Introduction to FinOps
Introduction to FinOps
Understand the dashboards and data available in CAM based on FinOps framework.
What Is FinOps
FinOps is an evolving cloud financial management discipline and cultural practice that enables organizations to get maximum business value by helping engineering, finance, technology and business teams to collaborate on data-driven spending decisions. For more information about FinOps, please visit: What Is FinOps.
FinOps is the intersection of finance, business, and technology to drive financial accountability and create a cost-conscious culture to maximize return of IT investment.
FinOps value
- Accelerate business value realization and innovation.
- Drive financial accountability and visibility.
- Optimize cloud usage and cost efficiency.
- Enable cross-organizational trust and collaboration.
- Prevent sprawl of cloud spend.
The list below are the FinOps Capabilities by FinOps Foundation with the Cost & Asset Management (CAM) features that enable FinOps Capabilities.
Cost Allocation
Data Analysis and Showback
Managing Shared Costs
Forecasting
Workload Management & Automation
Managing Commitment Based Discounts
Resource Utilization & Efficiency
Measuring Unit Costs
Data Ingestion and Normalization
Chargeback and IT Finance Integration
Establising FinOps Culture
FinOps & Intersecting Frameworks
Cloud Policy & Governance
FinOps Education & Enablement
Establishing a FinOps Decision & Accountability Structure
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