FinOps is another one of those evolving IT trends that is increasingly scanning across the ITAM manager’s radar – in fact we ran a session on it at our recent Wisdom North America 2022 event because of this.
Successfully bridging the gap between ITAM & FinOps will be a huge boost to the ITAM cause within any organisation, and bring about demonstrable business benefits too. In order to help ITAM managers better understand and navigate FinOps, we have created this short guide for our readers. It is totally free to download.
Simply click the link below to access the report.
According to the FinOps Foundation Technical Advisory Council, “FinOps is an evolving cloud financial management discipline and cultural practice that enables organizations to get maximum business value by helping engineering, finance, technology and business teams to collaborate on data-driven spending decisions”
The term itself is a portmanteau of “Finance” and “DevOps” – reflecting its origins in, and many of the same principles as, DevOps, including:
- Shared ownership
- Cultural change
- Rapid feedback
Other terms used synonymously with FinOps include:
- Cloud Cost Management
- Cloud Financial Management
- Cloud Cost Economics
FinOps exists to better manage the new challenges presented by cloud technologies including the much faster adoption of new technologies and much more rapid billing cycles while also recognising the critical role cloud plays in the growth and development of many organisations. One key realisation is that FinOps isn’t focused on reducing the cloud bill but rather optimising the cloud bill. Cloud spend increasing every month can be a positive thing – if it provides equal or greater benefit to the business through enabling a new revenue stream or improving customer experience for example.
This FinOps Guide for ITAM Managers covers the following key areas.
- What is FinOps?
- Principles of FinOps
- ITAM + FinOps including BYOL, contract negotiation and SaaS
- Next steps for ITAM managers
About Rich Gibbons
A Northerner renowned for his shirts, Rich is a big Hip-Hop head, and loves travel, football in general (specifically MUFC), baseball, Marvel, and reading as many books as possible. Finding ways to combine all of these with ITAM & software licensing is always fun!
Connect with Rich on Twitter or LinkedIn.