In the era of artificial intelligence innovation, it is extremely difficult to keep track of tech budgets. Many of the organizations overspend just to make sure everything goes well as expected. However, around 20% of their cloud expenditures are wasted — money that could be better spent on innovation, infrastructure, security, and customer experiences.
To maximize your organization's cloud business value, it is imperative to implement FinOps best practices successfully that support cloud cost management and optimization.
According to the FinOps Foundation, “FinOps is an operational framework and cultural practice that maximizes the business value of the cloud, enables timely data-driven decision-making, and creates financial accountability through collaboration between engineering, finance, and business teams.”
As the name suggests, FinOps (Financial Operations), empowers teams to work faster, and promotes a cross-functional conversation about where and when to invest.
Inform:
Get visibility into your IT spend allocation, track your team-level budgets, and understand fully loaded costs.
Optimize:
You can identify opportunities to improve cloud efficiency and make real-time decisions on underutilized services, automation of resources, pricing, and rightsizing.
Operate:
Defined governance and control for cloud usage for continuous monitoring and improvement for efficiency and innovation.
Do you know? Alibaba Cloud FinOps is an all-in-one cloud cost optimization solution. You can:
• Identify cost-saving opportunities within minutes
• Analyze your cloud usage and related costs in real-time
• Discover anomalies and cost spikes before they happen
Alibaba Cloud FinOps facilitates the implementation of fine-grained cost analysis in multi-cloud environments by providing valuable insights on how to make the most effective and efficient cost-spending decisions. It provides a tremendous strategic approach to your cloud expenses that goes beyond traditional cost management. With Alibaba Cloud FinOps, you can ensure that applications get the resources they need in any cloud environment by gaining value from every dollar spent across all three phases: inform, optimize, and operate.
Alibaba Cloud provides a foundation for organizations to effectively manage their cloud spend and maximize the value of cloud investment with more visibility and accountability. Whether you want to allocate costs, enable team ownership, or optimize your cloud expenses, you can easily implement Alibaba Cloud FinOps best practices throughout your journey and grow your team in scale, scope, and complexity with a comprehensive set of flexible and reliable Alibaba products and solutions.
We at Click2Cloud aim to enable our customers to use Alibaba Cloud FinOps to manage cloud costs while protecting performance. No matter where you are on the cloud journey, Click2Cloud helps you with the strategy, AI-driven transformation plan, and migration roadmap.
Together Alibaba Cloud enables you to:
Get cloud cost management and optimization across the cloud to connect spend more easily to business value.
AI-driven automation helps you protect performance and control spending for your cloud operations.
Deeper cost analysis and collaboration between engineering, business, and FinOps teams enhance operational efficiency.
Alibaba Cloud FinOps Solution is a new approach to cloud financial management that helps you maximize the value of the cloud and drive better business outcomes.
Take the next step! Gain end-to-end cloud cost transparency and start cloud cost savings now with the Alibaba Cloud FinOps solution.
Disclaimer: The views expressed herein are for reference only and don't necessarily represent the official views of Alibaba Cloud.
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