The article emphasizes that implementing FinOps as part of a centralized cloud cost center of excellence (CoE) can help businesses collaborate more effectively to maximize business value. A cloud cost CoE governs cloud adoption and spending throughout the organization to ensure alignment with larger cloud goals. The value of a strong cloud program, supported by cloud economics and FinOps, is highlighted as a key differentiator, enabling enterprises to make more informed decisions about their cloud programs and investments.
Key takeaways:
- Cloud economics is a discipline that brings clarity to cloud spending, encouraging business functions to look beyond optimizing costs and make decisions that will maximize the business value of the cloud.
- FinOps is a component of cloud economics that focuses on the operational aspects of cloud economics, using a three-phase iterative approach: inform, optimize, and operate to manage cloud spending effectively.
- Implementing FinOps as part of a centralized cloud cost center of excellence (CoE) can help cross-functional finance, technology, and business teams collaborate more effectively to maximize business value.
- Cloud economics and FinOps can help enterprises make more informed decisions about how they advance their cloud programs and feel more confident making bold investments that will help them stand out among the competition.