Finops Practice Accelerating Innovation on Public Cloud

Abstract

FinOps, or financial operations, is a strategic approach to managing cloud expenditures and facilitating collaboration across IT, finance, and business teams to optimize public cloud usage and drive business innovation. The need for effective cloud cost management has become paramount as organizations increasingly migrate to public cloud platforms. Traditional cost-management tools often fail to address the complex financial implications of cloud resources. FinOps fills this gap by offering a comprehensive cross-functional methodology that ensures long-term financial accountability and fosters innovation. This study explores the role of FinOps in accelerating technological advancement and business growth by optimizing cloud expenditure. It examines key cloud cost management tools and frameworks, such as AWS cost explorers, azure cost management, and Google Cloud's Billing Reports, highlighting their contributions to improving financial transparency. The study also discusses the collaboration between public cloud providers, systems integrators (SIs), and independent software vendors (ISVs) in developing tailored FinOps solutions. This study demonstrates how adopting FinOps practices not only improves cost efficiency, but also supports organizational agility, enabling companies to better align cloud investments with business outcomes.