Across industries, cloud continues to be one of the fastest-growing segments of IT spend. In fact, according to the latest forecast from Gartner, worldwide public cloud end-user spending is expected to reach nearly $500 billion in 2022 – 20% more than the previous year. But without a clear and actionable plan for cloud cost management, many organizations are overspending by as much as 70%. Organizations are embracing FinOps and its combination of tools, automation, and best practices to gain more financial and operational control of their Cloud. For greater ROI, leaders must take a holistic approach in building and installing Cloud FinOps practices that help engineering teams deliver quality product and better features faster such as:
- FinOps Core Principles and Lifecycle
- Accountability and Governance
- Automating Cost Management
- Tools and Accelerators
- Cost Optimization
By taking a top-down method, leaders can mediate Cloud overspend and build towards a goal of cultural change through Cloud FinOps to maximize their Cloud investment.