Reducing your cloud waste to free up the budget for valuable activities like innovation is CRUCIAL. Using FinOps as a discipline and company-wide practice can certainly help you. But is it opportune to use FinOps as a service or …?
It is hard to maximize your cloud computing business value due to the complexity of cloud cost data for single cloud and even harder for multi-cloud.
In this context, several parties provide FinOps as a service.
Outsourcing your FinOps
The pitch of these parties is that they serve multiple customers, have been in the cloud business for a long time, and have more and better FinOps capabilities than you have. With FinOps as a service, you would achieve better business results from your cloud spend.
Setting up these FinOps capabilities yourself would cost time and money.
Of course, it is entirely up to you whether FinOps as a service is a good fit for your organization.
In any case, we advise you to understand your cloud cost data and the follow-up actions based on FinOps practices. A FinOps as a service provider could give you these actionable insights.
It is your money. It can be around 30% of your cloud spend, so please take and keep ownership, regardless of who performs FinOps activities.
The other option
The other option is implementing a FinOps tool, which makes your FinOps team efficient and effective. With the right tool, you can easily manage your cloud spend while relating costs to business drivers and have budget holders take ownership.
Please also read “why your FinOps-teams need a third-party FinOps-solution”
So you keep the transparency of cloud costs in-house.
With the C-Facts FinOps solution, you are up and running in 2 days. Collecting and aggregating your multi-cloud data is automated. You can manage your cloud cost data via an intuitive dashboard and share the dashboard with (business) stakeholders.
Managing your cloud cost is crucial to maximizing the business outcomes of cloud computing. Whether you use a FinOps-as-a-service offer is up to you.
An excellent alternative to FinOps as a service is using the C-Facts FinOps tool. A SaaS solution focused on translating cloud cost to business drivers. We make it easy to manage your cloud cost from a business perspective and dive into the details to get actionable insights.