AWS Cloud Financial Management

ICYMI: Defining account strategy, achieving consistent cost tracking, and getting even more Well-Architected

In order to take advantage of the cloud’s agility, scalability, and speed-to-innovation, it’s essential to establish cost visibility and accountability. Transparent and accurate cost attribution helps you:

  1. Reduce waste and increase cost efficiency
  2. Measure ROI and align spend with business objectives, and
  3. Provide meaningful and actionable cost insights to help make more informed decisions about where to allocate budget.

This month, we’re highlighting three AWS resources that can help you make more informed decisions, whether you’re just getting started with your cost allocation strategy, or you’d like to accelerate or expand it.

[AWS Cloud Operations & Migrations Blog]

1. Deciding between large accounts or micro accounts for distributed operations at AWS

To best support your business outcomes and achieve operational excellence, it’s important that you define your AWS account strategy at the onset of your AWS journey. There are a multitude of ways you can choose to organize your AWS accounts – by workload, team, specialization, business or functional domain, and more. This blog helps to answer a common customer question: should I deploy multiple workloads into a single AWS account, or have one workload per AWS account? It presents a decision flow to help you distinguish between centralized and decentralized operating models, and know when to create new AWS accounts or use existent ones, enabling balance between accounts creation and workload placement into existing accounts.

Check out the account strategy decision flow

[AWS Containers Blog]

2. Achieve consistent application-level tagging for cost tracking in AWS

It’s vital that organizations implement the right tools to understand their AWS footprint and associated cost, particularly as they transform their business or grow due to market demand. A large AWS footprint may include multiple AWS accounts, different infrastructure environments, and application environments for specific projects. In this post, you’ll learn how to use AWS Proton to effectively track and manage organization-wide resources and costs with both standardization and automation. Using AWS Proton’s automatic tagging feature, you can apply consistent infrastructure and application-level tags, visualize cost usage by environment application (per microservice and serverless application), and get actionable insights using tools such as AWS Cost Explorer.

🔖 Walkthrough the solution and get started

[AWS Architecture Blog]

3. Announcing updates to the AWS Well-Architected Framework

Check out the latest news on the improved AWS Well-Architected Framework content. The Framework is a collection of best practices that allow customers to evaluate and improve the design, implementation, and operations of their workloads and organizations in the cloud. This blog highlights content updates across all six pillars of the framework: Operational Excellence, Security, Reliability, Performance Efficiency, Cost Optimization, and Sustainability.

🔎 Read and stay up-to-date

Luis Abud

Luis Abud

Luis oversees the Digital Experience for AWS Billing and Cost Management services. He focuses on enabling finance and business leaders to transform their business with cost transparency, control, forecasting, and optimization. In his previous career, he helped tech and retail companies establish and enhance their digital presence in Latin America.