FinOps
Adding Accountability to Cloud Support.
WHAT IS FinOps?
- A management discipline of bringing together technology, lines of business, finance to master the unit economics of cloud, and the ability to manage the cloud vendors and implement rate and discount optimizations
- Increases an organization’s ability to understand cloud costs and make trade-offs
- Provides product teams data that enable them to have some control over their spend and make data-based decisions that ultimately impact the cloud bill
- Increases the value for the cloud by providing all stakeholders a shared set of processes
Inform:
Is about ensuring all stakeholders have the information they need. This starts with allocating all cost and transforming it into the metrics and dimensions that make sense to the business.
Optimize:
Is about reducing cloud costs. This can be done with either financial levers or by enabling engineering to architect more cost-effective infrastructure.
Operate:
Is about the processes that support these practices and help scale the effort.
FinOps CHECKLIST
Collaborate with teams
Identify business value cloud drivers
Establish accountability framework
Facilitate accessible and timely FinOps reports
Establish FinOps Center of Excellence
Take advantage of the variable cost model of cloud