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FinOps Article (Introduction (Recent trends in cloud that has links to…

- - - - Inform/ Optimize and Operate
      - More or less initiated by Technical guys who are interested in Finance than Finance guys who are technical
        
        Need a balance
      - Codifying and promoting cloud financial management best practices and standards
  - - - This could lead to essential investments on digital transformation being cut down unnecessarily
- - - - Now serverless coming to picture this could explode
      - Some enterprise level real life examples of such cases are of 450 GB size uncompressed
    - - Brings activity based costing to the picture. You can determine the business value generated by a certain transaction comparing value and cost associated with that transaction
      - Whether to develop in house or
        buy from a third party vendor also
        could be determined
      - Various technical designs could be compared using cost aspect as well.
- - - - Associations with
        
        Product team
        
        Do we know the incremental cost associated with it
        
        What are the new features which are planned
        
        Technology Operations team
        
        Engineering team
        
        Do not work in Silos
      - As we do performance test should we start doing a Worth test to see the new feature is cost effective
      - Better colloboration betwen
  - - - Better colloboration with CIO/ Chief Product Answer and Leaders of LOB
        
        Cloud financial management framework
        
        Proposed model should include factors such as
        
        Revenue cost co-relation identification
        
        Decision making process/ model and structure
        
        How cloud governance come in to play
        
        At the same time how to enable the speed of delivery
        
        How marginal cost could be taken in to consideration
        
        Collecting and organizing data from multiple accounts/ platforms about purchasing, usage of resources, etc
        
        Provide visibility on these data across the organization
        
        Establishing automatic alerts and trends
        
        Offer reporting and monitoring capabilities
        
        There should be a mechanism to evaluate the MVPs on a regular basis and approve them to go ahead or framework which could be done by teams it self and present in their release readiness review
        
        Forming a cloud brokerage entity who could form the structural body that will make governance policies
        
        CIO team could act as technical experts
        
        CFO team provides the IT financial framework and KPIs
        
        Transparency is a absolute must
- - - - Roles that can be discussed
        
        CFO
        
        Manager Level
        
        Financial Analyst
    - - Current topics on integrated planning
        in Finance domain
        
        Iterative
        
        not linear
        
        Colloborative
        
        Not siloed
        
        Aligned
        
        Not disjointed
        
        Strategic
        
        not reactionary