Are Your Enterprise's Generative AI Products Costing You Too Much? Discover DigitalEx's New Expense Tracking Solution

DigitalEx Unveils Solution for AI Cost Management

DigitalEx, a cloud cost management software vendor founded in 2022, has launched a new solution to help enterprises tackle the rising costs associated with the generative AI boom and optimize their spending. As businesses increasingly adopt generative AI across various applications, DigitalEx’s offering empowers them to manage, optimize, and justify AI-related expenses effectively.

The platform provides a comprehensive “single pane of glass” view of costs across various LLM platforms, including AWS Bedrock, Azure OpenAI, OpenAI, and Groq. This centralized visibility addresses one of the most pressing challenges in the AI landscape: cost management. “We aim to give you a single UI, single data model, and single optimization engine to manage all your infrastructure, whether public or private, and optimize that spend,” stated Sundeep Goel, CEO of DigitalEx.

Cost Control Amid Economic Pressures

Founded by Safi Siddiqui and Darmawan Suwirya, DigitalEx specializes in cloud cost management, offering tools to help organizations optimize spending across different cloud environments. The SaaS platform enables real-time tracking of costs and usage, fostering operational efficiency and supporting digital transformation initiatives.

Beyond cost tracking, the platform includes features such as detailed cost allocation, forecasting, anomaly detection, and cost-performance analysis. DigitalEx claims that its customers save between 15-30% on average across their cloud and AI expenditures.

“The cloud has become the second largest budget line item for many organizations, trailing only payroll,” Goel remarked. “In some cases, it even surpasses real estate expenses.” He also believes that by reducing cloud expenditures, companies can avoid layoffs. “Cut your cloud bills by 30% first, and then consider layoffs if necessary.”

Comprehensive Financial Oversight

DigitalEx’s platform provides detailed insights into costs related to specific teams and AI applications, particularly valuable for organizations utilizing multiple AI solutions. By integrating with existing financial operations (FinOps) practices, the solution allows businesses to efficiently manage their AI expenditures and allocate resources for optimal ROI.

Key features of the platform include:

- Detailed Cost Allocation: Clarity on LLM costs per team or AI application in multi-LLM settings.

- Financial Management: Streamlined spending associated with AI projects.

- Cost Control: Identification of inefficiencies to enhance spending on AI initiatives.

- ROI Insights: Justification of AI investments through clear cost drivers and usage patterns.

- Decision-Making Support: Insights for better resource allocation, focusing on high-performing projects.

“Our latest release empowers businesses to leverage AI while maintaining financial control and maximizing ROI. We’re not just offering a tool; we’re enhancing strategic advantages in the AI race,” Goel stated.

Adapting to a Multi-Cloud Environment

The LLM market is evolving rapidly, with many businesses struggling to scale their AI investments due to rising costs. Goel notes, “As companies transition from AI pilots to production, expenses can skyrocket, prompting some to shift workloads back to private clouds for enhanced cost control and security.”

Anay Nawathe, North America Cloud Lead at ISG, added that the complexity of managing LLM costs has hindered widespread adoption. “Organizations looking to innovate at AI speed are adopting a multi-LLM approach across several clouds to stay competitive. However, the high cost of LLMs at scale prevents meaningful adoption. DigitalEx’s solution is well-positioned to control this growing area of technology spending.”

DigitalEx’s multi-vendor support distinguishes its solution, allowing organizations to manage LLM expenses from multiple leading platforms. This capability provides a comprehensive view of AI-related costs, addressing the needs of businesses adopting various LLMs across public and private clouds.

Looking Ahead: The Future of AI Cost Management

As more organizations integrate AI into their operations, managing costs will remain a critical focus. DigitalEx plans to continue innovating by expanding its support for on-premises LLMs and GPU-based AI workloads, ensuring it stays at the forefront of AI financial management solutions.

“We offer detailed unit economics, including cost per request, per token, and per model, providing essential granularity for effective AI workload management,” Goel emphasized, highlighting the platform’s depth of insight.