Foghorn’s FinOps Services
Maximize the Value of Your Cloud Adoption Journey With Foghorn’s FinOps Services
Gain Multi-Cloud Cost Visibility
Mitigation of Financial Risks
10% minimum cost savings guarantee on your next cloud bill. Learn more.
FinOps – Your Key to Building an Efficient Cloud Cost Management Strategy
Because cloud technologies span across departments within an organization, this cross-ownership makes it easy for organizations to lack the visibility needed to control costs. This increases the need for stronger cloud financial management, also known as “FinOps.”
FinOps is a model designed to help cloud adopters leverage the power of the cloud and control their costs across all departments.
Leveraging the FinOps model, you can gain the visibility you need to optimize your cloud investments, all while empowering your teams to make informed business decisions and drive accountability for cloud spending.
Benefits of Cloud Financial Management
The benefits of the cloud are secret to none, but soon orphaned workloads can accumulate and costs can become unwieldy. That’s where FinOps comes to the rescue.
According to a report by IDC, by 2023, 80% of organizations using cloud services will implement a dedicated FinOps function to optimize cloud resources to maximize value.
Here’s how our FinOps services can help you:
Enable Real-Time Decision-Making
Build a Culture of Financial Accountability
Identify Resource Optimization Opportunities
Better Cost Optimization
With our strategic approach and technical expertise around cloud FinOps, we can assist our customers to anticipate, manage, control, and optimize their cloud costs.
Decoding the Core FinOps Principles
To drive financial accountability and accelerate business value in the cloud, here are 6 key FinOps principles that we’ve seen play a fundamental role in the successful execution of cloud FinOps.
1. Team Collaboration
2. Business Value of Cloud
4. Timely Reporting
5. Variable Cost of Cloud
The FinOps Lifecycle
The FinOps journey consists of three phases:
Inform – Make information visible for intelligent decisions
Optimize – Drive Cloud efficiently by automating resources
Operate – Build a FinOps culture & continuously improve for efficiency and innovation
FinOps Maturity Model
FinOps is iterative by nature. You will witness improvement in the maturity of any given process, domain, capability, and functional activity with repetition.
A “Crawl, Walk, Run” approach to performing FinOps allows companies to start small, thus growing in scale, scope and complexity as functional activity matures.
Key FinOps Metrics and Performance Indicators
Peter Drucker was right when he stated, “What gets measured gets managed.” That’s why it is important to establish metrics and KPIs to create measurable benchmarks for cloud resource monitoring and usage.
Here are some key metrics to keep in mind for FinOps success:
Resource Optimization Metrics, such as:
Actual vs. Budget Per Service
Spend Per Application
Pricing Optimization Metrics, such as:
Once these metrics are in place, you can establish advanced KPIs.
Cloud Optimization KPIs, such as:
Number of Security Lapses in a Month
Important KPIs, such as:
Usage on Weekends vs Weekdays
Cloud Visibility KPIs, such as:
Experience the Foghorn Difference
Foghorn’s FinOps experts hold extensive experience in analyzing cloud usage and driving down cloud spending for clients on AWS, Azure, and GCP. We’ve reduced over 40% from customers’ AWS, GCP, and Azure bills, resulting in hundreds of thousands in savings per month. If you wish to accelerate and realize business value in the cloud, Foghorn’s FinOps experts are ready to assist and manage your cloud cost in the most efficient way.
Hear our Customer Success Stories!
Dave Swan, Vice President, IT & Applications, Natera
STEVE POLSKY, JUVO FOUNDER & CEO