The FinOps Journey

When Do Companies Typically Start their FinOps Journey?

Companies often begin to focus on cloud cost management only when problems become unmanageable. Common triggers for addressing cloud costs include:

• Scaling or rolling out solutions that lead to unexpected cost increases.
• Rapid growth of the cloud landscape resulting in complexity.
• Incidents demanding greater transparency.

In most cases, the FinOps journey begins with an assessment and a cloud cost optimization project. Sometimes, these projects lead to the implementation of a FinOps governance organization. However, many companies revert to old habits and encounter the same issues later.

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Understanding FinOps: A Comprehensive Guide

What is FinOps?

FinOps, short for Financial Operations, is an operational framework and cultural practice designed to maximize business value by managing cloud costs. It facilitates real-time decision-making through the collaboration of engineering, finance, and business teams. FinOps enables organizations to understand their cloud costs, optimize spending, and operate efficiently.

Overview Video

Here is a very comprehesive overview Video for getting stared with FinOps by the FinOps Foundation.

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