Read the 2021 State of FinOps Report

State of FinOps Survey Shows Rise in Cloud Financial Management

J.R. Storment
J.R. Storment in Data & Reporting
3rd February 2021

Today we launched the first version of our survey report! Below is a copy of the press release. Head on over to data.finops.org to see the results.

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Big growth is ahead for FinOps, the field of cloud financial management, as more companies accelerate their cloud plans, especially amid COVID-19, and struggle to contain and optimize cloud spend, new research indicates.

The FinOps Foundation, a non-profit trade association focused on codifying and promoting cloud financial management best practices and standards, recently surveyed over 800  FinOps practitioners from around the world with a collective $30+ billion in annual cloud spend. Almost half of the survey respondents were from companies with 10,000 or more employees, indicating that large companies are driving FinOps adoption. 

The survey underscores that FinOps is experiencing big growth but that there is much work ahead. Key survey findings include:

FinOps is clearly an area more companies will invest in. The survey respondents predicted an over 40% growth in FinOps team size in the next 12 months. 

By learning more about the challenges and opportunities facing FInOps practitioners, the Foundation, which just added Google Cloud as a Premier Member, can better create educational and informative content to help the community.

“The survey underscores that the challenges faced by large companies—cost, complexity of billing data, the changing nature of the cloud—are surprisingly similar to those faced by small companies,” Storment notes. “This supports the notion that developing FinOps best practices early on will pay huge dividends as cloud use and costs grow. The FinOps Foundation is perfectly positioned to help enable these best practices with our work in such areas as frameworks, benchmarking data, and certifications.” 

For more survey insights, including around such topics of top challenges, team structure, capabilities, KPIs, and primary needs, access the report at data.finops.org.