Reservations or reservation-based commitments refer to a pricing model used by public cloud providers where discounted rates are offered in exchange for pre-purchasing computing resources for a specified duration.
Reserved Instances (AWS), Reserved Savings (Azure), and Committed Use Discounts (Google Cloud) offer discounted pricing tied to committing to specific instance types or resources.
Another increasingly popular reservation-based model is Savings Plans. They provide a more flexible pricing model that isn’t tied to any specified instance type or resource. Instead, with Savings Plans, customers commit to a certain amount of compute usage (in exchange for a discount) that can be applied flexibly to various types of instances or services.
HCMX helps you take full advantage of all the reservations-based pricing models described above. It analyzes your usage patterns and pulls information directly from cloud providers to deliver recommendations that will cut your cloud waste.