The Linux Foundation hosts the FinOps Foundation (alongside organizations like Cloud Native Computing Foundation) to advance the discipline of FinOps and cloud financial management through best practices, education and standards. The FinOps Foundation includes 1,500+ individual members, representing more than 500 companies with over a $1bn in revenue.
What does the FinOps Foundation offer?
Grounded in real world stories, expertise and inspiration for and by FinOps practitioners, the FinOps Foundation is focused on codifying and promoting cloud financial management best practices and standards to help the community members and their teams become better at cloud financial management.
What is FinOps?
FinOps is the operating model for the cloud, which is resulting in a shift that combines systems, best practices and culture to increase an organization’s ability to understand cloud costs and make informed business decisions. FinOps increases the business value of cloud by bringing together technology, business and finance professionals with a new set of practices and standards around cloud financial management.
Why are we a part of the Linux Foundation?
As part of the LF, FinOps has access to a large scale open source non-profit engine. The LF has over 200 employees and large scale training, marketing and events teams. Its work today extends far beyond Linux, fostering innovation in every layer of the software stack. The Linux Foundation hosts projects spanning enterprise IT, embedded systems, consumer electronics, cloud, networking, and more. A few of these high-velocity projects that are helping redefine what’s possible include Hyperledger for cross-industry blockchain technologies; Automotive Grade Linux, the open software platform for automotive applications; the Open Network Automation Platform project (ONAP) for real-time, policy-driven software automation of virtual network functions; and Kubernetes, the Cloud Native Computing Foundation project for production-grade container orchestration.
What does this mean for the cloud financial management space?
By increasing awareness and education of FinOps, the Foundation’s efforts will help to grow this space and the opportunities for everyone. The focus of our work is on the practitioner, educating and empowering them to make a difference in their organizations and in their own careers. Similar to previously nascent but burgeoning dispines like DevOps, when you empower the individual, the entire ecosystem benefits. We are solving the challenges of cloud financial management together, as a community, and there are opportunities for all contributors to this space to participate and grow.
What will the FinOps Foundation do?
The FinOps Foundation and community will work together to define cloud financial management education, standards and advance the ubiquity of this discipline across industries. The organization will support the professionals leading this work by providing development, training, events and certification programs.
How is the FinOps Foundation structured?
The FinOps Foundation includes a Governing Board and Technical Advisory Board, as well as a variety of committees such as education. It will operate like other Linux Foundation initiatives with open governance.
Former Structure of the FinOps Foundation
Prior to becoming a part of the Linux Foundation in June 2020, the FinOps Foundation (F2) was a standalone non-profit trade association seeking 501 C (6) designation from the IRS as a tax-exempt trade association. It had a board of directors and classes of members: practitioner members, charter members, consulting partners, and cloud service provider members.
History of the FinOps Foundation
The FinOps Foundation was born out of Cloudability’s quarterly Customer Advisory Board meetings where many cloud practitioners expressed the need for a community of practitioners to discuss best practices beyond vendor tooling. Very few people know how to implement FinOps in an organization, and there’s not yet a commonly agreed set of published principals. So, in February 2019, it helped to found the FinOps Foundation (F2) with assistance in assisting initial underwriting legal and administrative support.
FinOps is now made up of thousands of independent industry experts from companies as diverse as Nationwide, Spotify, Nike, MIT, Atlassian, HERE Technologies, Australia Post, Thermo Fisher Scientific, Just Eat, Pearson, Sainsbury’s, Middle East Broadcasting Company, Tabcorp, Autodesk, Neustar, with dozens more joining each week.