Adopting Cloud technology comes with a new financial model. Variable spending becomes the standard, while the "spending power" goes from procurement teams to engineers. One button click can lead to instant costs. The agility of cloud technology does have a flipside of the medal. It is a matter of time before a CIO will get confronted with "the invoice from hell". The invoice with a sudden significant consumption cost. One month to the other. Nobody saw it coming. And worse, nobody knows what triggered it.
Cloud Financial Management (or FinOps) will help customers to:
- Understand cloud consumption cost
- Optimize their spending
- Avoid unexpected costs from happening
To get control over consumption costs in a cloud centric IT environment we use an industry standard FinOps framework, This framework is managed by the FinOps Foundation. 45° is adopting this framework as a baseline and we fit it in our standard Cloud Center of Excellence approach.
To introduce the FinOps Framework we need to make sure we understand your business. Therefor, we work with 4 phases.
- In this phase, we try to understand you by doing some workshops to assess your maturity. Or do some workshops around specific topics.
- After these workshops, we start planning. During this phase we plan your FinOps roadmap. We will use a realistic and pragmatic approach with a cadence and Cloud Financial Solution that meets your needs.
- Once we have planned the roadmap, we can start our pilot. This might involve a first assessment with first quick wins depending on the need. This might also include building the practice and laying the first cornerstones of your FinOps journey. After the pilot phase we will move into the Run Phase
- In the Run phase we are continuously working with you and your teams to put financial guardrails in place. Work on procurement strategies and putting the right cost allocation strategies in place. Embedding FinOps deep in your companies DNA so it is no longer an afterthought but it becomes part of the daily operations.
At 45degrees we are a firm believer of creating a FinOps solution for every cloud spent. Therefor we have a solution offering going from one-time engagements and workshops to a strategical- programmatical approach. Where-ever your company is in it’s cloud journey keeping an eye on your invoice is always a good idea.
You are an individual that is working on any cloud technology. You see a cloud cost wave coming to you and want to know more on how you can contain this upcoming event. Worry no more. At 45degrees we have seen this wave multiple times and have established a one-day training program that will help you understand the FinOps framework. We will even help you with building some of the capabilities you are currently struggling with. Want to know more?
As part of building a practice, education is a crucial cornerstone of cloud success. As 45degrees, we believe every company should start understanding the cost structure and the various aspects that influence the monthly invoice. We developed 3 FinOps foundation workshops. Every single one of them is focused on a specific topic. We will help you understand every topic in more depth.
Cost allocation is one of the main workingstreams a FinOps practice is working on. Of course, it is essential to understand where all these cloud dollars are going. It is important to create a common understanding across your company. We will introduce you to a methodology based on the FinOps framework to allocate al cloud cost across your business. Yes, that also includes all shared costs
Starting a Strategic FinOps Practice
Most companies do some bits and pieces to reduce their cloud invoice. However, a more structural approach is needed to control your cloud invoice at scale if you are growing your cloud consumption. During this workshop, we will accomplish two goals in 1 day. We will help you understand all capabilities of FinOps in more depth. We assess the maturity of your organisation at this moment. Based on our FinOps maturity report, you will be able to build your FinOps practice structurally.
We developed this workshop as a well-planned and executed reservation strategy that will benefit your cloud bill in the long run. A poorly planned and executed reservation strategy will cause a rising invoice. We developed this workshop to familiarise you with all the possibilities available to reserve your usage. We will share the best practices we have learned in the field.
Cloud Economy As A Service
This service will focus on the different levers you can pull to do cloud financial management. This service will be ran by 45degrees and has clear deliverables. We will report back to you based on your persona and what is important for you and your business. Reports will include for example showback, waste, usage based on budgets. We will do this by introducing a tool where we will create personalized dashboards for all people involved in this project. Our report will have remediations and recommendation steps you can take to get more control on your cloud expenditure.
Focus will be on the deep integration of FinOps in your company by introducing a FinOps Culture. Together with you we will work on Processes, IT Finance, goal planning we will enable your company to do better forecasting, have your organization aligned.
Of course we will not neglect Anomaly detection, Showback, Forecasting, Usage optimization as part of this strategical engagement.
Need some help or guidance on your FinOps journey?
We are happy to listen, and even more to help.
Part of the Cronos Group
Need some help or guidance on your transformation journey? We are happy to listen, and even more to help.