The tech industry is always coming up with new team names by combining different disciplines, such as DevOps, DevSecOps, AIOps, or most recently, NoOps. At first glance, these names might not seem appealing. However, when their associated practices are followed correctly, they can be transformative. They force collaboration early and often – which helps companies improve velocity and foresee potential risks before disasters occur. The latest addition to many companies is the hybrid department of FinOps, which combines finance and operations. This strategic move has already been shown to be incredibly impactful by those who have experienced it firsthand.

1. The FinOps Chronicles
FinOps Overview
The tech industry is always coming up with new team names by combining different
disciplines, such as DevOps, DevSecOps, AIOps, or most recently, NoOps. At first glance,
these names might not seem appealing. However, when their associated practices are followed
correctly, they can be transformative. They force collaboration early and often – which helps
companies improve velocity and foresee potential risks before disasters occur.
The latest addition to many companies is the hybrid department of FinOps, which combines
finance and operations. This strategic move has already been shown to be incredibly
impactful by those who have experienced it firsthand.
What is FinOps?

2. FinOps is a public cloud management discipline that enables organizations to get maximum
business value from cloud by helping technology, finance, and business teams to collaborate
on data-driven spending decisions.” – Intel
FinOps is a public cloud management discipline that enables organizations to get maximum
business value from cloud by helping technology, finance, and business teams to collaborate
on data-driven spending decisions. By collaborating, these teams are able to make decisions
that result in the best possible outcomes for the company as a whole.
FinOps engineers play a significant role in quantifying financial products and services, by
developing mathematical models and analytical pricing systems. They are involved in
building intelligent systems that understand, analyze and predict market movements, as well
as providing real-time advice to investors and financial institutions.
FinOps is the term used to describe the various methods used to manage an organization’s
Cloud spending. It’s important to have different levels within your organization (such as
developers, architects, and executives) because each level has different requirements.
However, the goal of FinOps is to create a common language that can be used by all members
of the organization so that everyone can communicate effectively.
According to the FinOps Foundation Community, “FinOps is an evolving cloud financial
management discipline and cultural practice that enables organizations to get maximum
business value by helping engineering, finance, technology and business teams to collaborate
on data-driven spending decisions.” – Finops.org
The FinOps Foundation and the ‘Cloud FinOps’ book quickly dispel the myth that:
“If it seems that FinOps is about saving money, then think again. FinOps is about making
money“
If you’re an engineer, it’s easiest to think about FinOps from your perspective. This
AWS blog post describes FinOps from the engineer’s perspective:
“FinOps is the idea of combining financial accountability with autonomous team delivery.
Delivery teams can be made responsible not just for delivering code, operating the code,

3. securing the code, and making sure that the code accomplishes its objectives, but also for
managing its costs, both fixed and variable. – aws.amazon.com
The goal is to “change the team’s delivery process to include consideration of costs”. This
means that we need to think about every aspect of our project from start to finish and
determine how much it will cost to complete each task. By doing this, we can save money and
time in the long run.
As FinOps becomes more and more demanding on delivery teams, it’s important for
organizations to invest in solutions and support that will enable those teams to act
autonomously. This might mean investing in FinOps-specific tools or providing dedicated
resources to help with tasks like planning and forecasting. By doing this, organizations can
help their teams to be more effective and efficient in their work and ultimately help to
improve the bottom line.
FinOps is also known as Cloud Financial Management, Cloud Financial Engineering, Cloud
Cost Management, Cloud Optimization, and Cloud Financial Optimization.
According to the FinOps Foundation, there are three phases to ensure the success of
financial operations within a company: Inform, Optimize, and Operate.
Phases of FinOps

4. ꢀ Inform
The first stage, Inform, is all about making sure that everyone who needs access to
information has it. This includes allocating costs and transforming them into metrics and
dimensions that will make sense to the business.
ꢀ Optimize
Optimize is the next phase and it’s focused on reducing cloud costs. This can be done by
utilizing financial levers or by enabling engineering to create more cost-effective
infrastructure
ꢀ Operate
Operate is the last stage and it’s concerned with the processes that support these practices and
help scale the effort. These processes are essential for a company to run smoothly and
efficiently.
How Do FinOps and DevOps Compare?

