Category Whitepapers and Guides
Hello and welcome back to another iteration of the inaugural Cloud Cost Optimisation blog where we highlight some of the latest news happening in Cloud Costs.
In a new (and successful) attempt from Google Cloud Platform (GCP) to make FinOps a core value, the top three cloud vendor has showed us the path to gradual FinOps adoption. Based on the principle of trackability and visibility, GCP has introduced FinOps’ specific KPIs allowing businesses to assess their FinOps readiness and set their FinOps adoption target.
With this offering, GCP is hoping to guide businesses in their journey to digital transformation. The set of five metrics proposed by the cloud giant include:
Aided by these indicators, businesses can now baseline their FinOps Maturity Level and plan for gradual development of FinOps capabilities.
At GlobalLogic, we celebrate the arrival of these game-changing metrics and look forward to supporting our partners in the development of their FinOps capabilities. Our team of FinOps certified experts are ready to leverage this new tool and take you on a successful journey towards FinOps maturity.
Find out more about these metrics and how to calculate them effectively here.
In this blog post, Troy Hunt details how he was caught out by his Cloud costs. The key takeaway is a fairly simple one: ‘pick your key services and make sure you have them monitored’.
In the blog Hunt explains how an unexpected increase in his Azure bill caused him to sharply focus on his Azure costs. As with most Cloud cost issues, it wasn’t one simple change that caused costs to spike. To get to the bottom of what caused the issue, Troy dug into the data. Doing this enabled him to identify the cause and react immediately, ensuring the costs were taken back under control.
Whilst not a blockbuster story, this blog highlighted a rabbit hole we’ve seen organisations fall into time and time and time again – and how simple it is to avoid.
The controls Troy put in place to ensure that he would be aware of any future cost increases aren’t complex or written via APIs etc. It was as simple as setting up some alerts to monitor key services. If this had already been in place, Troy wouldn’t have had an unexpected Cloud bill or have been able to write his blog!
Our advice? Use the alerts that the Cloud providers have and make sure you monitor them.
In 2021 the FinOps Foundation launched the first community led FinOps survey to gather high level insights and trends across the community. This has been incredibly useful in driving and building benchmarks and identifying pain points in the development of the FinOps journey.
In November 2021, the 2022 survey opened. As of March, there was over 1000 respondents from across all industries with heavy input from financial services – 70% of which were from large enterprises.
Initial data analysis is flagging that:
Stay tuned on the FinOps Foundation channel on YouTube for further information and results:
If you’re not sure where to start with your own Cost Optimisation journey, we can help.
Our FinOps certified Practitioners can walk you through the areas of where Cost Optimisation can be achieved – the low hanging fruit as well as the often-overlooked intricacies of rate card optimisation. This will give you a better understanding of the FinOps practices you need to benefit from in-year and year-on-year savings.
If you’d rather keep your team working on their projects, let us do the leg work for you. Although data gathering and the subsequent analysis can be time consuming and detailed, the activity is worthwhile, yielding between 5 and 22% return in the form of cost recoveries and ongoing management of cost. A return that more than covers the cost for the outlay of the program.
With the help of our FinOps certified Practitioners we can integrate into your existing ecosystem and drive positive behaviours to realise cost efficiencies that will keep you ahead of your competition.
If this sounds of interest, reach out here.