Every couple years, it seems the tech industry mashes together different team names to make up the latest discipline — whether it’s DevOps, DevSecOps, AIOps, or most recently, NoOps. The names can seem eye roll-worthy at first. However, when their associated practices are followed correctly, many have been transformative. They force collaboration early and often — which helps companies improve velocity and foresee potential risk before disasters occur.
If you are involved in the public cloud world, you have probably heard the term FinOps thrown around, but do you know what it means? More importantly, can your organization execute on a FinOps approach to benefit from its promise to bring financial accountability to cloud spend?
In 2020, cloud migration sped up by a factor of 24, according to McKinsey. Would you be surprised to learn there were a lot of factors driving that shift? Due to COVID-19, companies needed to go remote fast and securely. They wanted to lift the maintenance burden off overworked IT teams. And, in the face of the year’s worldwide economic uncertainty, motivation to take advantage of cloud’s cost savings was running high.
In recent years, traditional financial services companies have increasingly come under attack from fast-moving financial technology firms—or “fintechs”—which use software to erode the market share of their competition.