Lonvest

DevOps

Laravel
Corezoid
Python
React JS

About project

Lonvest, a rapidly growing Investment Platform, faced escalating AWS costs and infrastructure inefficiencies. With a commitment to delivering high-quality services to their customers, we recognized the need for a strategic approach to optimize our AWS usage and infrastructure management.

Project
P2P investment platform
Project Duration
09.2023 - till now
Client’s location
Croatia/Ukraine

Business Challenges

Reduce AWS costs: Identify and implement strategies to lower monthly AWS expenses without impacting service quality.
Optimize infrastructure performance: Enhance the efficiency and reliability of our infrastructure to support scalable growth
Automate resource management: Leverage automation to manage resources more effectively, ensuring optimal performance and cost-efficiency.
Implement best practices: Adopt AWS best practices for security, compliance, and architecture.

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Solution

Our strategy focused on a comprehensive review of our AWS environment, leveraging tools and services for cost optimization, and restructuring our infrastructure for better performance and scalability.

Detailed cost analysis

We started with a thorough analysis of AWS billing and usage reports to identify high-cost resources and services. AWS Cost Explorer and AWS Budgets provided insights into our spending patterns, helping us pinpoint areas for cost reduction.

Right-sizing and reserved instances

Right-sizing: We analyzed our EC2 instances and RDS databases to identify over-provisioned resources. By right-sizing these resources to match actual usage, we significantly reduced our monthly AWS costs.
Reserved instances: For predictable workloads, we purchased Reserved Instances, achieving substantial savings over on-demand pricing.

Cleanup and decommissioning

We implemented a process to regularly review and decommission unused or idle resources, such as unattached EBS volumes and obsolete snapshots, which contributed to cost savings.

Cost allocation tags and monitoring

We implemented detailed tagging for all our resources, enabling precise tracking of costs by department, project, and environment. This facilitated more informed budgeting decisions and accountability.

Continuous monitoring and optimization

AWS Trusted Advisor and third-party tools were utilized for ongoing monitoring and recommendations on cost optimization, security, and performance.

Conclusion

Enhanced Infrastructure Efficiency
Improved performance and reliability, supporting scalable growth without proportional increases in costs.
Increased Operational Efficiency
Automation and managed services reduced the time spent on infrastructure management, allowing the team to focus on innovation.
Adoption of Best Practices
Established a culture of cost-awareness and continuous optimization, aligning with AWS best practices.

Lessons learned

Continuous review is crucial
Regularly reviewing and adjusting AWS usage and resources is essential for maintaining optimal cost and performance.
Visibility and accountability
Detailed tagging and reporting are key to understanding and managing cloud costs effectively.
Leverage AWS recommendations
AWS provides valuable tools and recommendations for optimization; taking advantage of these can lead to significant savings and improvements.

Results

Through strategic AWS cost and infrastructure optimization efforts, we significantly reduced our operating costs while enhancing the efficiency and scalability of the Investment platform. This initiative not only improved our bottom line but also reinforced our commitment to delivering exceptional value to customers. Looking ahead, our next achievement, driven by this work, will be a 300% reduction in costs on AWS, further solidifying our position as leaders in cost-effective and innovative solutions.

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