Cloud Cost Management: Early Adoption & the Evolution of FinOps
By now, most organizations have some variety of cloud presence, particularly in recent years as cloud computing dramatically sped up what used to take longer to achieve with line-of-business and commercial off-the-shelf applications. In general, cloud computing spans across three major services:...
What is the 'lift and shift' cloud adoption methodology?
The 'lift and shift' cloud adoption methodology involves organizations replicating their on-premises environments in the cloud, essentially moving their existing servers to a cloud provider. While this approach can facilitate a quicker transition to the cloud, it often leads to over-provisioning, where resources allocated in the cloud do not match actual needs. This can result in cloud sprawl and increased costs, prompting organizations to rethink their cloud strategies.
FinOps, or Financial Operations, is an evolving discipline that focuses on cloud financial management. It encourages collaboration between engineering, finance, technology, and business teams to make data-driven spending decisions. By adopting FinOps, organizations can optimize their cloud environments and manage costs more effectively, ensuring they derive maximum business value from their cloud investments.
How can organizations improve cloud cost management?
Organizations can improve their cloud cost management by embracing a FinOps methodology and utilizing tools designed for cloud cost management. For instance, using platforms like Harness can provide visibility into cloud spending and promote shared responsibility for cloud infrastructure costs. Additionally, implementing practices such as setting workload budgets, ongoing reclamation activities, and conducting untagged asset reviews can further enhance cost management efforts.
Cloud Cost Management: Early Adoption & the Evolution of FinOps
published by ODP Business Solutions, LLC
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