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FinOps Foundation Insights

The Evolution of FinOps: Day 1 Keynote Themes from FinOps X 2024

July 3, 2024 | Article: 6-minute read, 90-minute watch

Key Insight: The FinOps X 2024 Day 1 Keynotes covered the Evolution of FinOps to include more technology spending beyond public cloud, FinOps for AI, cost-aware product decisions, carbon-aware FinOps. Stories from Disney and Uber spoke to the constantly changing FinOps landscape, the FOCUS 1.0 GA launch landed and an executive panel of VPs from AWS, Microsoft and Google spoke together.

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Evolution of FinOps

J.R. Storment, Executive Director of the FinOps Foundation, opened with how FinOps has evolved in the last twelve months including key themes such as:

Watch at 06:00 mins the Evolution of FinOps…

Burn down the Past – Forecasting at Disney

Elly Rauch from Disney shared how FinOps practitioners transform Financial processes and forecasting to meet the demands of our ever-changing business. Hear how cost optimization and profitability goals drove Disney to adopt a culture where “everyone takes ownership for their cloud usage” … even if it meant tearing down the old ways and starting over.

Watch at 18:40 mins Elly Rauch from Disney on Burn Down the Past (Why Forecasting Became Disney’s FinOps’ Priority #1) 

Invoice Bots and Moving FinOps Beyond Public Cloud at Uber

Sarah Keller and Chavis Richardson from Uber covered from invoice management to cost attribution, how Uber leveraged automation and built up functions that looked deeper into the cloud invoice process to strategically avoid overspend on invoice errors and allocate costs into appropriate business GL line level details to support more accurate product cost representation and improved GAAP treatment.

Watch at 34:55 Sarah Keller and Chavis Richardson at Uber on FinOps Beyond Public Cloud at Uber (with Invoice Bots!)

FOCUS 1.0 GA Launch with GitLab

J.R. took the stage again to announce the 1.0 General Availability of FOCUS (FinOps Cost and Usage Specification) and what the future of FOCUS might hold now that all major cloud providers support it.

Watch at 50:12 J.R. announce that FOCUS is now 1.0 GA 

Clément Leroux from Gitlab laid out the challenges that led them to adopt FOCUS and how they using it to ingest multi-cloud cost and usage data under one unified schema.

Watch at 54:00 Clément Leroux, GitLab, Tackling Multi-cloud Environments using FOCUS 1.0  

Cloud VP Panel with AWS, Microsoft and Google

FinOps Foundation’s Governing Board chair, Jen Hayes, led a panel of VP level Product and Engineering leaders from the top 3 cloud providers (AWS, Microsoft and Google) discussing the current state of customer needs for FinOps, AI’s impact and the future path they expect the industry to go in the coming years.

Watch at 01:02:10 the Cloud VP Panel Discussion with Pravir Gupta, VP Engineering Google Cloud, Srivatsan Kidambi, VP Engineering Microsoft, James Greenfield, VP AWS Commerce Platform, moderated by Jen Hays, SVP Engineering Excellence at Fidelity

Cloud Provider Announcements (Day 2)

The next day during the Day 2 keynotes, Product leaders from each of the clouds took to the stage to announce new functionality, releases and announcements tied to delivering FinOps within an organization.

Read and watch the Cloud Provider Announcements during Day 2 of FinOps X

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