AWS Cloud Financial Management

Kickstart your cost optimization efforts with confidence

We often say that Cloud Financial Management is a team sport, not a solo marathon. But how can you build a “team” that understands, executes, and optimizes CFM strategies that maximize business value from the cloud? We hear this question a lot, both from customers just getting started and from those looking to advance their organization’s CFM maturity.

First off, you need a team captain—an executive sponsor—who can ensure you have access to the right resources, and a clear path to execute and resolve priority initiatives. Then, technology and finance stakeholders should establish a partnership and create a regular, two-way communication channel. This enables finance stakeholders to become more tech savvy by understanding various pricing models and basic technical optimization techniques. Conversely, technology stakeholders can become more finance savvy by participating in cloud budgeting and forecasting. This supports the establishment of an inter-organizational lexicon and working model based on trust between the cloud bill generators and the cloud bill payers.

The quickest way to accelerate your stakeholders’ optimization efforts is to establish cost visibility according to your organization’s goals. This increases ownership and accountability across their cost and usage, and supports proactive cost optimization identification and execution.

It’s important that you continue to nurture and celebrate your cost-aware culture as you grow and scale on AWS. One way to do this is through a recognition strategy that highlights optimization progress or opportunity throughout your organization. Document and understand optimization activities that have been successful, and establish and encourage cross-team communication to learn from each other, share what’s worked well, and accelerate best practice adoption.

🏁Watch the video to hear our experts answer four common customer questions related to managing and optimizing cloud costs so you can kickstart your optimization efforts with confidence.

Gena Chung

Gena Chung

Gena is a Digital Campaigns Manager for AWS Billing and Cost Management services. She focuses on helping customers understand and adopt cloud financial management solutions to harness the value of the AWS cloud, and transform their business through cost transparency, control, forecasting, and optimization.