6 Collaborative Use Cases for FinOps and ITAM Teams

November 20, 2023

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.

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How FinOps Empowers Organizations to Tame Costs and Drive Efficiency

November 9, 2023

Author: Sergio Molina is Head of Cloud – FinOps at Santander UK and an ITAM Forum Ambassador (FinOps)

FinOps is a recent function and the natural response to addressing the challenge of understanding the true costs associated with Cloud Technology. Cloud FinOps really stands for Financial Management and DevOps. We define Cloud FinOps as a set of practices that combine financial management and technical expertise to optimize cloud spending and align investments with business goals.

Speed is the key distinction between operating and building products in cloud technology, as opposed to the server-based and on-premises computing paradigm. Speed encompasses availability, deployment, acceleration and product growth, which inherently results in rapid cost fluctuations. And the main reason why the speed is different, is that you are not buying infrastructure or ‘objects’ to place within your organization’s Data Centre. You are buying the time of the technology element, the capacity.
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Bridging ITAM and FinOps for Success Today and in the Future

November 9, 2023

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.
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ITAM & FinOps. How it works in real life

September 18, 2023

You may not have noticed, but everyone’s talking about FinOps. The so-called “ITAM of the cloud” is on every ITAM practitioner’s mind right now. The question isn’t, “does ITAM need to get involved with FinOps?”, but, most importantly (away from the books, pundits, and webinars), “what does this look like in real life?”.

We recently hosted a webinar, FinOps + ITAM: How it works in ‘real life’, to find the answer this question. The event, hosted by the ITAM Review’s Rich Gibbons, tapped the knowledge of a global panel of ITAM & FinOps Certified Practitioners:

  • George Arezina, ITAM & FinOps Consultant, and SAM & SaaS Trusted Advisor
  • Ron Brill, Chairman; Anglepoint
  • Salome Hugo, Head of Enterprise ITAM; FNB South Africa
  • Sergio Molina, Cloud FinOps and Digital Transformation Lead; financial services company
  • Wuming Zhang, Lead Cloud Architect; Helvetia Versicherungen Schweiz

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Why FinOps should be intergrated into IT Asset Management

July 18, 2023

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).

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We gained wisdom last week at Wisdom EMEA 2023

June 22, 2023

Last week, Wisdom EMEA was back in person and with a bang. It’s excellent agenda filled with interesting sessions (lead by a wide range of ITAM industry experts) made it hard at times to choose which breakout room to enter.

Below are six of our top takeaways from Wisdom EMEA. We tried to keep this list to five, but there simply was too much good information.

Reinventing ITAM for the Future:

Shadi Khoshab from SoftwareOne addressed what ITAM needs to manage (thinks Saas and FinOps), how it needs to operate (think value-driven), and what it needs to cover (think closer relationships with IT Service Management, Operations Management, Infosecurity and Sustainability – “Who better than ITAM to help avoid wastage.”). Furthermore, with the technology landscape evolving at an incredibly fast pace, there’s a real opportunity for ITAM to step up and evolve. Oh no, no, no…ITAM is certainly no longer just about license management.
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IT Priorities and how ITAM can help

April 24, 2023

We recently spoke with Alastair Pooley, Snow Software’s CIO, about key findings from Snow’s 2023 IT Priority Report and the associated opportunities for ITAM.

This report highlights a range of findings from an October 2022 poll of 800 CIOs based in Australia, Germany, the UK, and the USA. The aim was to unearth the challenges, opportunities and priorities facing CIOs and IT leaders in 2023 and beyond.
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FinOps: Why ITAM shouldn’t wait to make the first move

August 2, 2022

Earlier this month, we hosted a webinar discussion on FinOps, one of the biggest IT and business trends. It was a lively debate around:

    • Where the boundaries lie between ITAM and FinOps
    • Who sits within whose domain
    • Whether one is an extension or a competitor of the other
    • What are some quick ITAM wins to demonstrate why ITAM should have a seat at the table

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