Adopting Cloud Cost Management in Your Business
As the interest in large-scale cloud adoption rises, so do the questions around spend that many customers face pre-adoption.
Cloud technology platforms offer considerable business advantages through rapid deployment, computing power flexibility and an OpEx financial model, underpinning the ability for businesses to expand and grow for competitive existence.
However, as cloud adoption grows, so does cloud consumption spend and consequently the challenge of managing that spend. By its very nature cloud is easy to deploy, however, this feature may unintentionally be creating unmanaged, and/or unknown, spend and waste. Eroding the financial benefit of cloud and reducing capital necessary for the business to invest.
FinOps (Cloud Financial Management or Cloud Cost Optimisation) practice has evolved to help businesses build policies and processes to control, monitor, forecast & allocate cloud costs effectively and appropriately.
The higher the spend, the greater the need.
FinOps Foundation, November 2021
In response to this business imperative, the Version 1 SAM Team has created a new whitepaper ‘Cloud Cost Optimisation – Adopting FinOps in Your Business’ which discusses the practice of FinOps; what it is, why it is important and the benefits of this practice.
This paper is designed to offer advice and guidance if you’re looking where to start on becoming FinOps proactive. If you’re in IT, technical architecture, cloud, finance, DevOps, are someone consuming cloud services or who has an interest in FinOps; here you will find new insights that you can put into practice.
It is important to remember that FinOps only examines cloud cost and should form part of your overall SAM methodology which considers your investment in on-premises software.
Version 1’s license consultants are highly experienced in supporting enterprise customers adopt and manage cloud technologies, with the primary objective being to; reduce risk, complexity and cost of your license estate, minimise unplanned software spend, create good internal governance and management of software assets, and improve software vendor relationships.