The collaboration of team leads, engineers and finance departments is a key to successful cloud cost management and cost optimization. As a matter of fact, it’s a critical step to create budgets for specific projects, features, epics, milestones or releases, keep cloud costs under control and detect cost anomalies for preventing unexpected expenses.
Each team member, as part of the FinOps process, is focused on building an effective cloud usage experience and is engaged in cloud cost optimization and cost-saving processes.
IT and finance team collaboration
Engaging engineering teams in cost savings and FinOps
Resource grouping and sharing
Everyone takes ownership of cloud resource usage
Cross-functional teams streamline cloud cost transparency and optimization, and planning processes in the cloud. Collaboration is aimed at combining a set of such functions as financial analytics and control, budget and resource allocation, and implementing an effective cloud usage strategy.
With OptScale, managers gain complete cloud cost transparency, remain on track, and take all cloud resources under their control. The engineers are engaged in FinOps and cost-saving processes via Slack. Flexible TTL rules for individual resources and budget constraints enable every team member to prevent unused cloud resources and reduce cloud bills.
OptScale helps establish effective IT resource sharing and lifecycle management for a smooth FinOps adoption. Engineers can use the cloud resources created by any team member which are not being used at the moment. OptScale provides a mechanism to represent clusters, stacks, and jobs; but not with only individual resources. You can lease resources from their owners and pay only for the specific lease time. Acquire, release and schedule shared usage to optimize opportunities.
Via OptScale companies benefit from a FinOps process in which every member of the engineering team takes responsibility for the cloud resources they use, and finance issues resulting in successful cost savings and cloud cost optimization. This makes it progressively easier to maintain cloud usage control, eliminate waste and expenses, and successfully adopt FinOps.
A full description of OptScale as a FinOps and MLOps open source platform to perform multi-scenario cloud cost optimization and ensure ML/AI profiling and optimization
Discover our best practices:
This ebook covers the implementation of basic FinOps principles to shed light on alternative ways of conducting cloud cost optimization