Cloud technologies remain a highly cost-effective solution for computing. In the early days, these technologies signaled the end of on-premise hardware, floor space and potentially staff. Now, the focus has shifted to properly optimizing the Cloud environment to continue reaping the cost benefits. This is particularly the case for Biotech and Pharma companies that require a great deal of computing power to streamline drug discovery and research. 

Managing costs related to your computing environment is critical for emerging Biotechs and Pharmas. As more data is collected, new compliance requirements emerge, and novel drugs are discovered and move into the next stages of development, your dependence on the Cloud will grow accordingly. It’s important to consider cost optimization strategies now and keep expenses under control. Optimizing your Cloud environment with the right tools, options, and scripts will help you get the most value and allow you to grow uninhibited.

Let’s explore some top cost containment tips that emerging Biotech and Pharma startups can implement.

Ensure Right-Size Solutions by Automating and Streamlining Processes

No one wants to pay for more than they need. However, when you’re an emerging company, your computing needs are likely to evolve quickly as you grow.

This is where it helps to understand instance types and apply them to specific workloads and use cases. For example, using a smaller instance type for development and testing environments can save costs compared to using larger instances meant for production workloads.

Spot instances are spare compute capacity offered by Cloud providers at a significant discount compared to on-demand instances. You can use these instances for workloads that can tolerate interruptions or for non-critical applications to save costs.

Another option is to choose an auto-scaling approach that will allow you to automatically adjust your computing based on the workload. This reduces costs by only paying for what you use and ensuring you don’t over-provision resources.

Establish Guardrails with Trusted Technologies

Guardrails are policies or rules companies can implement to optimize their Cloud computing environment. Examples of guardrails include:

• Setting cost limits and receiving alerts when you’re close to capacity
• Implementing cost allocation tags to track Cloud spend by team, project, or other criteria
• Setting up resource expirations to avoid paying for resources you’re not using
• Implementing approval workflows for new resource requests to prevent over-provisioning
• Tracking usage metrics to predict future needs

Working with solutions like AWS Control Tower or Turbot can help you set up these cost control guardrails and stick to a budget. Ask the provider what cost control options they offer, such as budgeting tools or usage tracking. From there, you can collaborate on an effective cost optimization strategy that aligns with your business goals. Your vendor may also work with you to implement these cost management strategies, as well as check in with you periodically to see what’s working and what needs to be adjusted.

Create Custom Scripting to Go Dormant When Not in Use

Similar to electronics consuming power when plugged in but not in use, your computing environment can suck up costs and resources even during downtime. One way to mitigate usage and save on costs is to create custom scripts that automatically turn off computing resources when not in use.

To start, identify which resources can be turned off (e.g., databases, storage resources). From there, you can review usage patterns and create a schedule for turning off those resources, such as after-hours or on weekends. 

Scripting languages such as Python or Bash can create scripts that will turn off these resources according to your strategy. Once implemented, test the scripts to ensure they’re correct and will produce the expected cost savings. 

Consider Funding Support Through Vendor Programs

Many vendors, including market-leader AWS, offer special programs to help new customers get acclimated to the Cloud environment. For instance, AWS Jumpstart helps customers accelerate their Cloud adoption journey by providing assistance and best practices. Workshops, quick-start help, and professional services are part of the program. They also offer funding and credits to help customers start using AWS in the form of free usage tiers, grants for nonprofit organizations, and funding for startups.

Other vendors may offer similar programs. It never hurts to ask what’s available.

Leverage Partners with Strong Vendor Relationships

Fast-tracking toward the Cloud starts with great relationships. Working with an established IT company like RCH that specializes in Biotechs and Pharmas and also has established relationships with Cloud providers, including as a Select Consulting Partner with AWS, as well as associated technologies gives you the best of both worlds. 

Let’s Build Your Optimal IT Environment Together

Cloud cost optimization strategies shouldn’t be treated as an afterthought or put off until you start growing.

It’s best practice to instill cost control guardrails now and think about how you can scale your Cloud computing in the future so that cost doesn’t become a growth inhibitor.

In an industry that moves at the speed of technology, RCH Solutions brings a wealth of specialized expertise to help you thrive. We apply our experience in working with BioPharma companies and startups to ensure your budget, computing capacity, and business goals align. 

We invite you to schedule a one-hour complimentary consultation with SA on Demand, available through the AWS Marketplace, to learn more about cost optimization strategies in the Cloud and how they support your business. Together, we can develop a Cloud computing environment that balances the best worlds of budget and breakthroughs.

Sources:

https://docs.aws.amazon.com/AWSEC2/latest/UserGuide/instance-types.html