Serverless Enterprise Logging issues

While developing and deploying Function as a service(Faas) applications leveraging AWS Lambda ,API Gateways etc. Serverless frameworks promised to keep development and deployments simple and enabling public cloud of choice.

Serverless Enterprise/Pro Edition which offers monitoring,alerts etc to serverless applications resulted in huge logging for each function invocations e.g.

SERVERLESS_ENTERPRISE 
{
    "type": "transaction",
    "origin": "sls-agent",
    "payload": {
        "duration": 576.2143135070801,
        "endTime": "2020-02-15T05:18:46.646536Z",
        "logs": {},
        "operationName": "s-transaction-function",
        "schemaType": "s-span",
        "schemaVersion": "0.0",
        "spanContext": {
            "spanId": "1c28085b-efd5-4591-865a-e38ef0bda0e7",
            "traceId": "0874e9f5-ed95-4e3c-aa37-d16a54f3602c",
            "xTraceId": "Root=1-5e477f35-53f776209c7518c6e40ea991;Parent=5412c6a632e94e9d;Sampled=0"
        },
        .... tens of such lines for each function invocation

There are no documented ways to disable serverless enterprise logging and reporting, A simple Programming mistake which triggered hundreds of function calls to Lambda resulted in >80 GB Cloud watch logs, and more than 2GB data transfer out to serverless.com, which exceeded AWS budgets by many folds.

Steps to Control serverless logging and bill shocks in AWS :

1. Simple step to disable serverless enterprise logging is - logout from serverless using cli sls logout and comment app and org labels in servererless.yml
2. Disable unwanted logging/warnings generated by functions, Serverless Enterprise framework with Python3.8 caused multiple warnings, migrating it back to python3.6 resolved it and saved logging.
3. Implement Guard Rails for number of AWS lambda invocations using ReservedConcurrency to reasonable limits (default account concurrency limit which allows upto 1000 lamnba functions to run in parallel)
4. Implement Rate limiter for AWS API gateway end points to be within reasonable/expected limits.