The only FinOps platform you'll ever need: Finout

Finout's holistic cloud cost management solution helps FinOps, DevOps, and Finance to manage & reduce cloud spend and improve the company profitability without adding code. MegaBill just upped its game with new saved views and predefined views designed for FinOps, saving teams time by showing them exactly what they need on the home screen. Managing cloud spend across multiple providers, services, and CDNs can be challenging because it requires a high level of visibility and control over all of the different costs associated with them. This can include costs for Compute, storage, networking, and additional services, as well as costs for usage, data transfer, and other charges.

In another aspect, this data can be difficult to collect, process, and analyze, which can make it difficult to identify patterns or trends in your cloud spend.

The FinOps challenge; Accountability and Collaboration 

Managing such complex spend can also be difficult because it requires coordination and collaboration between different teams within an organization, such as IT, finance, and operations. This can be challenging because different teams may have different priorities, goals, and levels of expertise when it comes to managing cloud spend.

Seeing all of your cloud spend in one dashboard is an essential aspect of FinOps. One of the key principles of FinOps is cost management, which involves identifying, tracking, and optimizing cloud spend. 

Finout's solution: The MegaBill

Having a centralized view of your cloud spend in one dashboard, what Finout calls a MegaBill, allow you to easily identify areas where you can reduce costs and make more informed decisions about how to allocate your cloud budget.

This aligns with the FinOps principle of financial governance, which focuses on aligning IT and finance teams to improve the visibility, accountability and control of cloud costs. 

Additionally, by having a clear view of your cloud spend over time, you can identify trends and continuously optimize your cloud usage to reduce costs and better align with your business goals. This aligns with the principle of continuous optimization, which is the ongoing process of identifying, implementing and measuring cost-saving opportunities and improvements.

Use cases:

• See your multi-tenant environment spend in one place
• Understand cost anomalies at any granularity, down to the resource level.
• See coverage alongside spend to better understand your RIs usage.
• See cloud services spend such as Datadog, Databricks, MongoDB and CircleCI right beside your providers and K8s.

The Power of Proprietary FinOps Solutions

While free or native tools can provide basic cost monitoring and insights, there are several compelling reasons why FinOps solutions like Finout should be preferred for more advanced and effective cost optimization. Such as:

Comprehensive Feature Set: FinOps solutions often offer you a wide range of advanced features specifically designed for cost optimization. These features go beyond what is available in free or native tools, enabling you to implement sophisticated cost-saving strategies. Examples include automated rightsizing, intelligent instance scheduling, anomaly detection, and detailed cost allocation.

Granular Insights: Cloud cost optimization solutions provide detailed analysis and insights into cost drivers. This allows you to identify opportunities to optimize their cloud costs at the resource, tag, or service level. These solutions also offer actionable recommendations to reduce costs based on historical usage patterns, industry benchmarks, and machine learning algorithms.

Customization and Flexibility: You can customize your cloud cost optimization workflows to meet your specific needs and priorities. This level of customization is not always possible with free or native tools.

Automation and Efficiency: FinOps solutions excel in automating cost optimization tasks, streamlining workflows, and enabling proactive cost management. They offer scheduled actions, dynamic resource resizing, automated instance scheduling, and intelligent workload balancing, allowing you to achieve significant cost savings while minimizing manual effort.

Enhanced Support and Expertise: FinOps solutions can also provide you with dedicated support, expertise, and guidance. These vendors have specialized teams with deep knowledge of AWS cost optimization and can offer personalized assistance, best practices, and ongoing support in implementing and fine-tuning cost optimization strategies.

Conclusion

In conclusion, as businesses continue to embrace the flexibility and scalability of AWS, cost optimization becomes a critical component of their cloud strategy. While open-source tools provide a starting point, their limitations prevent them from effectively addressing the complexities of cost management in large-scale production environments. By adopting a FinOps proprietary solution, you can unlock the full potential of AWS cost optimization.

By using real-time threshold-based alerts, you are immediately notified on Slack or Email of any budgeting issues that might require your attention, allowing you to take action quickly.

In other words, for the first time ever, any company can have a single, cloud-agnostic budgeting and forecasting solution across not only cloud providers such as AWS and Azure – but also Kubernetes, Snowflake, CirclCI, Databricks, Datadog, Kubernetes, MongoDB, and other 3rd party services. This helps Finance, FinOps, and DevOps know if they are aligned with the company budget, including next month's forecasting, without adding code or an agent.

The Benefits of Finout’s Budgeting and Forecasting Solution

Cost control- Finout's budgeting and forecasting solution helps control cloud costs by identifying overspending, optimizing usage, and reducing overall costs.

Resource optimization- The solution analyzes usage data and forecasts to optimize resource allocation, improve cloud efficiency, and avoid unnecessary expenses. 

Informed decision-making- Finout's budgeting and forecasting solution provides a better understanding of cloud costs and usage patterns, enabling informed decisions on service, pricing models, and scaling.

Predictable expenses- Finout's solution forecasts cloud expenses to help plan budgets, avoid unexpected expenses, and manage cash flow effectively.

Cost transparency- The solution provides a clear view of cloud costs, identifying departments, teams, or projects driving costs, and promoting a cost-aware and accountable FinOps culture.

Roi Ravhon, Co-Founder & CEO

“With just 5 minutes of integration, you can manage, allocate costs, showback, and reduce waste across all cloud providers and services without adding code or changing tags.”