The term FinOps (Financial Operations) is particularly at home in the areas of digital transformation, big data and smart data as well as eCommerce and digital commerce. It describes a modern approach to how companies can better manage and optimise their costs and expenditure for digital services - especially for the cloud.
Instead of just IT or accounting being responsible for expenditure, several departments work together at FinOps: IT, purchasing and finance exchange information in order to save money together and utilise resources more efficiently. This is particularly important for companies that process a lot of data or offer their products and services online and purchase flexible computing power from the cloud for this purpose.
An illustrative example: an online shop uses large amounts of storage space in the cloud every day. With FinOps, those responsible can keep an eye on exactly how much they are paying for storage, where they can make savings and which subscriptions may be superfluous. This not only improves the quality of the offering, but also keeps costs under control. In short: FinOps helps companies to get the best out of their digital infrastructure and make costs transparent.
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