Optimizing FinOps Practices with Azure Cost Management and Billing Tools

Authors: Parag Bhardwaj

DOI: https://doi.org/10.5281/zenodo.14593130

Short DOI: https://doi.org/g8xmt5

Country: USA

Full-text Research PDF File:   View   |   Download

Abstract: In the modern digital landscape, cloud computing has become integral to business operations, offering unparalleled scalability, flexibility, and efficiency. However, managing and optimizing cloud costs remains a complex challenge. Financial Operations (FinOps) practices, combined with Microsoft Azure's Cost Management and Billing tools, provide a strategic approach to effectively address these challenges. FinOps bridges the gap between finance, operations, and engineering teams, fostering a culture of accountability and transparency around cloud spending. It emphasizes collaboration, real-time visibility, continuous optimization, and governance to manage cloud costs effectively. Azure Cost Management and Billing tools enhance these practices by offering detailed cost analysis, budgeting, forecasting, cost allocation, and savings recommendations. These tools enable organizations to monitor cloud spending in real-time, set budgets, receive alerts, and allocate costs accurately across departments. Furthermore, Azure's automated savings recommendations help identify cost-saving opportunities, such as rightsizing resources and leveraging discounts. By integrating FinOps practices with Azure's robust cost management tools, organizations can achieve significant cost savings, enhance financial discipline, and optimize cloud resource utilization. This integrated approach not only controls costs but also drives financial efficiency and supports strategic decision-making, ensuring that businesses maximize the value of their cloud investments in a competitive environment.

Keywords: -

Paper Id: 231948

Published On: 2021-05-05

Published In: Volume 9, Issue 3, May-June 2021

Cite This: Optimizing FinOps Practices with Azure Cost Management and Billing Tools - Parag Bhardwaj - IJIRMPS Volume 9, Issue 3, May-June 2021. DOI 10.5281/zenodo.14593130

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