What is FinOps?

If you're looking for a way to allocate costs and cost savings to cloud implementations, FinOps may be the solution. FinOps, or FinancialOperational, is a framework that provides business value for cloud costs, enabling financial accountability so that timely data-driven decisions can be made. This is possible because optimal cost management is possible by effectively managing finances using the cloud through collaboration between IT, finance, and operations teams.

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What do you gain by adopting FinOps?

FinOps can be a solution that maximizes cost reduction plans, optimizes costs, and drives cost control to obtain ideal financial resources from strategies implemented through FinOps. Without stopping there, FinOps implements quantitatively applied performance metrics to clearly see the impact of managing costs in the cloud. In this way, you can take full advantage of the potential of integrating FinOps services while using them at minimal cost.

Improve the management of cloud cost reporting and identification of decisions to be made by understanding the strategies implemented to identify cloud costs at specific management levels. This allows decisions to be made to improve the performance of cost reduction strategies in the cloud.

The increase in operational efficiency is also one of the impacts recognized because companies can utilize FinOps to monitor and manage costs in a transparent and real-time manner. Thus, the budget provided avoids potential waste. Furthermore, spending is better than before, and process improvements have a positive impact on changing cost requirements and reducing excessive operating costs.

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How do OpsNow and FinOps integrate?

The collaboration between OpsNow and FinOps has the aspects IT and finance teams need to work together to build optimal integration. FinOps plays a role in supporting OpsNow in allocating and optimizing finance to meet cloud management requirements through the presence of FinOps. Through this, OpsNow and FinOps establish a very good partnership to satisfy the results obtained by customers.

The aspects provided by FinOps strongly support the principles applied to cloud management. Also, in order to make more ideal decisions for the company's development, it is very possible to apply cloud usage resources to the company so that it can better deliver it. Best practices for integrating OpsNow with FinOps include:

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Company A case

After Company A implemented the cloud, usage increased, leading to continued cost increases. To manage these costs, we decided to implement OpsNow.

• Recommendations for buying a commitment based on usage analysis: By analyzing commissions through the OpsNow feature, Company A achieved cost savings of 27% for computing, 40% for DB, and 30% for cache in each area.

• Monthly cost analysis and optimization consulting: Cost savings factors are listed in detail in monthly reports through cost management meetings conducted through OpsNow. Company A achieved true cloud cost savings by discovering the following cost savings within 5 months:
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  - Cost savings by reducing Compute by 18%, DB 63%, Storage by 37%, and VPC by 13% Reduce costs by reducing Compute 18%, DB 63%, Storage by 37%, and VPC by 13%

Company A used OpsNow to reduce cloud costs by approximately 39%, improve service reliability, and increase customer satisfaction and revenue.

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Company B case

Company B initially used domestic cloud services, but they were often unstable. We moved most of our infrastructure to AWS in about 4 months. Due to business growth, infrastructure costs have increased 9 times, making cost management necessary.

• Resource optimization management: Company B accesses OpsNow's Resource Optimization menu on a daily basis to identify and manage wasted resources.

• Dashboards and cost analysis: By monitoring daily cost changes and detailed information about these changes through the OpsNow dashboard and cost analysis menu, you can quickly manage costs without the inconvenience of directly checking the console.

By using OpsNow, Company B was able to reduce cloud costs by approximately 25%. We've also reduced time and resources spent on resource management and cloud costs. With OpsNow, infrastructure management can be easily managed without any issues.

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Company C case

Customer C is a reputable fashion B2B platform company that has been using OpsNow for about 3 years. They continuously reduce and manage costs through cost reduction consulting and ongoing cost reviews.

• Optimizing management of unused resources: Company C continuously performs real-time monitoring of unused resources through OpsNow's Resource Optimization menu. They control resource spending by regularly managing unused resources that still incur costs.

• Recommended drug purchases through usage analysis and ongoing cost optimization consulting: Company C used OpsNow to identify real-time cost savings factors through resources and commissions. We also achieved continuous cost savings through approximately 6 cost optimization consulting sessions through OpsNow.
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  - 1st place: 5.9%
  - 2nd place: 35%
  - 3rd place: 11%
  - 4th place: 4.96%
  - 5th place: 20.2%

Customer C has continuously reduced cloud costs by effectively utilizing OpsNow to manage resources and costs in real time. I've gotten so used to OpsNow over the past 3 years that it's hard to imagine managing cloud costs without OpsNow.

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