Look Here!

We're kicking off October with two exciting new features from Octo! Designed to provide you with comprehensive insights for effective budgeting and financial planning, these enhancements will elevate your cloud cost management to a whole new level.

Get ready to transform the way you manage your cloud expenses and make informed decisions like never before!

Let’s dive into these new features!

First, we are excited to introduce version two of Octo’s Unit Cost feature! This version is integrated into the Cost Group, which is designed to provide a detailed breakdown of expenses associated with individual resources or services, referred to as units.

This feature provides increased transparency that is essential for effective budgeting and financial planning, allowing organizations to clearly visualize their cost expenditures. Making them visualize specifically to compare different metrics they are assessing among their unit items.

This improvement includes three areas:

This is an enhanced version of the previous release, featuring improved capabilities for managing your units. You can still add, edit, or delete units as you did before, but now you also have the ability to include dedicated resources. You can specifically choose the account and service you want to include when adding a new unit.

When creating a cost group, you have the option to base it on either Vendor or Unit Economics. If you choose Unit Economics, the cost group will be tailored around custom units, enabling you to analyze costs with greater detail. This approach allows for effective allocation of shared resources while ensuring that specific resources are dedicated to the unique requirements of each unit item.

When viewing your created cost group, you can easily identify the cost per unit item, providing a clear visualization of your expenses. This feature simplifies cost analysis and enhances your understanding of your spending patterns.

The Multi-Currency Display feature in Octo is a valuable new addition to your reports, enabling you to conveniently view costs in different currencies. You can easily switch currencies in your Fixed Reports, and this change will be reflected across all widgets displaying costs. This means you can effortlessly display your costs in your insights reports, switching from dollars to yen with just a click.

This feature is particularly beneficial for companies operating in multiple countries, as it allows stakeholders to review insights reports in their preferred currency, allows comprehensive financial reporting, and facilitates better analysis of cost patterns and trends.

Additionally, we've introduced a new pop-up modal that allows you to view the monthly exchange rates for the selected currency. The date you set for updating the exchange rate will determine the date that reflects the monthly exchange rate.

To access your currency settings, go to ‘Preferences’ and select ‘Currency Setting’ under ORGANIZATION SETTINGS. Here, you can specify a date for updating the exchange rate. With this configuration, Octo will automatically retrieve the exchange rate for that date each month.

We have also made some minor bug fixes and improvements to other existing features.

We will continue to improve features based on user feedback.