventus created an AI-based SaaS solution. This solution uses AI, machine learning, and behavioral science to automate healthcare operations, creating a simplified and more efficient process
Key results
- Cost Savings - 15% AWS cost savings in the first 6 months.
- Visibility - Holistic view of all costs across the 3 major providers.
- Granularity - Ability to drill down and trace expenses from start to finish, making it easy to identify saving opportunities.
- Efficiency - Each user can see the information relevant to them, saving time previously spent sifting through multiple spreadsheets.
“The 15% cost savings can be partially, if not completely, attributable to the better visibility we are getting from Finout”
Andy Wortman | Senior DevOps Engineer
Qventus’ FinOps challenge
As a fast-growing company using several different cloud service providers, Qventus was seeing costs skyrocket with little to no visibility into what was driving the costs. Without understanding where costs were coming from, it was difficult to determine if and where cost savings could be realized.
“Our biggest problem was that we have multiple vendors - AWS, Snowflake and Datadog. We didn’t have a holistic view across all three vendors and were relying on a lot of ‘back of the napkin’ math.”
Andy Wortman | Senior DevOps Engineer
In the fast-paced world of the tech industry, Qventus is constantly under pressure to swiftly develop and deploy new features to meet the ever-evolving demands of customers and the market. In doing this, it was easy to lose sight of costs and allow them to spiral out of control. While Qventus efficiently harnessed AWS Cost Explorer to keep a check on expenses associated with AWS, challenges remained in navigating the cost structures of other vendors like Snowflake and Datadog.
Several manual methods were used to track expenses, but they often depended on rough estimates and didn't offer clear insights for improving efficiency. For instance, they once found an unused service costing them $900 a month. It was evident they needed a faster way to catch these oversights instead of hoping to notice them during manual checks.
Why Finout?
The Qventus team took the process of choosing a cloud cost management solution very seriously. They spent two months evaluating and analyzing several different options, comparing and contrasting reporting capabilities and data accuracy. At the end of the process, Finout was the clear winner.
“We are a data-driven company - we understand the value of this data and we weren’t getting what we needed from our vendors directly. We needed somewhere to be able to put all this data and analyze it in a much more intelligent way. And that is what Finout gave us.”
Andy Wortman | Senior DevOps Engineer
Several standout features of Finout set it distinctly apart from the competition:
- Support - Among all the solutions explored, the support quality and functionality varied widely. Finout proved to be the most aligned with our needs.
- Configurability - When it came to customization, Finout excelled, enabling to tailor different dashboards and generate reports just the way we wanted.
- Cost Tracing - Being able to track and understand rising costs is crucial. With Finout, we could trace any cost increase and pinpoint its cause, making it a significant factor in our decision.
The Results of Onboarding Finout’s Cloud Observability Platform
Life at Qventus before and after Finout is like night and day. The shift from using an assortment of spreadsheets and guesswork to accurate data presented in clear and usable formats resulted in 15% AWS cost savings in the first 6 months.
The most beneficial features include:
Virtual Tags
Using Virtual Tags, the Qventus team can accurately determine the cost associated with each customer. This clarity helps in pricing proposals for potential clients and facilitates more informed, data-driven decisions.
“We can see how our costs grow when we go live with a new customer. That was a big thing that we couldn’t tell before because it all gets rolled up into one giant bill.”
Andy Wortman | Senior DevOps Engineer
Customized Dashboards
- Managers from various departments now access their tailored cost projection dashboards on a daily basis. By logging into their Finout account, they're presented with a view containing only the information relevant to their role.
“The managers don’t have to pull the data out of multiple systems and I don’t have to spend time giving it to them. They just login and see the information they need. Finout tells them here’s how we are trending this month compared to last and then they can ask questions like why are our costs 5% higher, or our costs are 5% lower, can we expect that to continue?”
Andy Wortman | Senior DevOps Engineer
Support Team
- Finout’s customer support team has proven themselves to be responsive and quick to address any issues that arise. The Qventus team has peace of mind knowing that they have instant access to personalized support whenever they need it.
“ I have been incredibly impressed with the responsiveness of the Finout team. When I point out a problem, a fix is rolled out to the platform in days or even hours. It’s very impressive.”
Andy Wortman | Senior DevOps Engineer
The Bottom Line
Having one holistic tool that provides a detailed view into all cloud costs across vendors has saved Qventus significant time, effort, stress and - most importantly - has enabled them to obtain their goal of becoming more cost-efficient through increased visibility into their spending.
By understanding what is driving costs as well as where extraneous costs can be cut, the Qventus team was able to reduce their cloud costs by 15% in just the first six months of using Finout. Those are the results we aim to see!
