Finops

Why FinOps?

FinOps brings financial accountability to the variable spend model of cloud, enabling distributed teams to make business trade-offs among speed, cost, and quality. In practice, it means establishing performance indicators for an organization’s cloud costs based on service, business unit, environment, etc., and diagnosing the organization’s consumption based on these indicators.

Top 7 FinOps Adoption Related Challenges

Here are the top 7 FinOps adoption related challenges that many encounter.

Getting Engineers to act on cost optimization

Accurate forecasting of cloud spend

Organizational adoption of FinOps

Enabling automation

Reducing waste or unused resources

Aligning finance/procurement teams with tech/eng teams

Full allocation of cloud spending

FinOps - Key Drivers

Reduce wasted cloud spend

32% of total cloud spend is wasted spend.

Cost Management across multiple clouds

89% organizations are using multiple clouds resulting in increased demand for cost optimization Initiatives.

Strong demand from end customers to optimize cloud spend

59% of organizations have cost savings - cloud spend optimization - as their top cloud initiative.

Operating Model changes arising from increased cloud spend

IT and Finance teams need to operate more efficiently together to support the agility of the business and pro-actively monitor and react to cloud spends.

FinOps - KPIs/Metrics

Forecast vs actual cloud spend variance
Forecasted vs actual cost of cloud resources
% of environment with proper tagging
% of cloud bill from untagged resources
Team-wise spend vs resource cost
% of revenue spent on cloud
Total cost of unused cloud resources
Average compute cost per hour

Cloud Visibility KPIs

Rightsizing savings percentage
Effective cost per resource
Production incidents by application/team
Reverted cloud deployments
Mean time to repair or mean time between failures
Number of security lapses in a month
Number of assets that don’t meet configuration standards

Cloud Optimization KPIs

Cost optimized over time
Cost optimized per policy over time
Time saved as a result of policies
Number of reservations automated
Time to remediate security violations
Resource based commitment discount target coverage
Service availability
Time to deployment

Cloud Governance and Automation KPI

Coforge FinOps Service Offerings

Inform Visibility & Allocation	FinOps Maturity Assessment	Cloud Health Check	FinOps Diagnostic Services
Operate Continuous Improvement & Operations	FinOps CoE	FinOps Operating Model Design	CMP tooling service native & specialized tools
Optimize Utilization	FinOps as a Service	Cloud Cost Optimization services	FinOps Practitioner Staff Aug services

Key Enablers

Coforge Cloud CoE

Coforge FinOps Practitioners

Partner tools native CSP & Niche CMP tools

Coforge FinOps solutions, utilities & accelerators

Coforge FinOps Business Model Options

Coforge to be positioned as independent FinOps consulting and tool implementation partner with capability in all native cloud cost optimization tools and leading independent CMP/FinOps tools.
Customer to be charged for consulting and tool implementation services based on the agreed engagement model T&M, fixed price, etc.
CMP/FinOps tool license cost should be borne by customer
FinOps operations post initial consulting and implementation to be managed by customer team

FinOps Consulting & Implementation Partner

Managed service option that includes Coforge consulting and implementation services + Coforge white labelled CMP platform or CMP tool of choice by customer
Customer to be charged monthly factoring the license cost of CMP platform and consumption of Coforge services cost
No upfront investment in CMP/FinOps tool license cost by customer
FinOps operations will be supported by Coforge team

FinOps as a Service

Includes Coforge consulting and implementation services + Coforge white labelled CMP platform
Customer to be charged a small percentage of the actual cloud cost savings
No Sunk cost. No upfront investment in CMP/FinOps tool license cost by customer

Gain Share Model

Coforge Assurance to Customers

FinOps is a practice that brings financial intelligence and realization of an organization’s cloud spending.

Here are some of the assured benefits for the customer.

Cloud cost savings result in better RoI from cloud investments.
Wasted cloud spend reduced up to 95%
Coforge Consulting led FinOps tool/CMP centric PoC quickly proves benefits and builds FinOps business case
Pricing Model based on reduced cloud spend
Improved FinOps operating model with better outcome

Manage, Measure, and Control Cloud Expenses Using FinOps

Why FinOps?

Top 7 FinOps Adoption Related Challenges

FinOps - Key Drivers

Key Benefits

FinOps - KPIs/Metrics

Coforge FinOps Service Offerings

Coforge FinOps Business Model Options

Coforge Assurance to Customers

Coforge FinOps Vendor Landscape

What we know

Blog | Cloud Services

Blog | Cloud Services

Blog | Cloud Services

Blog | Cloud Services

FinOps gaining momentum with accelerated Cloud Adoption across Industries

Blog | Cloud Services

Streamline Cloud Operations and FinOps for UK based Charity organization

Blog | Cloud Services

Checklist before moving to the cloud- A perspective on Cloud Cost Optimization

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