The ITAM Executive: A Podcast for IT Asset Management Professionals Cloud Cost Management: Embracing the FinOps Cycle
Mar 7, 2024
15:48
Host: Jason Kelly, Anglepoint Director of FinOps
This episode of the ITAM Executive includes content taken from our lightning course, FinOps 101 | Understanding FinOps and Cloud Cost Optimization.
In this episode, Jason Kelly, Director of FinOps at Anglepoint, introduces the concept of the FinOps Cycle, comprising the inform, optimize, and operate phases, which form a continuous iterative process. The inform phase focuses on fostering accountability through data transparency, while the optimize phase involves seizing cost-saving opportunities. The operate phase entails making informed business decisions based on the outcomes of optimization efforts, leveraging automation and advanced tools.
Jason then highlights the challenges associated with implementing FinOps within organizations. These challenges include the complexity of cloud cost management, organizational conflicts between different departments, resistance to change, difficulty in gaining executive buy-in, and the need for seamless workflow integration. Despite these hurdles, there are strategic approaches for successful FinOps deployment. Iterative adoption, quick wins, and the establishment of a Cloud Center of Excellence (CCOE) to facilitate communication and expertise sharing across departments are solutions highlighted in the episode.
By embracing the FinOps Cycle and implementing tailored strategies, organizations can overcome challenges, enhance cost transparency, and achieve greater financial accountability in their cloud operations.
By listening to this episode you’ll get:
Listen in on our latest podcasts by checking out the ITAM Executive.
Dig into more insights from ITAM executives by subscribing on Apple Podcasts, Spotify, or wherever you listen to podcasts.
This episode of the ITAM Executive includes content taken from our lightning course, FinOps 101 | Understanding FinOps and Cloud Cost Optimization.
In this episode, Jason Kelly, Director of FinOps at Anglepoint, introduces the concept of the FinOps Cycle, comprising the inform, optimize, and operate phases, which form a continuous iterative process. The inform phase focuses on fostering accountability through data transparency, while the optimize phase involves seizing cost-saving opportunities. The operate phase entails making informed business decisions based on the outcomes of optimization efforts, leveraging automation and advanced tools.
Jason then highlights the challenges associated with implementing FinOps within organizations. These challenges include the complexity of cloud cost management, organizational conflicts between different departments, resistance to change, difficulty in gaining executive buy-in, and the need for seamless workflow integration. Despite these hurdles, there are strategic approaches for successful FinOps deployment. Iterative adoption, quick wins, and the establishment of a Cloud Center of Excellence (CCOE) to facilitate communication and expertise sharing across departments are solutions highlighted in the episode.
By embracing the FinOps Cycle and implementing tailored strategies, organizations can overcome challenges, enhance cost transparency, and achieve greater financial accountability in their cloud operations.
By listening to this episode you’ll get:
- An in-depth look at each phase of the FinOps cycle (inform, optimize, operate)
- An explanation of some of the biggest challenges of implementing and/or maintaining FinOps in an organization
- Solutions to those challenges, such as utilizing cloud management platforms for cost visibility and accountability
- And more
Listen in on our latest podcasts by checking out the ITAM Executive.
Dig into more insights from ITAM executives by subscribing on Apple Podcasts, Spotify, or wherever you listen to podcasts.