By Brittany Hammell | Senior Cloud FinOps Consultant, Trace3 Cloud Solutions
& Amanda Wagner| Associate Cloud FinOps Consultant, Trace3 Cloud Solutions
& Amanda Wagner| Associate Cloud FinOps Consultant, Trace3 Cloud Solutions
In the ever-evolving landscape of cloud computing, managing costs has become a critical aspect of operations. This blog dives into each of the various FinOps personas that play a unique role in ensuring the financial health of your cloud environment. As you continue to grow and improve your FinOps culture, we have a few thought-provoking questions to help you gain a better understanding of each specific persona.
FinOps Practitioners: Optimization and Cloud Cost Management
FinOps Practitioners are the bridge to connect your IT, Product and Finance teams to facilitate discussions, support optimization and overall increase business value. This involves monitoring resource usage, identifying cost inefficiencies, and providing recommendation strategies. They leverage cloud management tools and data analytics to examine spending patterns, recommend cost-saving measures, and foster a culture of financial accountability within the organization, ultimately maximizing the value derived from cloud investments.
"How can we equip our FinOps team with the right tools and training to help better understand our cloud spend?"
Business/Product Owner: Designing for Efficiency and Cost Optimization
The business/product owners in the cloud domain focus on providing insights into the strategic goals of the organization, helping to align cloud operations with business objectives. These individuals collaborate with Finance to understand the cost implications of different cloud initiatives, making informed decisions that balance innovation and cost-effectiveness. The primary goal is to innovate, increasing product growth by bringing new features or products to the market, while also maintaining accountability for their spend and ensuring it is tied to business value.
"What metrics can we provide to empower owners to balance innovation and cost-effectiveness?”
Engineering and Operations: Implementing and Monitoring
Engineering and Operation teams are responsible for designing the infrastructure that meets the organization’s technical requirements, while also considering costs. They leverage their expertise to choose the right mix of cloud services, implement best practices for cost efficiency, and architect solutions that align with the FinOps principles. These individuals focus on striking a balance between performance and cost, ensuring that the infrastructure is both scalable and financially sustainable.
“How can we integrate FinOps practices into our DevOps culture seamlessly?”
Finance: Analyzing and Reporting
Finance teams in the cloud domain focus on establishing true costs in the cloud to determine trends and create accurate forecasts. These professionals collaborate closely with stakeholders to set tagging guidelines for showback, explain financial implications, recommend optimization strategies, and track budget adherence. They play a crucial role in translating technical information into financial language, facilitating informed decision-making at both technical and executive levels.
“How can we streamline financial processes and reporting for better visibility and accountability?"
Executives: Aligning Cloud Operations with Business Objectives
Business executives such as CEO, CTO, and CFO, play a vital role in the FinOps framework by providing strategic direction, cultural backing and overseeing governance. Executives in FinOps take on a leadership role in guiding the organization's financial strategies related to cloud usage. They provide the vision, oversight, and support necessary for effective FinOps practices, ensuring that the organization maximizes the value of cloud services while maintaining financial discipline.
"What metrics and insights do our executives need to make informed decisions?"
Procurement
The procurement team plays a crucial role in managing the acquisition or creation of cloud services and resources. Their responsibilities include negotiating contracts with cloud service providers, evaluating pricing models, and identifying opportunities for cost savings. Procurement teams work closely with FinOps to align contractual terms with the organization's financial goals, such as optimizing usage commitments and taking advantage of volume discounts. Additionally, they monitor changes in cloud service offerings, staying informed about new features and pricing structures to inform strategic decision-making. By fostering collaboration between FinOps and procurement, organizations can enhance their ability to manage and control cloud-related costs effectively.
"How can we optimize vendor relationships?"
In the complex world of FinOps, success relies on the collaboration of diverse personas, each contributing their unique skills and perspectives. As organizations continue to embrace the cloud for its scalability and flexibility, understanding and embracing these FinOps personas becomes essential for achieving financial efficiency, driving innovation, and ultimately maximizing the value of cloud investments. Keep an eye out for trainings and certifications around various FinOps personas provided by the FinOps Foundation.
Brittany Hammell is a Senior Cloud FinOps Consultant at Trace3, whose mathematical background fuels her love for problem solving and driving resolutions for clients. Brittany has a passion for customer service and has gained vast experience with enterprise level customers over her 3 years at Trace3. Her focus is on supporting organizations in their FinOps journey, acting as an extension of their team and guiding them to mature their FinOps capabilities.
Amanda Wagner is a Cloud FinOps Consultant at Trace3, who brings her energy and previous experiences as an educator to guide her customers on their cloud journey. Drawing from said educational expertise, Amanda is motivated by the mission to serve her customers and help them continue to build on their knowledge of cloud management. In her time with Trace3, she has earned her FinOps Certified Practitioner and Cloud Health AWS Administrator Certifications. Amanda lives in Tampa with her husband, Matthew and dog, Penny. She enjoys tending to her caterpillar habitat, where she raises caterpillars until they hatch into Monarch butterflies and can be released.