FinOps practices for cloud-native apps in multi-cloud

FinOps is a framework that’s designed to manage operational expenditures related to cloud infrastructure and computing. The goal of FinOps is to promote collaboration among engineering, finance, business, and technology teams within the organization, ensuring they achieve business value and financial responsibility for cloud services.

FinOps revolves around cross-functional teamwork, cost visibility, performance monitoring, and benchmarking, with an emphasis on resource optimization. It’s a discipline that aims to understand spending, optimize spending, and consistently evaluate cloud service performance that aligns with business objectives.

The FinOps cycle consists of three stages – inform, optimize, and operate:

• Inform: During the inform stage, organizations design cost allocation and management, establish visibility and monitoring of cloud resources, and lay the foundation for accurate benchmarking...