Today we’re announcing that we’ve joined the newly formed FinOps Foundation as a founding member and FinOps Certified Platform. If you’re not yet familiar with the FinOps Foundation, their mission and purpose is “to advance the discipline of FinOps through best practices, education, and standards.” The foundation includes more than 2,000 company members and now adds leading industry service and technology providers (we’re in good company). In addition, we’re now a FinOps Certified Platform, which is a tier of vetted technology providers who offer software solutions to successfully adopt Cloud Financial Management practices.
We’ve been tracking the development of the FinOps Foundation for some time now, including its recent decision to affiliate with the Linux Foundation, so becoming a founding industry partner is really exciting for us!
The case for FinOps and the importance of the FinOps Foundation
Finance teams are responsible for cost efficiency and value precision forecasting, while technical teams are responsible for the infrastructure/application and value agility and flexibility. The incredibly dynamic and variable cost world of cloud creates significant tension between these two constituencies. How can they work together to efficiently optimize their cloud costs? This is precisely what the FinOps discipline addresses.
We’ve seen this movie before. Prior to DevOps, silos existed between Software Development and Operations. Developers were accused of throwing bad code over the wall while Operations were unreasonable gatekeepers unwilling to embrace rapid change. Neither team is wrong, but siloed responsibilities set teams up against each other vs. embracing joint ownership. DevOps was a cultural movement that broke down those silos through shared context and responsibility. FinOps does the exact same thing between technical and finance teams in cloud.
Finance teams must embrace a new world of dynamic and rapidly changing costs. Technical teams must consider cost as a primary design goal along with features, availability, security, etc. FinOps is a fundamental shift that enables these two teams (along with others) to jointly own and drive cost efficiency. Net net, FinOps will save your company money and make your teams work better together. That’s why we are so excited about the work the FinOps Foundation is doing to elevate the practice of Cloud Financial Management to the same level as DevOps.
ProsperOps’ role in FinOps
Cloud cost optimization has a massive scope and there is much work to be done. While there are many aspects of FinOps that rightly involve a combination of people, process, and governance, there are certain FinOps problems we fundamentally believe are best addressed with technology. By using AI, algorithms, and real-time execution to deliver cost optimization outcomes (vs. passive reporting and recommendations), we can provide truly industry-leading savings with no ongoing effort required. This puts money back into our customers’ cloud budgets, reduces the scope and complexity of the FinOps effort, and frees up FinOps practitioner cycles to tackle other critically important cost optimization efforts that can’t be addressed purely with technology.
Since the founding of our company, we’ve always sought to unify the worlds of FinOps and DevOps. In fact, our company name, ProsperOps, is a picture of bridging those two worlds so businesses can prosper in the cloud. We are proud to have customers on both the technical and finance teams and serve them on their FinOps journey.
We couldn’t be more excited to partner with the FinOps Foundation and members of the FinOps community to help deliver superior financial outcomes, with greater flexibility in their financial commitments, and more time to focus on other high value aspects of Cloud Financial Management. We believe the FinOps Foundation and ProsperOps are significant compliments to help you prosper in the cloud.
If you’re interested in becoming part of the FinOps Foundation, you can join here. If you’d like to learn how ProsperOps can move you into the top 1% of AWS cost optimizers, we offer a completely free, fast, and non-invasive savings analysis to show you the art of the possible and how much more you could save with ProsperOps.