FinOps (Financial Operations) is a data-driven methodology that helps organizations gain control over their cloud expenses and align them optimally with their business objectives. FinOps combines financial accountability with operational and technological efficiency, enabling companies not only to save costs but also to derive more value from their cloud investments.
What is FinOps?
What is FinOps?
Cloud cost management
The FinOps Methodology and Framework
The FinOps methodology was developed by the FinOps Foundation and follows a continuous improvement process consisting of three phases:
- Inform – Gaining insight into cloud expenses through detailed reports and real-time monitoring.
- Optimize – Identifying cost-saving opportunities, such as right-sizing, reservations, and optimized resource usage.
- Operate – Implementing FinOps as an ongoing process within teams, with clear governance and cost awareness.
The FinOps Framework provides a structured approach for organizations to effectively manage and optimize cloud costs. It includes best practices, roles and responsibilities, tools, and reporting methods.
The 6 core principles of FinOps
The FinOps Foundation defines six core principles that form the foundation of a successful FinOps strategy:
- Teams collaborate – FinOps unites finance, engineering, and business teams to view cloud cost management as a shared responsibility.
- Everyone takes ownership of their cloud usage – Teams receive the right insights to optimize their own costs and take accountability.
- A central team drives FinOps best practices – A dedicated FinOps team supports and guides the organization in cost management and optimization.
- Decisions are driven by data – Real-time insights and advanced analytics enable data-driven financial decision-making.
- The speed of the cloud must be maintained – Cost optimization should not hinder innovation and flexibility.
- FinOps is a continuous process of optimization – FinOps is not a one-time effort but an iterative process of ongoing cost management improvements.
FinOps is not a one-time solution but a continuous process that helps organizations control their cloud costs and maximize the value of their investments. It represents a cultural shift that emphasizes collaboration and accountability, aiming to use the cloud as a driver for innovation and growth without unnecessary spending.
This is what Thornstein Group can do for you
With the increasing complexity and scalability of cloud environments, FinOps is essential for maintaining financial control without losing the benefits of cloud technology. We help organizations implement FinOps strategies and maximize cloud value.
Want to learn more? Check out our options for a FinOps quick scan, Managed FinOps – Azure services, or FinOps training. Or feel free to contact us for an introductory conversation—no obligation!
Contact us!
If you are interested in our services or would like to schedule an exploratory meeting, you can contact Thornstein Groep directly.
Thornstein Groep
As one of the largest independent IT sourcing consultancies in the Netherlands, Thornstein Group has been advising its clients very successfully for almost two decades. Thornstein Group specialises in cloud & outsourcing contracts, software licences, compliancy claims and achieving cost reductions on IT contracts.
