In today's rapidly evolving IT landscape, the shift to cloud computing has transformed how organizations manage their technology investments.
Blog - November 2024: As cloud spending rises, understanding FinOps is crucial. So, how can organizations evolve from ITAM practices to FinOps maturity?
Since the start of our organization, we have partnered with our customers to optimize their IT asset management (ITAM), helping them gain control and visibility over their traditional infrastructure. Now, as your business embraces cloud technologies, our FinOps Assessment is a natural evolution in our commitment to maximizing your technology investments.
The transition from ITAM to FinOps
Just as ITAM brought structure and efficiency to managing physical and software assets, FinOps brings financial accountability to the variable spend model of cloud computing. Our Cloud services bridge this gap, leveraging our deep expertise in technology asset- and Cloud management to help you navigate the complexities of (A) cloud financial operations and (B) supporting your DevOps team in balancing your Cloud recources in accordance to the demand of your Cloud environment(s). Independent if this is an AWS, Microsoft Azure or Google Cloud environment.
The cloud financial maturity landscape
Having conducted several FinOps assessments this year across diverse organizations, we have gained valuable insights into the cloud financial maturity landscape. Our data shows that most organizations in the UKI and Benelux regions are currently in the early stages of their FinOps journey – what are classified as the 'crawl' or beginning of the 'walk' phases of maturity in the FinOps framework. This aligns with the broader industry trend as businesses work to establish their cloud financial management practices.
What do we offer?
Our comprehensive FinOps service consists of two distinct but complementary assessments.
- The Process FinOps Assessment
The process FinOps assessment requires just 1.5 days of your organization's time, delivering maximum value with minimal disruption to your operations. The core of this assessment is an intensive day-long session where we evaluate all 22 capabilities of the FinOps 2024 framework through approximately 100 targeted questions. We engage with stakeholders across your organization – from FinOps practitioners and procurement specialists to finance teams, product owners, and C-level management – ensuring we capture a complete picture of your cloud financial operations. The remaining time is dedicated to presenting our detailed findings, complete with actionable improvements and concrete deliverables designed to advance your organization's FinOps maturity. - The Technical FinOps Assessment
In addition to the process assessment, we offer a technical FinOps assessment that focuses on immediate cost optimization opportunities. This assessment involves a detailed analysis of your hyperscaler(s) invoices and cloud resource usage patterns. Our experts identify concrete savings opportunities through optimal use of reserved instances, savings plans, and other cost-reduction mechanisms. This technical assessment complements the process assessment by providing immediate financial benefits while you build your long-term FinOps capabilities.
What sets our assessment apart is our ability to benchmark your organization's FinOps maturity against your peers in the Northern Europe regions. This comparative analysis provides you with valuable context about where you stand in your cloud financial journey and helps identify specific areas where you can accelerate your maturity.
The importance of FinOps in a cloud-centric landscape
As cloud costs continue to grow and optimization becomes increasingly critical, understanding and improving your FinOps practices isn't just beneficial. It is essential for maintaining competitive advantage. Our two assessment provides you with clear insights into your current state and, more importantly, a structured roadmap for improvement. Building on our proven ITAM assessment methodology and deep understanding of cloud financial management, we are uniquely positioned to help you accelerate your FinOps journey.
Get started with your FinOps assessment
Ready to gain deeper insights into your cloud financial operations? Contact your account manager to schedule your FinOps assessment, or reach out to us for more information. Take the first step toward optimizing your cloud investments and join the ranks of organizations that are transforming cloud cost management into a strategic advantage.