New Relic (NYSE: NEWR), the industry's largest and most comprehensive cloud-based observability platform built to help customers create more perfect software, announced today a new commissioned Total Economic Impact™ study conducted by Forrester Consulting finds customers leveraging the New Relic platform are able to deploy applications to the cloud 90% faster and reduce over 90% of the cost associated with deployment of applications in cloud environments. Additionally, with the New Relic Platform customers optimized their cloud instances, driving cost savings of up to 50% in cloud expenditure. The December 2019 study, The Total Economic Impact™ Of The New Relic Cloud Adoption Solution, found that a composite organization, based on multiple customers and partner interviews, reduced code development time by 30%. The study concludes that the organizations that used New Relic for cloud application migration and optimization achieved an overall 191% ROI over three years with investment payback in less than three months. Additional benefits include simplification of the tech stack performance management with robust dashboards and analytics capabilities providing visibility and context into the health of their operations.
“The Total Economic Impact™ study from Forrester further confirms New Relic’s impact on helping our customers gain the most value out of their public cloud environments. The New Relic platform helps customers gain a complete view of their entire software estate to drive efficiencies and performance of their digital business, ” said Lew Cirne, CEO and founder of New Relic.
“If you use New Relic during the migration process, expect to pay less money in your current cloud environment because you can see the workload and do appropriate sizing to make sure you land at the right size,” said a representative from a US technology consulting firm interviewed for this study.
The study found that participating customers realized over $7 million in total benefits after utilizing the New Relic platform over three years. Participants also stated the following benefits:
- Accelerated code deployment on the cloud: Deployments are now daily or several times a day instead of monthly. The deployment now takes minutes, not hours, and can be managed by a small team, often just one person. By mapping application dependencies before cloud migration, errors and outages are avoided.
- Developers can now write cloud application code better and faster: Time spent on application coding is reduced and fewer internal resources are needed for application development.
- Developers and operations teams better understand the end-users’ experience: If the cloud application was slow or not meeting user’s expectations, New Relic’s tools made troubleshooting easy by identifying the root cause of the problem.
- Mean time to resolution is reduced: Time spent debugging cloud applications is now measured in minutes vs. days or weeks before.
- The underlying public cloud application infrastructure is now rightsized: Spending on public cloud infrastructure is optimized and is now more efficient.
- Organizations realize the benefits of the public cloud sooner: Application availability, reliability, and scalability all improved in the public cloud. Data centers were closed, leading to a reduction in costs. Fewer engineers were required to support cloud applications as opposed to on-premise applications.
Forrester conducted four in-depth interviews with New Relic customers and partners who utilize New Relic across various industries. The insights gathered from these interviews were used to develop a composite organization to analyze the benefits, costs, and risks associated with implementing New Relic and quantify its total economic impact. To read the full study, please visit https://newrelic.com/tei-cas-19-gate.