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Spandana Nakka, founder & CEO, Pump (Photo courtesy Pump)
Opinions expressed by Digital Journal contributors are their own.
Amazon, once a mere convenience for so many, has become increasingly essential as the world changes. Nowhere is this better presented than in Amazon Web Services (AWS), the cloud storage service that has become the backbone for virtual offices and technology businesses worldwide. Startups and small businesses have just as much need for AWS as their larger competitors, but the fees incurred can be challenging. It’s a challenge that Pump and its founder, CEO Spandana Nakka, have set out to solve.
The increasing expenses of AWS place an undue burden on most small businesses. These businesses must either substantially divert a budget that could otherwise be used to grow their company or risk making wishful projections on year-to-year spending. Pump incorporates many such businesses and startups into a collective. It allows them to access the kinds of billing discounts usually reserved for much larger businesses. With Pump, the economy of scale can finally serve businesses that are smaller, younger, or just getting their feet beneath them.
Spandana Nakka is uniquely qualified to build and lead such a platform. Having proved herself a fintech innovator as the CEO of Sleek, which developed APIs for surge pricing and data collection, Nakka is using these perfected skills to move forward into a new fintech age. Pump uses groundbreaking AI technology to identify cost savings opportunities swiftly and effectively.
This approach is unique to Pump and makes it the most forward-thinking leader in cloud service cost solutions. “What we are doing at Pump is novel, both by virtue of how simple it is for a customer to deploy, but also because technology has the benefit of letting us do things like shift commitments across different users based on real-time demand, which would be impossible with a manual approach,” Pump says.
The AI algorithm running in the background is the most efficient cost-saving agent a small business could ask for. It also comes with the two best benefits of AI technology: inexpensive and easy to use. “Our approach requires no engineering effort by the end customer and comes at no cost to them.” Pump even recently introduced a new AI asset, PumpGPT, an always-on AI assistant meant to replace the premium subscription to AWS support services that so many businesses rely on.
By instantly acting on savings plans in a way that human operators cannot, Pump’s algorithm cuts costs like no other platform can. “We have saved as much as 60% for many customers consistently month over month,” Pump says, “So this is not an empty claim.”
Because Pump operates as a collective of users taking advantage of group-buying discounts, its power to save money for its users increases as more users join. “Pump has been growing revenue and customers aggressively,” says Pump. This makes them more effective each day, though it never costs their users anything. “We are absolutely free of cost to the end user,” they explain. Every cent of Pump’s revenue comes from the cloud provider, not from the user, so companies that join the collective can only benefit.
Saving company revenue at no cost is a big claim, but Pump takes the time to do the math for any user before they sign on. Pump is confident in its offer, it knows how to deliver on it, and the collective is already backed by hundreds of companies saving significantly on cloud service expenses.
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