How to cut Cloud bill by 50%?
How to make use of Cloud provider discounts?
How to scale down dev/test environment for the night?
4 Pillars of Cloud Cost Optimization
Ever heard about FinOps?
CHECK OUT THE BASICS 👇
What is FinOps?
FinOps is shorthand for Cloud Financial Operations or Cloud Financial Management or simply Cloud Cost Management. It is the practice of bringing financial accountability to the variable spend model of Cloud, enabling distributed teams to make business trade-offs between speed, cost, and quality.
Cross-functional teams in IT, Finance, Product, etc work together to enable faster product delivery, while at the same time gaining more financial control and predictability.
What makes costs transparent in Cloud?
The true key to understanding total cloud cost of ownership is built upon Transparency and Accuracy.
In order to add Transparency it is recommended:
- To segment and allocate costs to each business department; the team; or the project. The majority of cloud costs can be categorised and directly allocated to an organisational unit.
- Shared cloud costs should be identified upfront as part of system design. Shared costs can be split using an appropriate distribution model(s) (proportional, fixed, even-split) across the entirety of the organisation.
- For shared platforms and accounts leverage a label (tag) strategy for cost allocation. Allocate cluster costs in proportion of each cost centre label’s usage.