Why FinOps is Important for organizations?
Organizations today face significant challenges in managing and measuring cloud costs. With complex pricing models, inconsistent billing practices, and poor cloud architecture, the need for effective financial management is more critical than ever. Gartner’s 2021 report highlighted that “cloud waste” cost businesses approximately $26.6 billion. As cloud services continue to grow rapidly—Gartner predicts a 20% increase in global public cloud services—companies are struggling to control and optimize their cloud expenditures.
Key offerings by UXL System in FinOps:
Our FinOps Services help businesses gain visibility into their IT expenses, ensuring a clear understanding of where money is being spent and identifying opportunities for cost optimization. On average, our clients see a 10% to 20% reduction in spend through targeted financial consulting and optimization strategies.
Automation
Uses AI and automation to track, forecast, and control costs
Collaboration
Aligns finance, engineering, and operations teams to optimize cloud costs.
Visibility
Provides real-time insights into cloud spending.
Optimization
Ensures cost-efficient cloud usage through rightsizing and automation.
Accountability
Encourages teams to take ownership of their cloud expenses.
Improvement
Encourages ongoing cost analysis and optimizations.
Key Benifits:
- Reduce cloud usage and costs
- Improve observability of software and services
- Better align cloud usage & costs with business goals
- Drive cost-based decision making for cloud usage
- Enable cost-effective service improvements
- Identify & reduce wasted cloud resources and services