AliCloud stopping FinOps Purchases, FinOps Paradox & FinOps Nexus
Welcome to this week's edition of the FinOps Weekly Newsletter.
The most relevant articles, videos, and posts in FinOps are to be digested in less than 5 minutes.
Index of Contents
📰 Articles
Alibaba Cloud Update: Alibaba Cloud, a subsidiary of BABA-SW (09988.HK), will cease new purchases of its Multi-Cloud FinOps products on 15 June 2024.
Service Continuation: Existing purchased products and services will remain usable until their service expiration, and after-sales service will be provided.
The Paradox: Despite widespread adoption, the impact of FinOps is elusive. Not all firms practice it sufficiently, and it’s still proving its value.
AI and FinOps: The integration of AI-native application artifacts and Infrastructure-as-Code (IaC) templates is crucial for managing costs associated with new AI initiatives.
Proactive Cost Management: Traditional KPIs are outdated. Real-time cost management and collaboration across teams are essential for effective cloud investment and cost control.
Sticker Shock: Agencies face unexpectedly high cloud bills.
FinOps Practice: Aligns business goals with cloud financial management.
Budgeting Evolution: Traditional processes inadequate for dynamic cloud costs.
Collaborative Approach: Essential for controlling and optimizing cloud spending.
DIY FinOps Trend: The article discusses the growing trend of Do-It-Yourself (DIY) solutions in FinOps, challenging traditional pre-built cloud cost management tools.
Customization & Cost: DIY solutions offer customization and can be more cost-effective but require skilled teams and ongoing maintenance.
Hybrid Model: A hybrid approach, using native tools with custom functionalities, may balance cost-effectiveness and customization needs.
Considerations: Organizations should carefully evaluate their technical expertise, cloud spending, and resource availability before choosing between DIY, pre-built, or hybrid solutions.
FinOps Success Story: A recent FinOps initiative at BBVA led to significant cost savings by optimizing AWS Cloud usage.
Collaborative Effort: The Data Architecture and Security teams collaborated to identify and resolve cost spikes in EventBridge usage.
Architectural Change: A security architecture adjustment resulted in a 95% reduction in EventBridge costs without compromising security.
Core Principles: This case exemplifies core FinOps principles of collaboration, ownership, and data-driven decision-making.
📽️ Videos & Podcasts
🎖️ Mention of Honor
FinOps Nexus Podcast & Community Announcement
FinOps Nexus Podcast: Short interviews with Top professionals in the FinOps sector debating a specific topic.
Community: A central hub to help those looking for FinOps community events, solutions, and education, that is 100% dedicated to the community.
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That’s all for this week.
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