FinOps
What is FinOps?

FinOps (Financial Operations) is a methodology designed to help organizations gain visibility, control, and efficiency over their IT spending. FinOps is a cultural and operational practice that brings together finance, technology, and business teams to manage and optimize cloud spending.  

FinOps consists of a set of procedures, tools, and best practices that help enterprises to better understand and control their cloud expenses.

It aims to enhance financial accountability and transparency, enabling organizations to get maximum value from their cloud investments through continuous collaboration, real-time data visibility, and cost optimization strategies.

Organization CTO discussing the FinOps in virtual meeting.
  • Why are FinOps important?
  • What are the benefits of FinOps?
  • What are the key principles of FinOps?
  • What are the FinOps lifecycle phases in cloud financial management?
  • What are the core components of FinOps?
  • What are the challenges in FinOps framework adoption?
  • What are the strategies for adoption of FinOps in hybrid and multicloud IT environments?
  • How can HPE transform FinOps?
Why are FinOps important?

Why are FinOps important?

  • Cost management and financial accountability: FinOps controls cloud expenditure, prevents budget overruns, and promotes team accountability for cloud usage and expenses.
  • Optimization of cloud resources: FinOps helps firms reduce waste, improve resource allocation, and make cost-effective cloud efficiency decisions.
  • Facilitated collaboration: FinOps fosters finance, operations, and engineering collaboration for better cloud management and decision-making.
  • Real-time visibility and agility: With real-time insights into cloud consumption, FinOps enables enterprises to react rapidly, align spending with business objectives, and respond to market developments.
  • Strategic planning and forecasting: FinOps helps firms’ budget and plan for future cloud investments, improving forecasting and cost management.
  • Compliance and governance: FinOps reduces compliance risks and maintains cloud expenditure governance by following policies and regulations.

Related topics

Cloud cost management

Cloud bursting

Private cloud