IGC's, Cloudonomics is a serverless technology to deliver the promise of multi cloud cost management by providing real time visibility and deep insights to help manage and optimize cloud spending in an agnostic manager. IGC's Cloudonomics platform-based services enables IT and Finance teams to manage and govern heir cloud ecosystem cost effectively and with confidence as infrastructure scales up with business growth. FinOps is the practice of bringing financial accountability to the variable spend model of cloud, enabling distributed teams to make business trade-offs between speed, cost, and quality.
By analyzing historical data, managing expenses, optimizing resources towards establishing cost governance across the cloud infrastructure, FinOps delivers visibility, control business aligned efficiency across your cloud environments.
Key Features
Cost Explorer, to provide complete visibility of Cloud costs
Policies and Governance Tool to automate & regulate the FinOps processes
Comprehensive reporting to provide real time cost insights
Intelligent alerting for proactive cost monitoring and anomaly detection
Cost recommendations that can be auto enforced or provided to the teams to take timely costs saving decisions
Professional Services:
- FinOps consulting
- Spend analysis
- Custom reporting
- FinOps implementation
Cloudonomics Framework - FinOps
FinOps from Linux foundation is the operating model for the cloud – combining systems, best practices, and culture to increase an organization’s ability to understand cloud costs. It is the practice of bringing financial accountability to cloud spend – enabling global teams to make informed business decisions. FinOps empowers collaboration between IT, Engineering, Finance, Procurement, and the business. It enables IT to develop into a service organization that focuses on adding value to the business with cloud technology.
Cloudonomics FinOps model- 3 phase Iterative models establish baselines, optimize rates and usage patterns and drive operations to the right balance of cost efficiency and business value.
Track & Report
- Dashboards & Reporting
- Direct Chargeback
- Anomaly Alerts
- Budgets & Forecasting
Act & Optimize
- Terminate Idle Resources
- Schedule Server run times
- Right size Resources based on utilisation
- Use Serverless technologies
Recommend & Improve
- Continuous Imporovement
- Align with Finance and Line of Business
- Evaluate the value to the business
Cloudonomics offers the following value, benefits
- Cost Visibility: FinOps tools provide detailed insights into cloud spending, helping teams understand where money is being spent across different services and departments.
- Resource Optimization: By identifying underutilized resources, FinOps tools help organizations eliminate waste and optimize resource allocation, leading to significant cost savings.
- Automated Reporting: Many FinOps tools offer automated reporting features, which reduce manual work and allow teams to focus on strategic financial planning.
- Budgeting and Forecasting: These tools enable accurate budgeting and forecasting by analyzing past spending patterns, which helps in setting realistic financial goals.
- Collaboration Between Teams: FinOps fosters collaboration between finance, engineering, and operations teams, ensuring everyone is aligned on cloud spending and usage.
- Compliance and Governance: FinOps tools help enforce financial governance and compliance policies, ensuring that spending aligns with organizational policies.
- Real-time Monitoring: With real-time monitoring capabilities, organizations can quickly respond to unexpected cost spikes or anomalies.
- Enhanced Decision-Making: By providing actionable insights, FinOps tools support informed decision-making regarding cloud investments and usage.
- Cost Allocation: They facilitate better cost allocation to specific projects or teams, making it easier to hold departments accountable for their spending.