These are what the FinOps team does in practice. This list is maintained under the TAC's Technical Charter and is an input for programs like the FinOps Certified Platform and FinOps Certified Service Provider.
- Map spending data to the business
- Set tag strategy and compliance
- Create showback and chargeback reporting
- Define budgets and forecasts
- Dynamically calculate custom rates and amortization metrics
- Provide timely and consistent spend / usage data to all stakeholders
- Identify Anomalies
- Find & Remove underutilized services
- Trending & Variance Analysis
- Create Scorecards, metrics & KPI’s
- Benchmark internally and against “industry” peers
- Rightsizing
- Workload Management
- Automation
- Balance use of various rate types
- Select discounts that match your flexibility
- Pre-purchase capacity
- Custom and Volume Discounts / Sustained Usage
- Utilize Marketplace
- Licensing Optimization
- Mini-Business Cases
- Tracking and Trending
- Communication strategy
- Ongoing reviews with stakeholders on optimization opportunities
- Develop a framework for decision making that aligns with the business drivers