FinOps for the win
Cloud Financial Management Operations (“FinOps”) provides the ability to leverage the possibilities of cloud without the risk of over usage, spiraling costs, lack of visibility and the other associated issues of cloud usage. FinOps is a process of introducing accountability for cloud spend and enabling data-driven decision making to be able to forecast future spend, optimize the estate, and negotiate better terms and conditions with cloud vendors.
To be successful in the future, organizations will need to focus on accelerated customer fulfillment, market requirements, and enforcing the optimization of cloud costs. They will need to further advance cloud transformation to create new products and services with the help of cloud technologies and the associated innovations. With SoftwareOne’s expertise and leading market insights, we can help ensure a successful implementation by leveraging the PyraCloud and GorillaStack platforms to track as well as optimize your cloud spend.
With the implementation of FinOps methodologies, SLM is further stepping up into a C-level functionality, taking back control of spiraling cloud spend and supporting the reduction of cloud spend. It is helping support CIOs and CFOs with meeting their strategic cloud goals and objectives by having a well managed, controlled cloud environment, yet still enabling the developers to have the functionality needed to support their agile development approaches.
SoftwareOne globally has the largest publisher, contract and client databases as well as the largest best-practice database supporting SLM. Still, we do not claim to be able to save you 30% or more as a minimum on your total software spend all the time (as is currently being promoted by many service providers in the market). The percentage depends on your current maturity level or on your focus area for cost optimization, amongst other things. Yes – if you are only focusing on your cloud spend and you are also leveraging “commitments” (e.g. reserved instances) the cost reduction can could be up to 70%. Nevertheless, we feel an average savings of 15-20% is achievable by analyzing your software and cloud estate throughout your whole lifecycle. SoftwareOne can support the analysis with our value chain and technical expertise, helping your organization identify process gaps and remediate with the right level of FinOps consultancy. We can help optimize your estate, reduce spiraling costs and develop cost efficiencies through well-negotiated cloud agreements.