Why invest in FinOps at all?

FinOps or Cloud Cost Management is the practice that controls the money spent on the AWS infrastructure, by making the link between all stakeholders involved: Technology & Product Teams and the Finance & Business Teams. The control comes from:

• See – getting insights in the actual AWS consumptions of the different services and mapping these services onto the business by tagging is the first and foremost step.
• Save – with these insights, the AWS infrastructure and architecture can be optimized to have the demand match the use.
• Plan – understanding the demand and the development over times, enables the organization to make long-term commitments and sign up on commitments. In return, the hyperscalers provide discounts.
• Run – Continual management to prevent cost increase and to get maximum business value from investments in AWS technology. FinOps is crucial for managing cloud costs effectively and aligning financial accountability with business goals. The assessment helps organizations understand their current FinOps maturity and provides a roadmap for improvement.

Specifics of delivery

The assessment evaluates FinOps processes of any organisation, against the criteria as defined by the FinOps foundation. The outcome is used to determine the maturity for FinOps and create an overview of the gaps and the related risks. This serves as a starting point to map out the future state and set targets for the desired maturity level. The objective of the assessment is to create awareness and prepare stakeholders for pragmatic advice on the steps to take in their FinOps maturity journey. It can be used as input for the strategical decisions and programs.

Investment in time

• 0,5 days for planning and kick-off
• 4 or 5 separate interviews, 1 to 1,5 hours each
• 0,5 days for presentation and follow-up

Roles / people to be interviewed

• FinOps specialist
• Business representative
• Finance representative
• Operations
• Procurement
• IT Executive (CIO)