Finops Foundation

Author: Hayley Salyar from Snow Software (an ITAM Forum Patron)

This blog first appeared here on the Snow Software website.

Managing costs and resources efficiently has become paramount for organisations seeking to maintain competitiveness. Financial Operations (FinOps) and IT Asset Management are two distinct but interconnected fields that play a vital role in optimising costs and resources. This blog discusses crucial use cases, demonstrating how FinOps and ITAM collaboration can lead to streamlined processes and enhanced cost management.

These use cases are from the framework the FinOps Foundation established on how ITAM intersects with FinOps capabilities.

Read more

Author: Apurva Mahendra from Snow Software (an ITAM Forum Patron)

This blog first appeared here on the Snow Software website.

In today’s business landscape, companies are adopting a hybrid infrastructure model with the public cloud experiencing rapid growth. Spending on the public cloud is projected to increase by 21.7% to $597.3 billion in 2023, up from $491 billion in 2022.

In this hybrid reality, FinOps professionals are tasked to derive the business value of cloud and work with other parts of the business (engineering, finance, business teams, etc.) to collaborate on data-driven spending decisions.

The north star principle¹ from the FinOps Foundation is, “Teams must collaborate.” Among those teams and personas are the ITAM leader and ITAM practitioner, and they lay the groundwork for a successful cloud cost program.
Read more

Author: Sherry Irwin
Founder of Technology Asset Management Inc; ITAM Forum Trustee, ITAM Forum Canada Chapter Lead

According to the FinOps Foundation Technical Advisory Council, FinOps is “an evolving cloud financial management discipline and cultural practice that enables organizations to get maximum business value by helping engineering, finance, technology and business teams to collaborate on data-driven spending decisions.”

Indeed, other sources describe FinOps as a cost management paradigm shift, which “…strives to bring together technology, business and finance professionals to better understand cloud costs and make more informed decisions”.

Most, if not all, of the coverage suggests that FinOps is a new focus and function, typically driven by and located within the financial organization; and, with its own principles, framework, phases, maturity model and practices (capabilities).

Read more