Getting to Know Cost Center

Updated on 2024-07-30 GMT+08:00

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Overview

Cost Center is provided as a free financial management service. It helps you learn about the distribution and drivers of cloud expenditures in a timely manner to reduce unexpected expenditure spikes and find cost-saving opportunities.

Application Scenarios

Cost Center provides you with cost data required for different scenarios. It aims to provide a data-backed reference for stakeholder decision-making through scientific management and various cost control methods.

Using Tools to Group Costs: Cost Center allocates and groups the incurred expenditures based on your business needs, for example, based on the actual user or consumption, and shared costs by proportion within the organization.
Making Cost Analysis to Explore Costs and Usage: Cost Center analyzes cloud expenditures in different dimensions. Cost Center visualizes your original costs or amortized costs from various dimensions and filters for precise cost analysis. It helps you learn the distribution and drivers of your costs and usage from a variety of perspectives or within different defined scopes.
Enabling Forecasting and Creating Budgets to Track Cost and Usage: You can use budget management tools to precisely track your costs and usage of specific products, teams, and projects in a refined manner based on your expenditure forecasts or planned budgets.
Enabling Cost Anomaly Detection to Identify Anomalies: Cloud costs are variable and cloud resources are scalable. After an enterprise migrate their services to the cloud, one of the challenges they face is how to monitor unexpected expenditure spikes. Cost Center provides Cost Anomaly Detection to help you detect cost anomalies in a timely manner and analyze and track these anomalies.
Changing Billing Modes and Reducing Idle Resources to Optimize Costs: Cost Center analyzes the usage of pay-per-use resources, RIs, and savings plans, and provides optimization recommendations for idle resources. This helps lower the billing rate and reduce your costs on Huawei Cloud.

Differences Between Cost Center and Billing Center

Billing Center is a transaction settlement tool for managing your orders, bills, and invoices.

Cost Center offers a set of tools and solutions to help you with internal settlement and provide cost analysis and financial management.

If you want to settle transactions with Huawei Cloud and understand your expenditures better, including the bill overview and details, you can log in to Billing Center to export different types of billing details. If you want to deal with internal settlement, manage costs, learn various dimensions of cost data, you can get started with Cost Center to improve fund utilization.

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