Flexera launches FinOps solution

IaaS Management

Flexera launches FinOps solution

Flexera has launched Flexera One FinOps, a new standalone FinOps solution for enterprises. Flexera claims this “industry-first solution” will strengthens an enterprise’s FinOps and cloud central teams, while enhancing the convergence of IT asset management (ITAM) and FinOps – something we have been championing for some time now. It will improve how enterprises visualize and allocate cloud usage and billing, efficiently manage hybrid IT estates, and operate cloud at scale.

Flexera One FinOps provides an integrated view of the technology ecosystem. It helps cloud teams collaborate with partners and stakeholders across the organization, such as ITAM and software license management (SLM), IT (operations and engineering), finance, engineering, architecture, and security teams.

“Enterprises want more governance over cloud spending, but they’re not willing to give up the speed, agility and other benefits that come from digital transformation. Today, when wasted spend across the IT estate is rampant, FinOps provides both a financial management discipline, as well as a cultural practice that maximizes business value at organizations that are serious about managing their cloud spend as their digital transformation initiatives move ahead.

“Effective FinOps for a hybrid IT estate requires knowing what you have, knowing how much you’re using, planning effective cloud migrations, and governing efficiently.”

Brian Adler, senior director of cloud market strategy at Flexera

Flexera 2023 State of the Cloud Report

According to the Flexera 2023 State of the Cloud Report, reliance on FinOps is growing; with 72% of organizations now having dedicated FinOps teams. At the same time:

• 39% of respondents cited a year-on-year increase in the amount of cloud spend that went over budget
• Public cloud spend was over budget by an average of 18%
• 30% anticipate that cloud spending will increase in the coming year

     

The details

Flexera’s new solution is available standalone or as a part of the broader Flexera One platform, building on the existing Flexera Cloud Cost Optimization (CCO) technology. It helps users stay informed about areas of potential savings, optimizing their investments, and operating efficiently by automating and governing processes across a hybrid IT estate.

Flexera One FinOps solutions are available in the following configurations:

• Flexera One Cloud Cost Optimization: Flexera’s standard FinOps offering provides visualization to allocate cloud usage and billing.
• Flexera One FinOps Advanced: Offers cloud cost optimization and either of the following:
  • cloud migration: builds on the standard offering with cloud migration functionality, allowing users to effectively plan for migration and operate cloud at scale.
  • SaaS management: builds on the standard offering with SaaS management functionality, allowing users to efficiently manage hybrid IT estates and operate cloud at scale.
• Flexera One FinOps Enterprise: Flexera’s new comprehensive FinOps offering includes cloud migration and SaaS optimization functionality to plan for migration, efficiently manage hybrid IT estates and operate cloud at scale.

Further reading on FinOps from the ITAM Review

FinOps, ITAM and the Shift to Cloud – article from The FinOps Foundation

Free Tech Talks: Building a Bridge Between ITAM and FinOps – On demand webinar

Why ITAM deserves a seat at the FinOps Table

Building the relationship between ITAM & FinOps – Podcast

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