Developing a FinOps Maturity Model for Enterprise Cloud Management

Authors: Parag Bhardwaj

DOI: https://doi.org/10.5281/zenodo.14837242

Short DOI: https://doi.org/g84fgx

Country: USA

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Abstract: Cloud computing has revolutionized the IT landscape, offering unparalleled scalability and agility. However, the associated costs can quickly spiral out of control if not managed effectively. FinOps, a framework that brings together finance, technology, and business teams to make informed decisions about cloud spending, has emerged as a critical practice for enterprises. This research paper proposes a comprehensive FinOps maturity model to guide organizations in their journey towards optimizing cloud costs and maximizing the return on their cloud investments. The FinOps Maturity Model serves as a valuable framework for enterprises to assess their current cloud financial management capabilities, identify areas for improvement, and drive continuous enhancement. By categorizing maturity into stages such as "Crawl," "Walk," and "Run," the model offers a clear roadmap for organizations to progress through different levels of maturity. It emphasizes the importance of cost visibility, cost allocation, optimization practices, and cultural alignment in achieving financial efficiency and maximizing the value of cloud investments. As organizations implement and refine their FinOps practices, they can achieve greater financial control, reduce unnecessary expenses, and align cloud spending with business objectives. The integration of FinOps into business processes and decision-making ensures that financial management is not an isolated activity but a core component of the organization's operations and strategic planning. Through continuous assessment, improvement, and collaboration, enterprises can navigate the financial complexities of cloud computing and drive innovation and competitiveness in the market.

Keywords: -

Paper Id: 232063

Published On: 2024-09-10

Published In: Volume 12, Issue 5, September-October 2024

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