If you are on the cloud or considering doing so... you need a financial operations review!
Moving to the public cloud doesn’t always mean saving money. If poorly managed, cloud can cost much more than a private data center or managed hosting provider. Opportunities for waste in the cloud are nearly infinite. Many of Qarik’s clients are now turning toward FinOps to help them optimize cloud costs. Roman Kharkovski, Principal Architect at Qarik, joins TFiR to discuss the best practices and evolution of FinOps.
Why FinOps? One of the biggest FinOps benefits is a reduction of cloud spend by eliminating resource waste; for example, Google notes one in ten GKE clusters idles and many over-provision by up to 30 times. Embracing FinOps maximizes savings—leveraging strategies like committed use discounts and smart region selections. Clear cost-splitting is crucial; product managers can't discern true product expenses without it. Unlike traditional cloud methods, FinOps champions business-driven decisions, balancing cost, quality, and speed. However, the transition isn't without challenges: engineers often overlook costs, organizational silos hinder collaboration, accurate cost tracking is elusive, and people naturally resist change.
Looking to optimize your cloud expenses while maximizing your agility? Qarik’s team of certified FinOps Practitioners are here to help. Contact us today to learn more about how your company can pivot toward a FinOps model.