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As organizations increasingly rely on cloud computing, there is a growing need for effective cost management and expense optimization related to cloud services. Enter FinOps (short for Financial Operations) - a field that is transforming the way we manage these costs.
In this article, I will attempt to shed light on this fascinating field: starting from its fundamentals and through implementation goals, all the way to the ultimate benefits for individual users. I will discuss the key advantages of implementing FinOps practices in an organization that leverages cloud computing. By reading this article, you will gain a better understanding of why FinOps is crucial for your company's success.
Overview of FinOps
Cloud-related expenses are exceptionally flexible. You are no longer obliged to make significant upfront capital expenditures (CapEx) for purchasing and maintaining your own IT infrastructure.