FinOps Framework for Public Cloud Cost Management

This document is a guide that outlines the FinOps framework as an operational practice aimed at maximizing the business value of public cloud services. It addresses the challenges organizations face in accurately predicting cloud costs, particularly when traditional cost forecasting methods do not align with cloud workload placements. The guide emphasizes the importance of establishing processes, tools, and teams to effectively manage cloud expenses. It details how Flexential's FinOps teams provide specialized expertise to identify cost-optimization opportunities within cloud environments. The document describes the activities performed by these teams, including discovery and analysis, implementation of monitoring tools, and governance policy integration. Additionally, it presents the outcomes of adopting a FinOps practice, such as reduced cloud spending, improved cost visibility, and enhanced collaboration among finance and technical teams. The guide also mentions a 90-day cancellation option for clients who do not receive viable cost reduction recommendations.