Summary
This case study details how Coinbase partnered with ProsperOps to enhance its financial operations through automated rate optimization and cloud financial management. Coinbase faced challenges in managing expiring discounts and optimizing its AWS discount rates while maintaining flexibility in a volatile cryptocurrency market. The FinOps team evaluated the potential of a do-it-yourself solution but determined it would divert critical resources from strategic initiatives. By leveraging ProsperOps, Coinbase automated its management of Amazon Elastic Compute Cloud commitments, which led to an increase in Effective Savings Rate (ESR) within the first 90 days. The automation allowed the team to focus on long-term strategies, budgeting, and forecasting, rather than manual calculations and conversions. This partnership not only maximized savings but also provided the team with the time to concentrate on higher priority FinOps capabilities, ultimately enhancing the company's operational efficiency and financial resource utilization.
