Define strategies to assign and share cloud costs using accounts, tags, labels, and other metadata, creating accountability among teams and projects within an organization.
Anomaly Management gives a FinOps team the ability to detect, identify, clarify, alert on, and manage unexpected cloud cost events in a timely manner, in order to minimize impact to the business.
With the introduction of FinOps and broader use of cloud, engineering and product teams not only have the responsibility to choose services that meet the operational requirements of their systems, but also the sustainability and financial viability of those systems.
Benchmarking allows organizations to compare unit metrics and KPIs for important aspects of cloud value and optimization both internally between different teams, and externally with other organizations using cloud in similar ways.
Strategic and ongoing process for setting limits, monitoring, and managing cloud spending, aligned with business objectives, to ensure accountability and predictable financial outcomes for cloud-based systems.
Cloud Sustainability defines how the organization will make decisions about using cloud in ways that consider both its impact on the environment and the organization’s broader sustainability goals.
Data Ingestion involves gathering, transferring, processing, transforming, and correlating various datasets to create a queryable, contextualized repository, at the appropriate level of granularity, accessibility, and completeness to support activities in all of the FinOps Capabilities across all FinOps Personas.
Assessment of the FinOps practice allows a FinOps team to measure its own effectiveness, map its activities against the goals of the organization, and identify areas where it will be valuable to mature those activities.
FinOps Education & Enablement allows everyone participating in a FinOps practice to develop a common understanding of FinOps concepts, terminology, and practice.
FinOps Practice Operations encompasses the set of activities required to build and operate a FinOps practice within an organization.
A FinOps Tool refers to any of the cloud provider or third party software packages that support any of the FinOps capabilities. A FinOps Service refers to a third-party service to deliver outcomes related to the FinOps capabilities.
Creating a model of the anticipated future cost and value of cloud systems leveraging statistical methods, historical spend patterns, planned changes, and related metrics.
Coordinating activities with interconnected disciplines or Allied Persona teams that collaborate with FinOps teams.
Managing cloud invoices and creating official chargebacks to the organization’s Finance systems are important – and specific – processes that must be established as official interactions between the FinOps practice and Finance & Accounting personas.
Understanding and optimizing the impact of software licenses and SaaS investments on an organization’s cloud value structure and value.
Orchestrating the migration of systems into, or between, cloud environments in a way that provides transparency to cost, usage, and impact; supports operational objectives; and establishes or maintains cost effectiveness.
Estimation and exploration of potential cost and value of workloads if implemented in an organization’s cloud environment in a particular model or models.
Establishing and evolving policies, controls and governance mechanisms to ensure that cloud and technology use aligns with business objectives, complies with regulatory requirements, and optimizes resources efficiently.
Rate Optimization is the Capability that helps you to lower the rate you pay for resources you use in the cloud.
Examine and showback cloud data to gain insights into usage & spend patterns to identify cost optimization opportunities, improve cost efficiency, and make informed financial decisions regarding cloud resources.
Develop and track metrics that provide an understanding of how an organization's cloud use and cloud management practices impact the value of the organization's products, services, or activities.
Analyze and optimize cloud resources to match specific usage patterns while ensuring that workloads operate efficiently and generate sufficient business value for their cost.
