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.
MagicOrange and FinOps
MagicOrange is a general member of The FinOps Foundation. We are passionate about the goal of The FinOps Foundation to advance people who do cloud financial management and to adopt the FinOps Framework and best practices as part of our organisation.
Our customer success and FinOps Lead consultants are FinOps Certified Practitioners.
As a SaaS solution, MagicOrange is also using the FinOps Framework and best practices for our own cloud financial management and strategic needs. So, we are certainly going to share all our learnings on our FinOps journey with our customer base.
Gartner predicts that worldwide end-user 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 to be on cloud.
Due to variable nature of cloud, it can be challenging to understand if you are more familiar with fixed expenditure atypical in the traditional IT technology models. As companies rely more heavily on cloud for their infrastructure needs there is a need for a discipline and practice that helps organisations manage their cloud spending
The FinOps Foundation states "FinOps is the practice of bringing financial accountability to the variable spend model of cloud, enabling distributed teams to make business trade-offs between speed, cost and quality".
Do You Need Assistance With Any of the Following?
Trying to understand what is the best cloud operating model for your organisation?
Does cloud terminology and cloud cost allocations leave you in the dark?
Has your company migrated to cloud, but costs are spiraling out of control?
Are you wanting to implement a cloud optimisation strategy for immediate cost savings?
Looking to easily budget and forecast cloud expenditure based on your business requirements?
MagicOrange Can Help You Realize These Benefits
Get a FinOps maturity assessment to identify where you are in terms of your cloud maturity and how to get you optimal results
Guidance on providing you with the optimal cost model and operating model design for your business
Gain a structured cloud migration approach from setting up mini business cases across different business units
Review your cloud usage and provide cost and usage optimisation recommendations aligned to your business objectives
Our FinOps consultants will review your cloud bill for cost and usage rightsizing opportunities
Strategic cloud planning to forecast and plan your cloud expenditure
Who MagicOrange Helps
Struggles to defend the true cost of shared services and measure asset utilisation effectively
- Understand shared services spend
- Predict future shared services spend
- Find opportunities to run shared service departments more effectively
Experiences difficulty in allocating complex shared service costs
- Understand and manage the total cost of ownership of shared products and services
- Create accurate budgets which can be explained
- Be empowered to show shared service spend and future requirements
Has an incomplete view of allocated shared services costs
- Be empowered to make smart decisions concerning the use of shared services
- Understand and address inefficient usage of shared services
- Receive a true profit margin for delivering services and products to market