Cloud Financial Management capability
The Cloud Financial Management capability provides the ability to manage and optimize your expense for cloud services. This capability enables you to track, notify, and apply cost optimization techniques across your environment and resources. Expense information is centrally managed and consumed, and access to critical stakeholders can be provided for targeted visibility and decision making.
Stakeholders:
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Finance (Primary)
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Central IT
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Operations
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Software Engineering
Personas:
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Finance Team - the team involved in defining and approving cloud budgeting and forecasts, business case development for new workload migrations, defining a cost allocation mechanism (including accounting treatment for cloud spend), analyzing cloud spend for insights, performing variance analysis, participating in developing a tagging dictionary, and integrating existing finance processes (accounts payable and procurement) with cloud billing and procurement.
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CFM/FinOps Team - single-threaded owner (individual, or team) that defines and oversees the programmatic implementation of the Cloud Financial Management uses case.
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Software Development Team - the team that builds cloud-based software that is cost-aware, applies changes to software that reduces cloud waste, provides inputs to an organization’s commitment-purchase process to improve the accuracy of commitments being purchased, participates in the cost forecasting process for existing and new cloud products, and participates in variance analysis and root cause identification for unexpected/anomalous cloud costs.
Scenarios:
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CF16 - S1: Cost allocation
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CF16 - S2: Cost forecasting
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CF16 - S3: Cost monitoring
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CF16 - S4: Cost optimization
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CF16 - S5: Financial operations
Topics
