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?
Now that you are starting to build your FinOps team and slowly changing your organizational culture, it’s time to start putting the teams to work - TOGETHER! In this blog I will provide you with some tools and processes to get you started.
Tidal Migrations is proud to welcome Shana Cunha to the team as our Director of FinOps Strategy. Working in the cloud since 2015 at AWS and holding the FinOps Practitioner certification, Shana has worked with many Enterprises ensuring maximum return of their Cloud Investment and seeking opportunities to deliver value to customers around the globe. We asked Shana for her thoughts on FinOps and what it means to Tidal Migrations customers. Shana?
As usage-based pricing models have continued to increase over the past decade, particularly for technology companies, there has been a major shift in budget planning and resource allocation. Since CFOs can no longer predict or approve each and every expense before they’re incurred, variations in usage costs can often make or break a company’s profitability. For example, two of the most common usage-based costs come from online advertising and IT-related cloud costs.
The financial services industry has built in more capital buffers to prevent market shocks from bringing another economic collapse. In addition to these financial controls, many banks and personal trading platforms have begun building resiliency into information technology shocks. Despite these new precautions, we’re still seeing outages today, preventing customers from depositing and withdrawing their money, completing transactions, and executing trades during key events.
