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Key 2024 Changes to the Definition of Cloud FinOps

FinOps Foundation

The Cloud FinOps community has grown exponentially since the launch of the FinOps Foundation in 2019. Tens of thousands of people now manage the value of cloud for their organizations, and participate with fellow practitioners, supporting members, and cloud providers who make up the Cloud FinOps community.

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Getting Started with Cloud FinOps: Top 3 Cloud Cost Optimization Strategies

ProsperOps

Discount Instruments Compute (EC2, Lambda, Fargate) comprise more than 60% of most organizations’ cloud bills. By leveraging Reserved Instances and Savings Plans , finance teams can often realistically reduce their compute costs by 30% to 40%, reducing their overall AWS bill by as much as 25%.

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Getting Started with Cloud FinOps: Top 3 Cloud Cost Optimization Strategies

ProsperOps

Discount Instruments Compute (EC2, Lambda, Fargate) comprise more than 60% of most organizations’ cloud bills. By leveraging Reserved Instances and Savings Plans , finance teams can often realistically reduce their compute costs by 30% to 40%, reducing their overall AWS bill by as much as 25%.

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FinOps Tool Vendors Adopt FOCUS

FinOps Foundation

and adoption of FOCUS by AWS, Google, Microsoft, and Oracle , FinOps Practitioners can now obtain and use FOCUS datasets for multi-cloud FinOps analysis. This source-agnostic billing standard is much-needed, as organizations must manage not just cloud infrastructure costs, but also SaaS, licensing, and on-premises costs.

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The Scope of FinOps Extends Beyond Public Cloud

FinOps Foundation

Key Insight: To effectively manage the variable nature and distributed procurement model of cloud, FinOps Practitioners have built capabilities to maximize the value of their organization’s technology investments. We first explored this anticipated shift in the second edition of Cloud FinOps (pg.

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FOCUS 1.0 is Now Available. Practitioners and Clouds Continue Adoption.

FinOps Foundation

Key Insight: FOCUS is the unifying format for cloud bills. FOCUS is being adopted by end user FinOps Practitioners, leading cloud Infrastructure-as-a-Service (IaaS) providers, and FinOps tool vendors, who all benefit from removing complexity associated with cloud billing data normalization.

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A Comprehensive Guide to Choosing the Right FinOps Tools in 2024

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Table of Contents What Are Cloud FinOps Tools?

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