As a part of our cost optimization series, we already talked about the most common AWS cost optimization challenges and the reasons why every company needs to solve this. In this article, we’re talking about FinOps as a way to optimize cloud costs.
To solve their cloud cost optimization problems, some companies develop FinOps practices. FinOps refers to Cloud Financial Management. It is the process of adding financial transparency to the cloud’s variable expenditure model. The goal is to empower teams to balance between speed, expense, and quality.