Introduction to Cloud FinOps - Cloud Financial Management Basics Explained 2021

I explain everything you need to know about Cloud FinOps. Specifically, you’ll learn about the six FinOps Principles:
1. Teams need to collaborate
2. Business value of cloud drives decisions
3. Everyone takes ownership for their cloud usage
4. FinOps reports should be accessible and timely
5. A centralized team drives FinOps, and
6. Take advantage of the variable cost model of the cloud..

More than ever, today’s companies in every industry deliver value to their customers with technology. DevOps has allowed companies to accelerate technology delivery to meet customer demand using cloud. But this shift has put purchasing power in the hands of developers - in ways that have broken traditional procurement.
A new operating model is needed to allow collaborative decision making in the era of DevOps and Cloud - to maximize the value of each company’s cloud investment.

What was Fixed Costs in the past is now changing to Variable Costs. More companies are becoming technology companies. Think not just of Ebay or Amazon. Think of companies like Nike and Nationwide Insurance. Every company is a technology company in addition to its core industry. DevOps allowed IT to manage at the speed of the business with rapid - incremental development cycles

FinOps brings financial accountability to the variable cloud spend with a prescriptive model of actions, best practices and culture, that enables distributed product, finance, and business teams, and teaches us how to make decisions that increase business value.

The FinOps Lifecycle has many conceptual similarities to other methodologies that will be discussed - or are actually being used with customers. The most commonly encountered will be DevOps, Agile, and perhaps other concepts such as CI/CD Pipelines. It will be important for conversations with cloud stakeholders to understand enough about these complementary methodologies and how they relate to FinOps.

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Thank You!

[sarahward]

Oh, thanks for the detailed explanation!

[georgeblevins]

Hi, what are the primary roles (job titles) that are tasked with FinOps in a large organization?

[simialfred]

im interested in this course where can i learn this please?

[xxKidxx]

Where does a business analyst fit in all of this