A fundamentally new way to save on your AWS EC2 workloads by making short-term, 1-month commitments.
What are the AWS Reserved Instances and Saving Plans?
Not too long ago, AWS introduced new savings options for customers… much like your cell phone plan, you get a better price per minute when you commit to a long-term contract… Both Reserved Instances and Saving Plans are AWS discount billing concepts. You can obtain significant discounts compared to standard “On Demand” EC2 pricing in return for committing to a specified level of usage, typically over one — three years.
If you’re new to AWS reservations or saving plans, commitment means that you will pay the agreed hourly price even if you’re not using the service, e.g., running EC2 instances.
What can go wrong with AWS Reserved Instances or Saving Plans?
As long as your workloads are predictable and relatively stable over time, AWS Reserved Instances and Saving Plans are excellent options.
However, if at least some of your workloads are on the less predictable side or you plan to modernize your tech stack, typically, it would be unwise to make long-term commitments because you’ll risk underutilizing these reservations, thus spending more than necessary.
In other cases, for various reasons, your CFO may not want to put long-term commitments on the books, which may also prevent you from purchasing AWS Reserved Instances or Saving Plans.
Meet Flexible Reservations from DoiT International!
Flexible Reservations (or Flex RIs), available exclusively from DoIT International, are a new way to save at least 80% of what you’d be saving with convertible reservations or saving plans. With Flex RIs, you’ll eliminate lock-in risk for your less predictable workloads by making commitments in one-month intervals.
How much can I save every month with Flexible Reservations?
You will realize 80%+ of the discount granted by the applicable AWS Reserved Instance 1-year full upfront commitment.
For example, AWS grants a 19.5% discount on RIs from the m5 instance family in the us-west-1 region. By comparison, a DoiT FlexRI for this machine/region combination will provide you with a 15.6% (19.5% * 0.8) discount but without the need to commit for an entire year. How about them apples!
Unlike with RIs or Saving Plans, which require at least 50% upfront payment to get large(r) discounts, you never pay anything upfront with Flex RIs.
Here is another example when comparing discounts: a 1-year Saving Plan, a 1-year (convertible) RI, and finally a DoiT Flex RI. See the table below, DoiT Flex RI provides an effective 32.80% discount versus on-demand pricing of m5.xlarge instance, making it more cost-effective than even the Saving Plan option!
Review the frequently asked questions about Flexible Reservations at https://help.doit-intl.com/flexible-reservations/flexri-faq.
How do I manage Flexible Reservations?
The DoiT’s Cloud Management Platform helps the developers and system administrators at digital-native companies improve cloud operations, maintain security, control cost, and ensure governance of its cloud estate. It has five strategic pillars: Analytics, Optimization, Enablement, Productivity, and Governance.
Flexible Reservations have the same, intuitive user interface as the DoiT Cloud Management Platform. You can start with reviewing the Recommendations — ML-assisted suggestions for flexible reservations matching your past usage patterns.
My colleague, Matan Bordo, has recorded a clever, 4-minute demo of the Flexible Reservations in action.
Leave a note, if you’re interested in learning more and getting access to DoiT Flexible Reservations or an entire Cloud Management Platform.