When you are looking for how to allocate costs and cost savings on your cloud implementation, FinOps could be the solution. FinOps or Financial Operational is a framework used to business value for cloud costs, thus enabling financial accountability resulting in timely data-driven decision making. This can happen because of the collaboration between IT, finance, and operations team so that optimal cost management are created in using cloud to effectively manage finances.
FinOps can be a solution in maximizing savings plans, cost optimization, and drives cost control which makes you have an ideal financial from the strategy implemented through FinOps. Not stopping there, FinOps implements performance metrics that are applied quantitatively so that it is clearly visible the impact of managing cost management on your cloud. That way the potential in integrating FinOps services can be utilized to the fullest but at minimum cost.
At a certain managerial level, understanding the strategies implemented in identifying cloud costs, thus creating improvements in managing cloud cost reporting and identifying decisions to be made. From this, you can make decisions to enhance the performance of cost savings strategies in your cloud.
Increased operational efficiency is also one of the impacts that will be perceived because companies can utilize FinOps to monitor and manage expenses transparently and in real-time. So the budget provided avoids potential waste. Furthermore, cost expenditure is better than before, and the process improvement has a positive impact on changing cost requirements and reducing excess operational costs.
The collaboration between OpsNow and FinOps has the necessary aspects for IT and finance teams to work together to build an optimal integration. FinOps has a supportive role for OpsNow in allocating and optimizing finances for your cloud management needs through the existence of FinOps. This makes OpsNow and FinOps foster a very good cooperation for customers in satisfying the results obtained.
The aspects provided by FinOps strongly support the principles applied in cloud management. And it is very possible to apply to their companies so that cloud usage resources can be well conveyed to get more ideal decisions for the progress of the company. Here are the best practices for integrating OpsNow and FinOps.
After Company A implemented the cloud, their usage increased which led to an ongoing cost increase. To manage these costs, they decided to implement OpsNow.
By using OpsNow, Company A achieved approximately 39% reduction in cloud costs and improved service stability, leading to increased customer satisfaction and revenue.
Company B initially using domestic cloud services but experienced frequent instability. Over approximately four months, they migrated most of their infrastructure to AWS. Due to business growth, infrastructure costs increased ninefold, leading to the need for cost management.
By using OpsNow, Company B managed to reduce about 25% of cloud costs. It also reduced the time and resources spent on resource management and cloud costs. Infrastructure management became easy to manage without any problems through OpsNow.
Customer C is a reputable fashion B2B platform company that has been consistently using OpsNow for about three years. They continue to reduce and manage costs through cost savings consulting and ongoing cost reviews.
Customer C has consistently reduced cloud costs by effectively utilizing OpsNow to manage resources and expenses in real-time. Over the past three years, they have become so familiar with OpsNow that it is hard to imagine managing cloud costs without it.
