Why FinOps should be intergrated into IT Asset Management

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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Wisdom EMEA 2023 Wrap Up

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 Priority

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: ITAM, make your move!

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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FinOps: Make it work for you

What is FinOps and how to make it work for you

April 13, 2022

This blog is from Brian Adler, Senior Director, Cloud Market Strategy, Flexera (an ITAM Forum Patron)

Bringing financial accountability to the cloud

In today’s environment, it seems as though there’s always another “ops” on the way. In fact, it’s common slang among techies to use “YA” (yet another) in front of the latest and greatest industry acronym.
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FinOps The What & Why

The What and Why of FinOps

April 8, 2022

This blog is from Jonas Lazar, Principal Business Consultant – FinOps, SoftwareONE (an ITAM Forum Patron).

FinOps, also known as Cloud Financial Management, is becoming increasingly important for organizations that leverage the cloud. As the de-facto operating model for the cloud, FinOps helps organizations tie cloud spend directly to business outcomes.
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