We are excited to announce the General Availability (GA) of New Relic Compute Budgets, a new feature empowering administrators with proactive cost management capabilities. You can now set granular monthly budgets, monitor usage against those budgets in real-time, and receive timely notifications.
This update allows you to monitor your observability spend effectively, ensure cost predictability and stay aligned with your financial goals. It also reduces your administrative overhead and enhances cost-effectiveness by eliminating manual budget tracking efforts.
Key Features
- Default Organization Budget: Start with an automatic Organization budget, set to your contract value and editable by your Organization Manager as needed
- Flexible Budget Creation: Set custom monthly budgets for your accounts. Whether it's for a single account or grouped accounts, customize budget limits based on specific compute usage.
- Real-Time Budget Monitoring: Track actual usage against your set budgets in real-time, without impacting billable usage
- Proactive Notifications: Define usage thresholds at which you wish to receive notifications and get notified via Email or Webhooks based on actual usage to ensure you stay ahead of your spending limits
Empower your engineering teams to leverage observability tools effectively while maintaining financial predictability!
Learn more in our blog posts and documentation: