FinOps – Cloud Financial Management
Delivering Cloud Consumption Optimisation to Reduce Costs & Avoid Unnecessary Spend
What is FinOps?
The growth of cloud spend is set to continue, with Gartner predicting an 18% increase in 2021. As cloud adoption grows, so does your cloud consumption cost. So, how do you control, monitor and optimise your ongoing cloud costs?
This is where the practice of FinOps becomes a necessity. FinOps (Cloud Financial Management) is a growing professional discipline within large enterprises that aims to control ongoing cloud spend by working with financial, IT, and DevOps stakeholders across the business. FinOps as a practice seeks to do the following:
- Manage ongoing cloud costs by avoiding unnecessary spend through over specified resources.
- Prevent last-minute overspend through accurate forecasting and reservation of cloud requirements at an optimal price.
- Optimise ongoing costs and take advantage of cost reduction opportunities through detailed insights and data.
- Accurately allocate cloud costs across the business.
Version 1 - Cloud Consumption Optimisation Expertise
The more complex the organisation and cloud usage, the greater the need for FinOps. However, many organisations are still struggling with where to start.
The Version 1 SAM Team specialise in the ongoing optimisation of enterprise licensing and cloud consumption and can help you with the following:
- Advise and guide with creating your own internal FinOps discipline to fit into your business’s overall processes and procedures.
- Validate/verify your current FinOps practice and make appropriate recommendations.
- Outsource some or all your FinOps discipline to Version 1 whilst adhering to any specific in-house processes.
Benefits of Cloud Financial Management
Cloud Cost Optimisation
Cloud Cost Reduction
Avoid Unnecessary Spend
Accurate Cost Allocation
Accurate Spend Forecasting
Data & Insights
The Importance of FinOps for Cloud Cost Optimisation
News & Insights
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