FinOps has become a necessity for enterprises as their cloud and container footprints have grown. But, what sets the most successful organizations apart, and, how do you benchmark your enterprise’s place along its cloud financial management journey?
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Across enterprises using Amazon Web Services, we found that best-in-class organizations:
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We have found that what sets enterprises apart in their cloud cost and financial management is a commitment to working towards:
At the highest levels, we have found these three principles—and the relative level of FinOps sophistication of enterprises exhibiting them—to be evidenced by the following symptoms:
|Area of FinOps Practice||Signs of Lower Sophistication||Signs of Higher Sophistication|
|Key Stakeholder Motivation||FinOps is not a top priority||Cloud financial management is taken seriously at senior levels|
|Incentives||No KPIs and no ties to job performance||Performance is measured and results are tied to compensation|
|Transparency & Communication||Information is not available openly||Details and progress shared openly|
|Trust & Collaboration||Cross-functional distrust, fear, or apathy||Lines of business and app stakeholders are bought into optimization changes|
|Provisions for Action||Ad-hoc or best-effort actioning of optimizations||Standard, documented processes for approvals and the actioning of optimizations|
|Automation||Automated processes do not exist or significant manual effort is required||Approvals and actioning of optimizations are a native part of organizational infrastructure management processes|
Download our eGuide now to learn more about what best-in-class organizations do to ensure not a dollar is wasted in the cloud.Download the FinOps eGuide