MagicOrange Joins The FinOps Foundation
MagicOrange is delighted to announce that we are now a general member of The FinOps Foundation enabling organisations to maximum their business value and helping teams to collaborate on cloud spending decisions. We are passionate about the goal of The FinOps Foundation in fostering collaboration between teams on cloud data-driven spending decisions and maximizing the business value of cloud.
Our Customer Success and FinOps delivery consultants are FinOps Certified Practitioners, providing the assurance that we have the expertise in this space.
As a SaaS solution, MagicOrange is also leveraging the FinOps Framework and best practices for our own cloud financial management and strategic needs. As a result, we will certainly be sharing all of our learnings throughout our FinOps journey with our customer base.
What is FinOps?
FinOps is an evolving cloud financial management discipline and cultural practice defined by the FinOps Foundation. FinOps brings together Finance, Business, and Technology teams to manage, control, and develop strategic cloud solutions. At its core, FinOps is a cultural practice. FinOps helps teams to manage their cloud costs, take ownership of their cloud usage and build a robust FinOps governance strategy.
Cross-functional teams in Finance, Product, Engineering and procurement work together to gain more financial control and predictability in their cloud spend and usage and deliver innovative solutions that a deliver a return on investment for companies.
FINOPS FOUNDATION
FinOps Certified Service Provider
FinOps experienced professional service providers that consult with enterprises about cloud financial management and help their clients with best practices.
10 Certified FinOps Practitioners | Active Community Presence | Passion for Cloud Excellence
Why FinOps?
Gartner predicts that worldwide spending on public cloud services is forecast to grow 20.7% to a total of $591.8 billion in 2023. Cloud Migration is not slowing down, with up to 30% of organisations overall IT Expenditure being on cloud.
Due to the variable nature of cloud it can be challenging to to predict and manage cloud spend compared to traditional IT technology models based on fixed expenditure. As companies rely more on cloud for their infrastructure needs there is a need for governance and control.
The FinOps Foundation states that “FinOps is the practice of bringing financial accountability to the variable spend model of the cloud, enabling distributed teams to make business trade-offs between speed, cost and quality.”