FinOps empowers IT, finance and business teams to maintain high velocity IT delivery while mastering the unit economics of cloud. Click here to learn more about FinOps.
“Our customers have been our strongest allies over the years, and together we've forged a path for performing cloud financial excellence at scale using a set of best practices that others can now apply in their own organizations, called FinOps,” said Mat Ellis, Founder and CEO of Cloudability. “FinOps is the operating model necessary for cloud at scale. It provides a framework to encourage unfettered innovation by IT while putting in place the practical guard rails from finance that a business needs to compete and win in cloud."
“As our investment in cloud continues to grow relative to overall IT spend, the tension between enabling high velocity teams to innovate while controlling and optimizing spend has become a balancing act,” said Hansjoerg Kaempf, Director, Cloud Governance and Cost Optimization at Cardinal Health, a Fortune Global 500 health care services company, and the 14th highest revenue generating company in the United States. “FinOps is a combination of systems, best practices and culture that empowers our cross-functional teams to maintain financial accountability against the variable spend model of cloud.”
Cloudability has made several announcements to bring FinOps practices to market:
New 451 Research Finds Enterprises Uneducated and Unprepared to Manage Multi-Million Dollar Cloud Budgets
Underscoring the need for FinOps, a new report, titled “Cost management in the cloud age: Enterprise readiness threatens innovation,” cites that more than half (53 percent) of large enterprises worry about cloud costs on a daily basis, with 80 percent of respondents acknowledging poor cloud financial management has had a negative impact on their business, including a drop in innovation. The report concludes that cloud budgets have quickly become a material part of IT spend, and outside of the largest cloud spenders who budget $1M+/month on cloud most enterprises are unprepared to manage this variable spend resource. The survey captures responses from 300 Finance and IT leaders in the US and UK.
FinOps Foundation: Leaders From Atlassian, Autodesk, Cloudability, HERE Technologies, Just Eat, Nationwide and Spotify Join Together
The FinOps Foundation (F2) is a non-profit organization focused on codifying and promoting cloud financial management best practices and standards. F2 is an open membership community consisting of IT, finance and business practitioners and executives. The foundation provides a number of resources, including a community website (FinOps.org) dedicated to sharing best practices, access to FinOps meetup groups, training workshops and events. Members will also gain early access to learning materials, such as the forthcoming book, Cloud Financial Management: Building a Culture of FinOp to be released by O’Reilly Publishing.
New UK Managing Director to help Cloudability continue exponential UK growth
Nigel Arthur, a twenty-year veteran in the software industry, has been appointed UK Managing Director and head of EMEA and APAC sales. The moves comes following a year of significant growth for Cloudability in the EMEA region, which saw six times year-on-year growth.
Before Cloudability, Nigel worked at market leading software companies including RSA Security (acquired by EMC), WebTrends, Responsys (acquired by Oracle) and ExactTarget (acquired by Salesforce). He formed and grew the EMEA team of Urban Airship, a market-leading digital channels engagement solution, during which the EMEA customer base grew from 5 to more than 300 and the team from 2 to 30.
J.R. Storment, Co-founder at Cloudability said: “We’re very excited to welcome Nigel on board. This is his 4th time building EMEA operations for a US SaaS company. As the EMEA cloud market continues to be one of the fastest growing in the world, Nigel’s experience is perfectly placed to help Cloudability scale and meet customer demand within the region.”
FinOps Index
For the first time, enterprises can evaluate their cloud financial maturity by benchmarking themselves against an index of low, medium and high performance. The FinOps Index is built on aggregate Cloudability customer data spanning $9B in cloud spend under management, and provides a quantitative benchmark for cloud excellence based on criteria such as purchasing efficiency, provisioning optimization, resource utilisation and infrastructure tagging.
