Free Whitepaper

FinOps – An essential Addition to your Cloud Toolbox

Delve into the world of Cloud Financial Management with our comprehensive FinOps whitepaper. Unearth strategies to facilitate financial responsibility within the cloud’s pay-per-use model. Utilize FinOps best practices and galvanize your team’s engagement in a journey towards cost optimization and business value.

Language: English
Target Group: Platform Engineers & Enterprise Architects

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Cover FinOps Whitepaper: As essentiall addition to your cloud toolbox

How to bring financial accountability to cloud costs?

What are the three phases of the FinOps process?

What is the role of the Cloud Foundation team?
Cover FinOps Whitepaper: As essentiall addition to your cloud toolbox

How to Master Cloud Cost Management?

Outline

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. To implement the FinOps culture and mindset it is necessary to let go of traditional structures: Identifying and signing off costs is no longer left to a siloed procurement team.

Instead a cross-functional team (we’ll get to that in detail) adopts the FinOps practices:
Pulling together technology, business, and finance to optimize management of cloud vendors, rates, and discounts. FinOps enables all operational teams to access spending and consumption data transparently and close to real-time.

The FinOps process is split into three stages: Inform, optimize and operate. With FinOps you run through these stages repeatedly. This allows organizations to adapt quickly to new requirements.

Summary

  • FinOps is a dynamic practice that ushers financial accountability into the realm of cloud costs, presenting a clear roadmap for transparency and control.
  • Our FinOps whitepaper dissects the essence of FinOps, its merits, challenges, and the instrumental role played by the Cloud Foundation team.
  • Immerse yourself in the FinOps process, consisting of three iterative phases: Inform, Optimize, and Operate, designed for adaptability and optimal resource management.
  • The Cloud Foundation team stands at the forefront of cloud cost management. It shoulders the responsibility of implementing FinOps practices, integrating new roles such as budget assigners, forecast creators, engineers, and executives.
  • Embracing this concept necessitates a cultural shift where teams take ownership of their cloud usage, driving cost-effectiveness and maximizing business value.