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 /  Craig Slack

Success Stories: How Organizations are Saving with FinOps

In our previous blog posts, we discussed the fundamentals of FinOps and the FinOps maturity model. In this post, we will share real-world examples of how Invero’s own clients have successfully implemented FinOps practices to achieve significant cost savings and improve efficiency.

Example 1: Small IT Team with Stable Azure Environment

A small organization with a stable Azure environment faced challenges in managing their cloud costs due to a lack of visibility and understanding. By implementing FinOps practices, they achieved a 20% cost reduction and improved reporting for better budgeting and procurement. The organization focused on optimizing virtual machines, cleaning up orphan objects, and leveraging cost-saving programs like reservations and savings plans.

Example 2: Medium-Sized Organization with Governance Issues

A larger organization referred to their Azure environment as the “Wild Wild West” due to a lack of governance and control. Through a cost optimization assessment and improved governance, they saved 14% on their Azure costs and funded further FinOps initiatives. The organization implemented policies and practices to manage cloud spending, set up guardrails and alerts, and established a FinOps team to drive accountability.

Example 3: Large Organization with Mature FinOps Practices

A large organization with a mature FinOps practice saved over $1 million annually through cost optimization programs. Even though they had established and relatively mature FinOps practices, Invero was still able to help them achieve greater savings by focusing on improving internal processes and driving cultural change to achieve continuous improvement. The organization implemented advanced cost optimization techniques, such as optimizing virtual machines, cleaning up orphan objects, and leveraging cost-saving programs like reservations and savings plans.

Key Takeaways

  • Visibility: Gaining visibility into cloud costs and usage is essential for identifying cost-saving opportunities. Organizations should track their cloud spending, analyze usage patterns, and use tools like Azure Cost Management and Azure Advisor to gain insights.
  • Optimization: Implementing cost-saving opportunities is crucial for achieving greater business value from cloud spend. Organizations should focus on optimizing virtual machines, cleaning up orphan objects, and leveraging cost-saving programs like reservations and savings plans.
  • Governance: Establishing policies and practices to manage cloud spending is important for ensuring accountability and driving business value. Organizations should set up guardrails and alerts, implement budgeting mechanisms, and establish a FinOps team to drive accountability.
  • Continuous Improvement: Regular assessments and continuous improvement are essential for maintaining mature FinOps practices. Organizations should regularly assess their FinOps maturity, track progress, and make adjustments as needed.

These success stories demonstrate the value of implementing FinOps practices. By gaining visibility into cloud costs, optimizing resources, and establishing governance practices, organizations can achieve significant cost savings and improve efficiency. In our upcoming blog post in this series on FinOps, we will provide guidance on how organizations can get started with their FinOps journey.

For years now, Invero has made its mission to help clients maximize the value of their investments in cloud because we are firm believers in the benefits that the cloud can bring to organizations of all sizes. FinOps is core to achieving this mission because without proper governance around cloud spend and tying that back to the business value that each dollar spent is driving, then there is a high risk of wasting money or not achieving optimal return on investment.

Many organizations that we work with struggle to know where to start, which is why we developed FinOps Ready™. This is our solution to help you develop a roadmap for maturing your FinOps practice based on your unique needs, it’s not a one-size fits all or cookie cutter plan. Learn more and get started for FREE on your own today, or contact us to get help from our experts.