Why FinOps?
FinOps is a cloud cost optimization/cloud financial management methodology, aimed at companies that already work in the cloud or are transitioning to it.
The need for FinOps becomes apparent when companies embark on their cloud journeys or strive for excellence once they are already settled in using it:
- For newcomers, when the journey to the cloud begins, it becomes apparent that the well-known on-premises rules regarding cost management or capacity management don’t apply anymore. This requires a difficult adaptation as well as training. FinOps can help in this complex process, both optimizing and enabling cloud governance in many ways.
- If an organization has used the cloud for a few years already, its cloud spend will not be aligned with its initial budget for a number of reasons, such as non-optimized workloads that are migrated through lift-and-shift, constant struggles with inefficiencies, and difficulties in applying a standardized cloud governance...
