How much are your enterprise’s gen AI products costing you? DigitalEx launches new expense tracking solution

DigitalEx, a two-year-old cloud cost management software vendor, has unveiled its latest solution designed to help enterprises address the increasing challenge of managing costs associated with the generative AI boom and maximize their spending.

As businesses rush to experiment with and ultimately embrace gen AI across various internal or customer-facing applications, DigitalEx’s new offering empowers organizations to control, optimize, and justify their AI-related expenses.

The solution offers a centralized “single pane of glass” view of expenses across different LLM platforms including AWS Bedrock, Azure OpenAI, OpenAI, and Groq, enabling enterprises to gain visibility into one of the most pressing concerns in the AI space—cost management.

“We aim to give you a single UI, single data model, and single optimization engine to manage all of your infrastructure, whether it’s public or private, and optimize that spend,” said Sundeep Goel, CEO of DigitalEx, in an interview with VentureBeat conducted late last month.

Can saving on cloud and AI costs help enterprises avoid layoffs?

Founded in 2022 by Safi Siddiqui and Darmawan Suwirya, DigitalEX focuses on cloud cost management solutions, offering tools to help businesses optimize spending across public and private cloud platforms.

It has since become a leader in AI-driven cloud cost management solutions, offering a SaaS platform that ingests and tracks cost and usage information across both public and private clouds.

DigitalEx’s platform is trusted by enterprises and systems integrators, providing real-time visibility and control over cloud spend, helping organizations improve operational efficiency and achieve their digital transformation goals.

Beyond just tracking costs, DigitalEx’s platform offers a range of features designed to support more efficient financial oversight, from detailed cost allocation and forecasting to anomaly detection and cost-performance trade-off analysis.

Ultimately, DigitalEx claims to save its enterprise customers between 15-30% on average across its cloud and AI product spending.

“Cloud is now the second biggest budget line item for many of our customers, right behind payroll. In some cases, it’s even larger than real estate expenses,” Goel told VentureBeat, underscoring the financial pressures organizations face in managing cloud and AI expenses.

Furthermore, the CEO believes that his product can actually help enterprise customers retain talent.

“It hurts my heart when people are losing their jobs while companies are wasting money on the cloud,” he said. “Lower your cloud bills first by 30% and then lay off if you have to.”

What DigtalEx’s financial operations monitoring platform offers: comprehensive oversight

DigitalEx’s platform provides detailed insight into costs associated with specific teams and AI applications, particularly for organizations using multiple AI solutions.

By integrating seamlessly with existing financial operations (FinOps) practices, the solution helps businesses efficiently manage AI spending and allocate resources where they generate the greatest return on investment.

The platform is designed to serve a wide range of users, including FinOps analysts, application developers, data scientists, and executives. Key features include:

• Detailed Cost Allocation: Provides clarity on LLM costs per team or AI application in multi-LLM environments.
• Financial Management: Streamlines AI-related spending with a robust FinOps approach.
• Cost Control: Helps businesses identify inefficiencies and optimize their spending on AI projects.
• ROI Insights: Allows organizations to justify AI investments by clearly demonstrating cost drivers and usage patterns.
• Decision-Making Support: Provides insights for better resource allocation, helping companies focus on high-performing projects.

“Our latest release empowers businesses to harness the full potential of AI technologies while maintaining financial control and maximizing return on investment. We’re not just offering a tool; we’re providing a strategic advantage in the AI race,” Goel said in a press release.

Multi-vendor, multi-cloud support

The LLM market is evolving rapidly, with new models emerging almost daily. As a result, many businesses face difficulties scaling their AI investments due to rising costs.

“We’re seeing companies run AI pilots in public clouds, but as they move to production, costs can become exorbitant,” Goel said. “Many are repatriating workloads to private clouds for better cost control and security.”

Anay Nawathe, NA Cloud Lead at ISG, explained that this complexity has prevented widespread adoption of LLMs at scale.

“Organizations looking to innovate at the pace of AI are embracing a multi-LLM approach across multiple clouds to maintain a competitive edge,” Nawathe said in a statement made in DigitalEx’s press release. “However, the cost of LLMs at scale prohibits many from adopting them meaningfully. DigitalEx’s solution is well-positioned to control this growing area of technology spending.”

One of the key differentiators of DigitalEx’s solution is its multi-vendor support, allowing organizations to manage LLM expenses from several leading platforms, including AWS Bedrock, Azure OpenAI, OpenAI, and Groq.

This multi-cloud approach gives businesses a comprehensive view of their AI-related costs, a critical need as more companies adopt a mix of LLMs across public and private clouds.

Looking ahead

As more organizations integrate AI into their daily operations, cost management will remain a crucial aspect of AI adoption. DigitalEx aims to continue innovating in this space by expanding its support to include on-premises LLMs and GPU-based AI workloads, ensuring that it remains at the forefront of AI financial management solutions.

“We give you unit economics: cost per request, per token, and per model. This level of granularity is essential for managing AI workloads effectively,” Goel added, emphasizing the detailed level of visibility the platform provides.