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Infographic Developing Effective Finops Practices For Aws

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46 views

Infographic Developing Effective Finops Practices For Aws

Uploaded by

broadband Gateway
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Developing Effective FinOps

Practices for AWS


FinOps makes it possible for organizations to maximize the value of their
cloud deployment through more informed decision-making. To get started,
there are a few best practices that your organization can follow.

Fast Facts about FinOps

1 2

 Organizations tend to underestimate wasted spend. The


 Gartner predicts worldwide public cloud services spending average organization reports that 12% of their
will total $362.263 billion by 2022 technology spend is wasted, but research has found the
 As a corporate governance approach, FinOps can help you actual amount to be 30%
achieve a cost savings of 10-20%  53% of enterprises spend $1.2 million or more annually on
 FinOps teams had an average of 4 people in 2020 but are AWS
expected to grow by 75% through out 2021.  77% of technical professionals measure cloud progress
according to cost efficiency/savings

FinOps doesn’t revolve around cost savings – its purpose is to make the most of every dollar
spent in the cloud, helping you turn your deployment into a long-term investment.

What Causes Out-of-Control Cloud Costs?


Overspending on technology is an age-old issue, but the cloud adds an additional
layer of complexity. This is because the cloud shifts organizations into an operational
expenditure framework, which creates variable costs that are difficult to quantify.

1 2 3 4 5
No centralized cloud No centralized location Poor visibility over the Difficulty using Lackluster
procurement policies for cost-related data cloud estate automation to control reporting mechanisms
variable costs

81% of technical professionals found a lack


of good quality data to be a “significant” or
“somewhat significant” challenge to making
IT decisions

Flexera “State of Tech Spend 2021”

5 Steps to Reduce Costs & Enhance


AWS Operations
Overspending on technology is an age-old issue, but the cloud adds an additional
layer of complexity. This is because the cloud shifts organizations into an operational
expenditure framework, which creates variable costs that are difficult to quantify.

1 Perform a licensing assessment: 2 Build a business case:

a. Review current licenses a. Determine organizational KPIs and what drives them forward
b. Identify areas of underutilization and overspending b. Rank drivers in order of importance
c. Consider the volume of resources that each application uses

3 Identify initial workload: 4 Develop an implementation roadmap:

a. Outline and rank the business case for each license a. For an AWS migration, determine Amazon Elastic Compute
b. Consider dependencies to ensure consistent operations Cloud (EC2) instance types and Amazon Elastic Block Store
(Amazon EBS) volumes
b. Assign applications and infrastructure elements to migration
groups based on shared databases, shared servers, and
application communication requirements

5 Innovate and modernize:

a. Assess the complexity of database modernization


b. Assess the impact of adopting containers and serverless technologies to modernize your application

Building Your FinOps Dream Team


People, processes, and technology are all crucial to
creating a mature FinOps approach. When you’re
building a FinOps team, make sure the following
departments are included:
 FinOps/Cloud Financial Management
 IT/Engineering or DevOps
 Executive Leadership
 Cloud Vendor or Cloud Management Solution
Vendors
 Finance Getting the Tools You Need to
 Procurement Enable FinOps for AWS
Creating an excellent FinOps framework for AWS
requires an in-depth understanding of all IT
expenditures and an organizational structure that
values governance and accountability. This often
requires an investment in tools that provide the
following capabilities:

 Visibility into software and cloud subscriptions


 Easily digestible cost-saving data
 Automated tagging hygiene
 Customized dashboards and reports

Viewing your AWS deployment through the lens of FinOps principles will
provide your organizations with new ways to scale, innovate, and
continue to grow. Investing in the future of your cloud deployment will
help you gain an edge in today’s competitive marketplace.

Interested in learning more? Get all the best practices by reading


SoftwareOne’s new AWS and FinOps eBook.

Copyright © 2023 by SoftwareOne AG. All Rights Reserved. SoftwareOne is a registered trademark of SoftwareOne AG. All other trademarks, service marks or trade names appearing herein are the property of their respective owners. The content
has been compiled with meticulous care and to the best of our knowledge. However, SoftwareOne cannot assume any liability for the up-to-dateness, completeness or accuracy.

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