A Study On The Finops Framework For Sustainable Cloud Engineering

Abstract

A growing number of businesses are moving to the cloud or setting up shop there in order to take advantage of the greater business efficiency, scalability, and flexibility provided by this technology paradigm. However, cloud service providers often neglect how normal
ICT Financial Management practises affect the variable pay-as-you-go cost model. Increased delegation of expenses to business users, who frequently utilise cloud services directly, pose the risk of decreasing the Finance department's understanding of the costs spent, which would jeopardise the precision of spending estimates. The objective of this research is to assess how cloud monitoring technologies can be used in conjunction with FinOps methodologies and approaches, such as cost allocation, budgeting, and
forecasting, to maximise cloud cost efficiency. The final step involves the qualitative technique that has been suggested for assessing the level of maturity of Cloud Financial Management practises. This research study came to the conclusion that combining
FinOps with cloud monitoring technologies can provide a comprehensive method of cost optimisation in cloud systems. Good data management, tool integration, and team communication are necessary for this plan to be implemented successfully. By using the
concepts and strategies presented in this study, businesses can optimise costs while retaining system efficiency and functionality.