As cloud adoption increases across all industries, so too does the complexity of cloud environments, making the management and optimization of cloud spend both a top challenge and priority for IT organizations. In response, the practice of FinOps has emerged to help organizations maximize the value they get from the cloud. As its popularity surges, organizations are bombarded with the messaging that they must engage in FinOps despite a lack of practice maturity. Info-Tech Research Group has identified that one of the biggest obstacles for IT leaders is empowering engineers and other cloud users to work with other organizational teams to meet this shared FinOps goal. To help IT navigate the obstacles, the leading global research and advisory firm has released its new industry blueprint Get Started With FinOps.
Whether organizations are at the beginning of the FinOps journey or on the path to maturing the practice, Info-Tech's blueprint has been created to support IT leaders and their organizations in their efforts to harness the power of FinOps regardless of maturity.
"To grow and mature an organization's FinOps practice, the challenge is breaking down silos, encouraging collaboration across business units, holding cloud users accountable for their cloud usage and spend, and understanding the shared goals of FinOps," says Natalie Sansone, PhD, research director of Infrastructure & Operations at Info-Tech Research Group. "Beyond finding ways to reduce cloud costs, FinOps is a cultural shift that enables better collaboration between distributed teams and allows them to leverage data to identify opportunities to maximize business value from cloud investments."
The firm's new resource explains that understanding the collaborative nature of financial operations and defining the required roles and tasks will assist organizations in implementing or improving FinOps. In turn, expected benefits include improved visibility and control over cloud spend, optimized resource allocation and reduced waste, enhanced transparency, improved forecasting and budgeting, and improved cost accountability across business units.