Wasted Cloud Spend
Organizations often focus on cost optimization and efficiency during economic uncertainty or downturns to ensure financial sustainability. Couple that with the current inefficiencies inmost cloud deployments, and it's easy to see why FinOps is a hot topic. The2023 edition of the Flexera State of the Cloud Report stated that 28% of cloud spend is wasted, representing a total of $166 billion in wasted annual cloud spend. Identifying wasted cloud spend is a common challenge for many companies.
The FinOps (Financial Operations) framework was created to address the challenges that arise with the adoption of cloud computing, particularly the pay-as-you-go model and the need for cost optimization. The FinOps framework systematically optimizes cloud costs, ensuring that resources are allocated efficiently and cost-effectively.
The FinOps framework is a set of practices and principles designed to align financial management with cloud operations. It optimizes cloud costs, improves financial visibility, and fosters collaboration between finance, IT, and business teams. The FinOps framework helps organizations effectively manage their cloud spending, drive cost efficiency, and maximize the value of their cloud investments.
Cloud Cost Optimization
Allata has created a set of service offerings that combine the robust foundation of the FinOps framework with our cloud partners' best practices and cutting-edge technology. Our goal is to optimize your cloud spend by addressing the people and process aspects ofFinOps and the technology challenges of cloud cost optimization.
Our FinOps services go beyond the FinOps framework to address technical challenges, including tool strategy, application refactoring, modernization, and containerization, to maximize your cost savings and operational efficiency. By leveraging our expertise in these areas, we ensure that your cloud infrastructure and applications are finely tuned to meet your business needs while minimizing unnecessary expenses.
At Allata, we understand that achieving cloud cost optimization requires a comprehensive approach. That's why our service offerings encompass the full spectrum of FinOps and technical strategies tailored to your unique requirements. By partnering with us, you can take full advantage of the FinOps foundation framework while addressing technical application challenges and unleashing your cloud investments' true potential.