Extensions to the Azure reservation exchange policy
Microsoft have recently announced new extensions to the Azure reservation exchange policy. You will now be able to make changes to your account until the 1st July 2024.
A grace period has been put in place to give those who need to exchange Azure compute reservations (Azure Reserved Virtual Machine Instances, Azure Dedicated Host reservations, and Azure App Services reservations only) time to exchange before deprecation.
Azure reservations provide flexibility to help you meet your ideal needs, budgets, and comprehensiveness. Reservations are interchangeable with each other, which means that you can exchange several compute reservations with each other all at once.
It was previously announced that the ability to exchange Azure compute reservations would come to an end on the 1st January 2024. Now that this date has been extended to 1st July 2024, you have additional time to compile your resources and put necessary plans in place. Compute reservations bought prior to the end date will reserve the right to exchange one more time after the end of the grace period.
If you have a type of Azure reservation that isn’t Azure Reserved Virtual Machine Instances, Azure Dedicated Host reservations, or Azure App Services reservations, then this policy change doesn’t affect you.
Next steps
If you have any Azure reservation purchases that you need to exchange after the 1st July 2024, the exchange will be processed as a cancellation, refund, or new purchase. It’s important to note that if needed, you can trade in the reservation for a savings plan at any time.
Without the ability to exchange reservations, you might find your organisation with increased costs, a less efficient cloud environment, and poor resource allocation.
Introducing Azure Essentials Cost Management and Optimisation
Azure Essentials Cost Management and Optimisation is an all-in-one solution to managing your Azure estate. As changes like this occur, it’s vital to stay on top of optimising your cloud environment to improve resource allocation and reduce costs.
The Azure Essentials Cost Management and Optimisation service promotes collaboration between teams, using the combined skills to gain more financial and operational control over your environment. The service identifies any cost saving opportunities, taking changes like the grace period for reservation exchange into account.
By implementing Azure Essentials Cost Management and Optimisation, you will handle these changes with ease.
Discover more about the solutionAzure Essentials Managed Service
If you’re looking for a solution to manage the entirety of your Azure environment, ensuring costs are optimised while exploring new Azure features, Azure Essentials is for you.
Our managed services are handled in-house, providing 24×7 operations and regular reviews to ensure you’re getting the most out of your Azure environments. Our specialists will also guide you through changes made by Microsoft, enabling your team to do what they do best without worrying about keeping on top of updates and changes.
Azure Essentials Cost Management and Optimisation is included in the Azure Essentials Managed Service.
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