What is FinOps, and why do we need another buzzword?

Let’s start by asking the question, what is this new methodology that everyone is talking about and, suddenly, all companies are in need of? It’s a new groundbreaking practice, or way of doing things, that everyone claims will allow you to take control of your cloud costs and revolutionize how we work with cloud resources!

We are, of course, referring to FinOps. Let’s take a look at how it is defined by the FinOps Foundation:

“FinOps is an evolving cloud financial management discipline and cultural practice that enables organizations to get maximum business value by helping engineering, finance, technology, and business teams to collaborate on data-driven spending decisions.”

This is an amazing definition, but we will also provide our own interpretation of the topic. For us, FinOps is about the following things:

• First, very much like DevOps, it is about teams working together to...