FinOps Foundation to Become Linux Foundation Effort
DevOps in the cloud has broken traditional procurement, which is now outsourced to engineers. Engineers spend company money at will and make financial decisions on cloud providers like AWS, GCP and Azure at rapid speed with little time to consider cost efficiency. Finance teams struggle to understand what is being spent on the cloud. Leadership doesn’t have enough input into how much will be spent or ability to influence priorities. Enter the concept of FinOps, and the need for a community of practitioners to advance best practices beyond vendor tooling, whose aim is to increase the business value of cloud by bringing together technology, business and finance professionals with a new set of processes.
That’s why we’re so excited to announce our intent to host the FinOps Foundation with the Linux Foundation to advance the discipline of Cloud Financial Management through best practices, education and standards. The FinOps Foundation focuses on codifying and promoting cloud financial management best practices and standards to help the community. It currently includes 1,500 individual members representing more than 500 companies and $1B in revenue. They include Atlassian, Autodesk, Bill.com, HERE Technologies, Just Eat, Nationwide, Neustar, Nike, and Spotify among founding charter members.
Also part of today’s announcement is a new edX course, Intro to FinOps, which will give anyone interested in this area a primer on what it is and how to advance their career by becoming an expert in this emerging and critical discipline.
As the cloud native movement continues within organizations, understanding how to optimize the cloud infrastructure footprint through cultural change and engineering practices is critical. Technology and business leaders are seeking support for understanding how to manage cloud technologies and spending across their enterprises. The FinOps Foundation brings to bear the resources required to enable innovation inside the organization and will work together to define cloud financial management standards and advance the ubiquity of this discipline across industries.
The FinOps Foundation has grown significantly since its inception back in February 2019. We expect to support this burgeoning community and further accelerate growth and engagement. We invite you to get involved in this effort, no matter your role inside your company. As with any emerging discipline, the earlier you get involved, the better for your career.