Understand your AWS and Azure bills
Many companies already use public clouds as a critical foundation of their business infrastructure. Too often when the bill arrives, it feels like shoveling money into a bottomless pit. If this situation rings true with you, take solace in knowing that you’re not alone.
“Companies are spending, on average, 36% more on cloud than they actually need to.” –Joe Davila, KPMG CIO Advisory Director
Yikes! That’s a lot of money simply going to waste—money that could be better allocated towards new hires, advertising, market research, training, or any number of other areas to help your business grow.
If you’d rather watch your business expand instead of tossing money away, there’s a solution to this mess—and it’s one that Arctian can help you out with. It’s called Cloud Financial Management.
Image credit: AWS Cost Explorer documentation
What is Cloud Financial Management?
Cloud Financial Management (FinOps) is a discipline and process by which IT management and software development teams optimize the financial performance of their cloud investment and provide the business with insights to enable intelligent and informed decisions.
Each cloud vendor has various materials that identify “key dimensions” of Cloud Financial Management. The terminology may vary, however they all categorize and address the same topics to some degree or another.
The key dimensions of Cloud Financial Management service offerings consist of 4 main areas:
- Measurement & Accountability
- Cost Optimization
- Planning & Forecasting
- Financial Operations
Let Arctian do the math for you
Arctian’s professional cloud services team has long experience in working with both AWS and Azure public clouds. We understand the pain points of different types of public cloud customers and what comes to Measurement & Accountability and Cost Optimization. Let’s take a look at each briefly in more detail.
Measurement & Accountability
The first step in Cloud Financial Management is to identify, measure and provide accountability for costs. With this step, the goal is to establish cost transparency to ensure visibility, accountability and rationality for spend.
After costs have been measured, you’re now in a position to optimize them. In this step of CFM the goals are to identify waste, build cloud-friendly architecture that scales based on demand, and improve cost efficiency.
Additional advisory services are available to provide guidance on the last 2 key dimensions of CFM: Planning & Forecasting and Financial Operations.
Planning & Forecasting
With this step, the goal is to gain a better understanding of costs associated with current and future needs, thus driving more accurate financial and business planning.
The goal in Financial Operations is to identify and invest in people, processes, tools and automation to support cloud financial management.
Arctian is your trusted cloud partner
In addition to Cloud Financial Management, Arctian offers a full range of services and projects for clients looking for a reliable technology partner. Our mission is to help you be successful no matter which technology choices you have made. If you haven’t made those choices yet, we are more than happy to tell you what you should know before choosing your public cloud provider.
Our expertise covers a wide range of legacy and modern IT technologies all the way from IBM Mainframes and Power systems, physical and virtualized servers, storage and network solutions to public clouds. We can help you create hybrid solutions or migrate your existing workloads to the cloud. Our four main service pillars are:
- Cloud Advisory and Consultancy
- Software Development
- Cloud Migration Projects
- IT and Cloud Operations Outsourcing and Cloud Support Services
We provide turn-key solutions to clients based on your unique requirements. Our cloud technology specialists are certified on AWS, Azure and Red Hat technologies and more.
Contact us and let’s talk about your cloud needs!
This article is was first published at: https://iglu.net/cloud-financial-management-services/