5. DevOps is a combination of Development and Operations, two areas of work that are melded
together to create a more efficient process of delivering software to marketplaces. The term
“DevOps” is used to reference a set of practices, tools, and principles that when used together
can help decrease the number of disruptions and allow for quicker software delivery.
Automation is a key component of DevOps as well as breaking down the barriers that separate
teams (silos), working collaboratively, and “shifting left” which is when companies
proactively work to identify potential issues with software and address them early on in the
process.
Like DevOps culture and practices, FinOps is a transformation of culture and practices,
supported by new kinds of tools. It starts with collaboration between teams and breaking
down silos. The outcomes – like improved communication and collaboration – are similar.
However, the responsibilities associated with FinOps are quite different.
Whereas DevOps is all about software development, FinOps focuses on cost management and
optimization. Engineering and finance collaborate to ensure there is sufficient visibility into
the cost to drive better decisions throughout the company. By doing so, they can help to avoid
overspending and improve the financial health of the business overall.
At some companies, there is a dedicated financial operations (FinOps) team to handle these
responsibilities. However, at others, these responsibilities are shared among members of other
engineering teams, such as DevOps or infrastructure engineering. Additionally, some finance
teams also have subsets that handle these duties, such as financial planning and analysis.
The goal of FinOps is to provide various stakeholders with the visibility and cost
understanding they need to drive better outcomes for the business. The result of FinOps can
be savings, but it doesn’t always have to be. In fact, in many cases, FinOps may drive more

6. spending or a strategic decision to make cost a secondary priority after something like the
speed of delivery. As the FinOps Foundation puts it, “FinOps is about making money.”
How FinOps Benefits the Businesses
When organizations move from on-premise infrastructure to the Cloud, they often find that
their existing financial controls are no longer effective.
With the adoption of the, ‘you build it, you run it, you own it’ product team model, it’s
essential to provide the right support if you want them to be empowered to make sound
financial decisions regarding their products’ use of cloud services. In a large organization,
there can be hundreds of these product teams, so a scalable FinOps system is needed to meet
their needs.
Further Readings : Applications of Cloud Computing
Top FinOps Tools
There are several tools available to support your FinOps initiatives. Here are a few worth
highlighting:
ꢀ AWS Cost Explorer: This tool provides interactive visualizations of your AWS costs
and usage.
ꢀ Azure Portal: The Azure portal provides an overview of your Azure resources and
usage.
ꢀ Google Cloud Platform Console: The Google Cloud Platform Console provides an
overview of your Google Cloud resources and usage.
ꢀ ProsperOps: ProsperOps is focused on Savings Plans and Reserved Instances (RIs).
They use algorithms, advanced techniques, and continuous execution to help you save

7. money on your RIs and Savings Plans. One of the benefits of ProsperOps is that they
only charge you for savings — not for a percentage of your spending like other tools.
ꢀ CloudZero: CloudZero provides a service that helps you to understand your cloud
costs by translating them into a language that is more understandable for your
financial stakeholders. With this information, you can make more informed decisions
about business metrics that are relevant to your company, like the cost per product
feature or customers, unit cost, and so on.
Embracing FinOps: Benefits
There are several benefits that an organization can reap by following FinOps best practices,
including:
ꢀ Gaining visibility into cloud usage and costs, which provides better control over
spending.
ꢀ Assisting cross-functional teams in maintaining financial accountability for the cloud
services they use. This drives better decision making when it comes to budget and
optimization opportunities.
ꢀ Automating tasks related to fulfillment requests and data management, reduces the
risk of human error and speeds up processes.
ꢀ Organizational alignment on cloud spending between different departments and teams.
This fosters transparency and communication on budgeting decisions.
Adoption of Finops Services in Nepal
There is a huge scope for finops in nepal. In the past year, there has been a tremendous
demand for aws specialists in nepal because of the high number of aws projects in nepal. The
market ofaws is growing, and there is no reason why you should miss the opportunity.
FinOps is a new, very young service that is being offered in the cloud. It is not very popular in
Nepal, but big companies are starting to get their feet wet and it is picking up. The best thing
that the cloud brings to companies is the ability to scale quickly. In the case of FinOps, you
can spin up a cloud server, a database, and an application, and get it all up and integrated in a
few hours, instead of days/weeks as it would be with traditional infrastructure. So you can
adapt better to changing market conditions, and quickly absorb new staff.
Further Readings: IT Outsourcing