Summary
This guide presents the FinOps framework, a cloud financial management discipline designed to help organizations optimize their cloud spending and enhance operational efficiency. It outlines the complexities and challenges associated with cloud economics, including the tendency for companies to overspend by as much as 70% on cloud services. The document defines FinOps as a collaborative practice that integrates finance, engineering, and business teams to make data-driven spending decisions. It details the core principles, phases, and domains of the FinOps framework, emphasizing the importance of collaboration, accountability, and real-time visibility in managing cloud costs. Additionally, the guide provides three tactical considerations for implementing a successful FinOps strategy, focusing on the need for advanced tooling, satisfying stakeholder needs, and leveraging AI for automation. By adopting FinOps, organizations can achieve significant cost reductions and maximize the value derived from their cloud investments.
