As businesses increasingly migrate to cloud and hybrid cloud models, managing cloud spending is critical. While cloud adoption offers flexibility and scalability, it can lead to unexpected costs if not carefully managed. Instances of “cloud bill shock” are common, where unmanaged resources result in significant overages. To address this, many organisations are adopting FinOps, a methodology that optimises cloud spending through strategic financial management and collaboration. Let’s explore FinOps and how visualisation tools enhance its effectiveness.
What is FinOps?
FinOps is a cloud management approach that introduces financial accountability to cloud spending. It fosters collaboration between engineering, product, and financial teams to align cloud usage with organisational goals. Unlike traditional financial management, FinOps enables data-driven decisions, helping businesses optimise costs, scale sustainably, and avoid overspending.
A successful FinOps culture emphasises visibility, optimisation, and accountability. Collaboration across departments ensures everyone contributes to cost management. Key FinOps practices include:
Visibility – Monitoring and tracking cloud spending in real time.
Optimisation – Adjusting resources to minimise costs.
Allocation – Assigning costs by teams or projects for better budgeting.
Collaboration – Encouraging shared responsibility for cloud costs.
This approach fosters a financially conscious environment that supports long-term digital growth.
The FinOps Lifecycle
The FinOps process consists of three core phases: Inform, Optimise, and Operate.
Inform: Focuses on visibility and accountability. Organizations analyse cloud spending to identify contributors and allocate costs. Tools like FinOps dashboards enable financial transparency and stakeholder awareness.
Optimise: Implements cost-saving strategies like rightsizing (adjusting resources to demand) and auto-scaling (adjusting resources dynamically). These practices, along with reserved and spot instances, help minimise expenses.
Operate: Centers on continuous governance and improvement. Organisations establish policies to maintain financial accountability and regularly review costs as workloads evolve.
By following this framework, businesses create a repeatable process for cloud financial management.
The Role of Visualisation Tools
Visualisation tools are essential to FinOps, providing real-time insights into cloud spending and resource utilization. They empower teams to monitor, predict, and manage costs effectively. Key visualisation features include:
Real-Time Dashboards: Display live data on spending trends and underutilised resources, enabling proactive cost optimisation.
Cost Allocation Reports: Break down expenses by departments or projects, promoting accountability and informed decision-making.
Budget Alerts: Notify teams when spending nears or exceeds thresholds, preventing financial surprises.
Forecasting Tools: Use historical data to predict future costs, aiding accurate budgeting and resource planning.
While cloud providers offer basic tools, a team of data analytics experts at Keyrus will deliver enhanced visualisation and forecasting customised for better cost management of your organisation.
Implementing FinOps with Keyrus
Keyrus supports organisations on their FinOps journey by combining best practices with advanced visualisation tools. Our offerings include:
1. FinOps Assessment and Strategy Keyrus experts work with your teams to assess current cloud usage and spending patterns, identify areas for improvement, and develop a customised FinOps strategy.
2. Dashboard and Reporting Solutions Keyrus helps implement intuitive dashboards that bring cloud spending data to life, providing insights into usage trends and cost drivers.
3. Training and Culture Building Adopting FinOps requires a cultural shift. Keyrus offers training and workshops to help stakeholders understand their role in cloud financial management and make informed decisions.
4. Ongoing Support and Optimisation FinOps is an ongoing practice that requires continuous monitoring and adjustments. Keyrus provides ongoing support to ensure that FinOps practices are consistently applied and optimised as your organisation’s cloud environment evolves.
Aligning FinOps and Visualisation for Success
As cloud adoption accelerates, effective cost management becomes paramount. FinOps, complemented by robust visualisation tools, allows businesses to proactively manage cloud spending, maximise efficiency, and foster financial accountability. With Keyrus as your partner, you can confidently navigate your FinOps journey, leveraging expert guidance and tailored dashboards. This alignment not only optimises cloud investments but also ensures a resilient framework for growth and innovation.
Let us help you to strategically manage cloud costs for you to fully benefit from the cloud while maintaining financial control. Contact us at sales@keyrus.co.za