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FinOps Glossary

Explore the ProsperOps Cloud FinOps glossary. Learn the basic terms from A to Z that every FinOps team should know, and start your FinOps journey!

a

AWS Cost Allocation

AWS Cost Allocation refers to the process of distributing AWS costs among different projects, departments, or cost centers based on resource usage and consumption.

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b

Benchmarking Cloud Costs

Benchmarking cloud costs is the process of comparing your cloud spending against industry standards or peer organizations to assess efficiency and identify opportunities for optimization.

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c

Cloud Cost Accountability

Cloud Cost Accountability refers to the practice of holding individual departments, teams, or business units within an organization responsible for their cloud spending. 

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Cloud Cost Anomaly Detection

Cloud Cost Anomaly Detection is the process of identifying unusual or unexpected spikes in cloud spending that deviate from normal usage patterns.

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Cloud Cost Center of Excellence (CCoE)

A Cloud Cost Center of Excellence (CCoE) is a dedicated team or group within an organization that focuses on managing, optimizing, and governing cloud spending.

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Cloud Cost Governance

Cloud Cost Governance refers to the framework of policies, procedures, and controls that organizations implement to manage, monitor, and regulate their cloud spending.

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Cloud Cost Visibility

Cloud Cost Visibility refers to the transparency and clarity with which an organization can view and track its cloud usage to identify the What, Why, Where and By Whom.

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d

Data Transfer Costs

Data Transfer Costs refer to the charges incurred when data is moved into, out of, or between cloud environments. 

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f

FinOps Chargeback

FinOps Chargeback is the process of allocating cloud costs to individual teams, departments, or projects based on their actual resource consumption, ensuring each group is financially responsible for its cloud usage.

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FinOps Tools

FinOps Tools are specialized software platforms that enable organizations to implement FinOps practices by providing visibility into cloud costs, optimizing resource usage, and enforcing cloud governance.

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g

Google Cloud Cost Management

Google Cloud Cost Management is the practice of managing and optimizing Google cloud costs to ensure cost efficiency and alignment with business goals.

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h

Horizontal Scaling

Horizontal Scaling, also known as scaling out, refers to the process of adding more servers or nodes to a system to handle increased demand and improve performance.

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i

Instance Rightsizing

Instance Rightsizing is the process of analyzing and adjusting the size and type of cloud instances to better fit the specific needs of your workloads.

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IT Financial Management

IT Financial Management (ITFM) is the practice of managing and optimizing an organization's IT expenses to ensure that technology investments align with overall business objectives.

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IT Showback

IT Showback is a financial practice that involves tracking and reporting cloud costs to individual teams, departments, or projects within an organization, without directly charging them.

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k

KPIs of FinOps Practitioners

KPIs (Key Performance Indicators) are measurable values that help FinOps practitioners track the effectiveness of their cloud financial management strategies.

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l

Load Balancing

Load Balancing is the process of managing and distributing network traffic across multiple servers to optimize performance, increase availability, and prevent any single server from becoming a bottleneck.

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m

Multi-Cloud Cost Management

Multi-Cloud Cost Management refers to the practice of managing and optimizing costs when using multiple cloud service providers simultaneously.

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o

On-Demand Pricing

On-Demand Pricing is a cloud billing model where you pay only for the resources you provision, with no long-term commitments or upfront payments.

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p

Platform-as-a-Service (PaaS)

Platform-as-a-Service (PaaS) is a cloud computing model that provides developers with a complete environment (hardware, software, and infrastructure) to develop, run, and manage applications without dealing with the underlying infrastructure.

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r

Rate Optimization

FinOps Rate Optimization is the practice of securing the best pricing for cloud services by leveraging discounts, pricing models, and agreements to reduce overall cloud costs.

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s

Software-as-a-Service (SaaS)

Software-as-a-Service (SaaS) is a cloud-based service model that allows users to access applications through a web browser, with the software hosted and maintained by the service provider.

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u

Usage Optimization

FinOps Usage Optimization is the process of analyzing and adjusting cloud resource usage to ensure that organizations are getting the most value for their spending.

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v

Vertical Scaling

Vertical Scaling, also known as scaling up, refers to enhancing the capacity of a single server or instance by adding more resources like CPU, memory, or storage.

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w

Workload Optimization

Workload Optimization is the process of adjusting and fine-tuning cloud resources to match the specific demands of your workloads, ensuring optimal performance and efficiency.

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