FinOps combines best practices, a culture of efficiency, and effective systems, to produce absolute financial and operational control for cloud spend
FinOps is shorthand for Cloud Financial Management. It is the practice of bringing financial accountability to the variable spend model of the cloud, enabling distributed teams to make business trade-offs between speed, cost, and quality. FinOps broadens a company’s capacity to comprehend cloud costs and deliver complete financial and operational control for cloud spending.
At its core, FinOps is a cultural practice. It’s the most efficient way in the world for teams to manage their cloud costs, where everyone takes ownership of their cloud usage supported by a central best-practices group. Cross-functional teams work together to enable faster delivery, while at the same time gaining more financial and operational control.
Employing a FinOps framework can significantly lower cloud costs and ensure a company’s long-standing success in their industry, but the transition process can be lengthy and complicated, particularly for companies new to navigating business on the cloud. CloudWerx is here to help.
As part of our Cloud Cost Optimization process, we walk hand in hand with your internal stakeholders to set up a FinOps Practice within your organization. Each business’ needs are unique which is why the work performed in our Assess, Identify and Remediate phases provide the exact insight and visibility necessary to customize the right FinOps governance framework for you.
PROCESS
Inform: Understand costs, set benchmarks, and establish budgets & tracking
Optimize: Rightsize under/over-utilized resources set an RI buying process and obtain best pricing
Operate: Finance and IT move together, to continuously improve for efficiency & innovation
KEY DELIVERABLES
FinOps Gap Analysis
Governance Framework
Tagging Strategy & Remediation Plan
CloudWerx can help you successfully manage your FinOps transition with the right mindset, qualified personnel, and the latest optimization tools. Beginning with our Cost Optimization Assessment we can get your company on the path to huge savings and industry longevity.
Reach out today to Book a Cost Optimization Assessment and find out more about our FinOps services.