Cloud Financial
Management for the Humans
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FinOps Center Framework
What problem is FinOps Center Solving and what does it do?
The adoption of AWS has fundamentally altered the IT financial management, expense distribution, and fiscal responsibility practices for customers. As they continue to develop their partnership with AWS, clients need to rationalize their credits and discounts to the appropriate product group or line of business. While cost optimization remains a priority for numerous Cloud Centers of Excellence (CCoEs), achieving a balance between expenditure and budget, and maintaining spend accountability, extends beyond mere cost optimization.
We call this the FinOps 2 Speed Problem
FinOps Center is a purpose-built process application that enables the business and engineering constituents in customers’ CCoE to understand and act to control their cloud cost. This frees up specialists to concentrate on optimization.
FinOps 2 Speed Problem & Solutions
Mode 1:
Spend/Bill Approval Processing
80% in soft saving opportunity
Skepticism of value due to lack of centralized source of truth- Cost of time on task (budget scheduling, spend approval & data transformation to core financial application) compared to “onprem” control systems
Mode 2:
Cost Optimization
30% in hard saving opportunity
Over provisioning, idle resources- Maximizing buying option
Solution:
- Custom process applications that targets reducing time on task of management of project spending and integration of spending to core systems.
- All of Organization ownership of Cloud Spending Tasks.
Process
Discovery
Discovery
8 Weeks
V1 Process
Buildout
Buildout
24 Weeks
Projects
- QuickStart
- Amazon Q Framework
- CFM CCoE
- Phase 1
- Phase 2
- Managed Services
Solution:
- SaaS Solutions that consumed billing data to provide resource provisioning recommendation and provide purchase options.
- Small SME Business and Engineering Teams owning all Tasks including automation implementation and management.
Projects
Setup Billing Feed
1 Day
CostOps Automation
2 Weeks
CostOps Office
~50Hrs Monthly
Bringing things together
AWS programs
AWS Migration Hub MAP Funding
Buying Agreement
Cost and Usage
Governance Services
AWS Control Tower
AWS Organizations
AWS Budget / Actions
Financial System
Oracle
Workday
Oracle NetSuite
IBM
Quickbooks
SAP Ariba
ServiceNow
Q&A / Business Intelligence
Amazon Q in Quicksight FinOps Center Framework
CUDOS
KPI
Cloud intelligence Dashboard
TAO
Trends
New Workload Onboarding,Updating & Alignment to Financial Budgets
Solution & Capability
- Integrates to Account Management APIs to immediately map AWS Accounts to a Financial Budget or Multiple Financial Budgets based on % Allocation
- Remap to beginning of Week/Period of the Current or Previous Month
- Create Workloads and Claim Resources within AWS Accounts of their Allocations
Business Users Onboarding to be Informed and Act on AWS Spending
Solution & Capability
- Add Business User and map them to their Role
- Map Business Users to their Financial Scope to include the Hierarchy of Financial Budgets
Provide Management “Real-Time” Understanding of Spending vs Budget
Solution & Capability
- View Spending within Business Users Financial Scope in context of Approved Budgets
- Summary and Detailed Views drill-downs to “Product/Project” Level
Integrated Business Intelligence and Generative-BI Capability to Drive Processes
Solution & Capability
- Embedding and management of the CUDOS Dashboards with RLS based on Business Users Financial Scope
- Amazon Q in QuickSight for FinOps Center Framework
Key Cloud
Financial
Management
Processes &
Capabilities
Workload Estimates Creation & Integration to Budgeted Spending
Solution & Capability
- Financial Budget Owners add Workloads base on the AWS Pricing Calculator
- New Workloads are added to Budget Scheduling screen to assist users with allocating Budget(s) for Approvals
Monthly Spending Approval/Validation workflow
Solution & Capability
- FinOps Center receives Annual Budgets from Core Systems or Manually for Annual Spending per Financial Budgets
- Budget Owners Schedule Spending Per Month based on their Estimates
- Budget Owners Manager Approves or Reject Spending
- Budget Owner can Reschedule Montlhy Spending Month via Approval Workflow
- Business Users view Spending within Approved Budgets
Spending Approval and/or Dispute Resolution within a Billing Cycle to Impact Current Bill
Solution & Capability
- FinOps Center creates Spending Cards ever Period (1st of Month to Saturday, Sunday to Saturday, Sunday to End of the Month)
- Budget Owners Approve or Dispute Cards
- Budget Owners Managers Approve, Reject, or Resolve Disputes
- Management Roles view Status of Cards within their Financial Scope
AWS Spending Program Management (MAP/PPA)
Solution & Capability
- (Q4 2024) MAP Contracts are setup in FinOps Center
- Budget Owners add Tagging to Resources/Services within the MAP Contract
- FinOps Center integrates with AWS System Manager to apply Tags
- Amazon Q in QuickSight provides Business Users progress towards Spending Accrual
- Buying Agreement Pricebooks to be Applied to Spending
AWS Credit Management
Solution & Capability
- Bill Credits (PoC/MAP) are added to FinOps Center at a Project Budget level
- Budget Owners see their Credit
- End of Month Accrual File include Credit Balance against Budget Spending
- End of Month AP File includes all Credits applied to Cloud Estate in the Billiing Cycle
Cost Optimization & Accountability for Action
Solution & Capability
- (Q4 2024) FinOps Center consumes Cost Optimization Recommendations from the Cost Optimization Hub Data Exports
- Business Users are Alerted to Cost Recommendations that have not been taken action on for 1 Period
Integrate Spending to Account Payable ”Procure-to-Pay”
Solution & Capability
- Customizable File that is available to FinOps Leadership upon approval of all Cards
- Last Period Cards is made available once the CUR File is updated with Invoice Number notifying the month is closed
FP&A Integration for Spending Accrual
Solution & Capability
- Accrued Spending by Financial Budget
- FP&A incorporates Credit Balance applied to Spending
Tagging vs Multi-Account Strategy
2018
Which fish is yours?
Now
Which bucket is yours?
How it Works
AWS Marketplace
AMI
EC2
Role
S3
FinOps Center
CloudFormation
Customer Master Payer
Account Management API
Platform API
S3
Cost & Usage Report
Cost Optimization Hub Data Export
Route 53
Cloud Operations (Delegated Admin)
Cognito
CloudFront
Cetificate Manager
Virtual private cloud (VPC) Security Group
Unanimous Embedding
Amazon QuickSight
Amazon Athena
Amazon Q
DynamoDB
AWS Step Functions
S3
React
NodeJS
SNS
Lambda
AppSync
EndPoints
Plans
Select the plan that best suits your team.
FinOps Center “FinOps In-a-Box” Hourly
Free trial
$.99/hr *
- Full Features
- 10 Accounts
FinOps Center “FinOps In-a-Box”
Year 1 $12,500 *
- Full Features
- 25 Accounts