FinOps, the financial operating model for public Cloud consumption, shares a common goal with TBM of defining IT through impact rather than spend.
Systems best practices
Optimizing Cloud costs and usage.
FinOps was born for the Cloud. Systems, best practices, and culture increase an organization’s ability to understand Cloud costs and make informed and rapid trade-off decisions. FinOps focuses on optimizing Cloud costs and usage by technical and organizational means.
FinOps puts cloud cost responsibility in the hands of Cloud practitioners. Senior leadership has a say on what to work on, but not how. Application owners, particularly Cloud practitioners, are better stewards of resources when they have visibility and agency to manage their Cloud costs. FinOps gives the organization the ability to develop responsible Cloud users.
Senior leadership sets the strategic direction but gets out of the way regarding tactics (e.g., the budget is X; the costs to deliver the application can be no more than Y per unit). Cloud practitioners provision and optimize Cloud resources to meet that guidance and keep stakeholders informed and primed for rapid change, creating a flexible, fast, and efficient organization.
At It’s Value we can support you with the implementation of FinOps practices in your organization for better management of Cloud consumption. And we can help you to build the bridge between FinOps and Technology Business Management for managing the business of IT, on-premise, in the Cloud and hybrid.
Contact us for more information.
Or check the pdf download ‘TBM and FinOps: How They Work Together’