FINOPS | 5 MIN READ

FinOps Unchained

Imagine the financial prowess of Walmart, CapitalOne, and Disney – three giants in their industries – harnessing the power of FinOps as a strategic tool to optimize their substantial cloud expenditures. Their commitment to FinOps underscores the critical role of FinOps in managing extensive cloud investments.

The State of FinOps 2024 Report highlights a seismic shift in the cloud industry with a surge in FinOps (portmanteau of Finance and DevOps) adoption driven by the imperative to optimize spending and improve financial accountability. As organizations scale their cloud usage, the complexity and costs of managing these resources have skyrocketed. The FinOps Foundation Insights for 2024, further reveal that reducing waste has become the top priority for practitioners across all spending tiers, signaling a decisive move towards maximizing cost efficiency.

Challenges Faced by Big Spenders

For industry giants like Walmart, CapitalOne, and Disney, achieving full allocation of their cloud spend within the FinOps framework remains a formidable challenge. The crux lies in achieving comprehensive real-time resource tagging, crucial for accurate FinOps-driven cost allocation. This task is compounded when attributing costs to specific departments, projects, or services, especially with shared or legacy resources.

Navigating FinOps Models: Meet the Modern Solution

In navigating the diverse landscape of FinOps models, organizations face a spectrum of choices, each with its own merits and challenges. From the labor-intensive DIY approach cautioned against by Forrester’s Tracy Woo due to its demands in person-hours and expertise, to vendor-led solutions highlighted by Gartner for their emphasis on tool capabilities over best practices, the range of options reflects the complexity of cloud financial management. Moreover, CIO underscores the potential savings—averaging 20% in cloud spend—through partnerships with FinOps software or service providers, as demonstrated by Foundry’s study.

The Cloudsaver Platform: Pioneering FinOps Excellence

In this array of alternatives, the Cloudsaver Platform stands out as the best choice for organizations seeking a modern solution to their FinOps challenges. With its unmatched capabilities in daily showback reconciliation supported by 100% cost allocation, AI-driven cost forecasting featuring multiple algorithms for unprecedented accuracy, and invoice management, Cloudsaver not only streamlines but also elevates the precision and transparency of cloud financial management. The Cloudsaver Platform is the only tool that offers comprehensive real-time resource tagging, essential for accurate FinOps-driven cost allocation By automating critical processes, Cloudsaver enables organizations to focus resources on strategic initiatives, driving efficiency and maximizing the value of their cloud investments.

Conclusion

As FinOps continues to play a pivotal role in managing cloud costs, the demand for effective and scalable solutions grows more pressing. The Cloudsaver Platform not only meets but exceeds these expectations, addressing the core priorities and challenges faced by FinOps practitioners. With its comprehensive invoice management, precise cost forecasting, and seamless cost allocation capabilities, Cloudsaver empowers organizations to optimize cloud spending, eliminate waste, and maximize the value derived from their cloud investments. In a landscape where up to one-third of cloud spending can go to waste, adopting an advanced FinOps solution like that found in the Cloudsaver Platform isn’t just advantageous—it’s indispensable for achieving financial and operational success.

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About the Author

Frank York
Senior Content Writer, CloudSaver

FEATURE	BENEFIT
Tag Automation & Batch Tag Processing	Employ powerful automation to quickly and accurately tag cloud resources minimizing manual tasks and saving valuable time and effort. Reduce security vulnerabilities and human errors with accurate and swift tagging.
Real-time, Native Cloud Sync	Tag changes are reflected in real-time in native cloud service provider environments. Data is timely and accurate and can be leveraged with additional CloudSaver and third-party tools.
Tag Explorer Query Engine	Utilize our patented filtering and search technology for rapid and efficient location of client data across resources, zones, accounts, and service providers. This capability drastically reduces mean-time-to-resolution by quickly identifying key cloud data. Its deep dive, robust exploration enables you to “find anything.”
Tag Intelligence Dashboards & Tools	Benefit from a guided tag health experience that automatically delivers valuable insights without the need for customized reports or dashboards. These insights cover both your entire tag environment and also specific categories.
Customizable Dashboards	Create customized dashboards to display data according to your specific needs, offering real-time visibility into cloud resources, tags and spend. Obtain timely, accurate, and relevant data for insightful analysis and to identify tagging gaps.
Efficient Tag Remediation	Benefit from suggested, spell-checked tag keys and values – detect and batch merge tag variations.
Legacy Tagging Solutions	Retroactively tag or modify tags on existing legacy resources during cloud migration, either individually or in bulk and eliminate time-consuming manual efforts for smooth integration into your cloud environment.
Multi-Tenant & Multi-Cloud	Manage every cloud data set from a single screen across resources, zones, accounts, and cloud service providers (AWS and Azure).
Tag Policy Compliance Monitoring	Ingest tag policies from native cloud environments to ensure consistent tag syntax and taxonomy.
User Role & Permission Console	Enhance security with Identity and Access Management features contained in the permissions assigned through tagging.
Configuration Management Database (CMDB) Integration	The CloudSaver platform seamlessly incorporates CMDB data related to known cloud infrastructure, offering precise control, efficient tagging, and enhanced visibility by viewing, filtering, and sorting cloud resources based on CMDB data.