With the accelerated rise in cloud adoption over the past few years and economic uncertainty putting an emphasis on getting the most out of cloud spend, organizations are moving towards new priorities. In fact, for the first time in a decade, managing cloud spend has surpassed security as the number one challenge faced by organizations in Flexera’s 2023 State of the Cloud report.
To address this, FinOps is being adopted at a rapid pace to get a handle on investments. With the evolution of cloud financial management toward a cultural practice that enables maximum business value, the FinOps framework and principles are driving organizations toward sound decision making more than ever. That maturity—through inform, optimize and operate—requires cross-collaboration with counterparts in ITAM, infrastructure and operations, and others for organizational alignment toward real-time optimization of cloud resources.
Flexera is proud to announce Flexera One FinOps, an industry-first solution that strengthens an enterprise’s FinOps and cloud central teams, while enhancing the convergence of ITAM and FinOps. Flexera One FIn Ops empowers enterprises to significantly improve how they visualize and allocate cloud usage and billing, efficiently manage hybrid IT estates and operate cloud at scale.
Available as a standalone solution or as a part of the broader Flexera One platform, Flexera One FinOps builds on existing Flexera Cloud Cost Optimization technology. Forrester Research positioned Flexera One Cloud Cost Optimization as a leader in The Forrester Wave™: Cloud Cost Management and Optimization, Q3 2022. In this report, Flexera received the top score in the current offering category. In addition, Flexera had the highest possible scores in product vision, access and permissions, resource discovery and cloud platform support, billing, cloud visibility, cost optimization, partner ecosystem and commercial model criteria.
Flexera One FinOps goes a step further, helping users stay informed about areas of potential savings, optimizing their investments and operating efficiently by automating and governing processes across a hybrid IT estate.
Comprehensive packages combines FinOps and ITAM techniques to manage hybrid IT estates
Flexera One FinOps solutions are available with multiple configurations to fit each organization’s needs and support them throughout the entirety of their FinOps journeys, whatever their level of FinOps maturity.
Here’s what J.R. Storment, Executive Director of the FinOps Foundation, said about the importance of FinOps practices and solutions in 2023:
"In the 2023 State of FinOps, we found that 'Empowering Engineers to Take Action' and 'Getting to Unit Economics' are the top challenges for organizations in 2023. Understanding how to communicate both the cost and value of everything an organization is doing in the cloud, as defined and measurable for a product or service, is essential to success. 'Reducing Waste' (a challenge that increased 30% since 2022), and 'Organizational Adoption of FinOps' are also recurrent top challenges for practitioners. More than ever, building programs, cultures and implementing solutions that can tie together visibility and allocation of cloud usage and billing (alongside efficient management of hybrid IT estate) will be essential to the success of the technology organization."
To learn more, visit https://www.flexera.com/flexera-one/finops.