IT Business

FinOps: managing costs in the cloud.  

Aug, 18, 2023 | Read 2 min.

FinOps: managing costs in the cloud.  

FinOps is an umbrella term for Finance and DevOps and defines the business methodology where the goal is to maximise corporate value in multi-cloud and/or hybrid environments. It is a collaboration between IT, finance and business teams to facilitate decisions on where and when to invest.  

In the IT area of any company, agility and efficiency are key, with cost optimisation and efficient software development being key to success.   

This is where Quanter comes into play as a tool within the FinOps methodology, as it helps in the management and estimation of costs in the development of software projects.   

How is the FinOps methodology developed?  

1. Multidisciplinary collaboration: FinOps encourages collaboration between finance and IT departments. This allows teamwork to allocate resources to projects that are truly efficient.  

2. Cost transparency: provides transparency and visibility into the costs associated with software development. This helps to make informed decisions and avoid unpleasant financial surprises.  

3. Strategic planning: companies can plan and budget software development projects more accurately. This avoids unforeseen expenses and helps to maintain financial control.  

Software optimisation is not just about creating functional applications, but also about ensuring that they operate in an efficient, scalable and economically viable way.  

Benefits of working with Quanter on the FinOps methodology:  

These are the main aspects of how to manage costs in the cloud.

1. Reduction of wasted resources: by accurately estimating the effort and resources to be used in software development projects based on their requirements, Quanter helps identify areas where resources could be being wasted, enabling more accurate allocation.  

2. Transparency and reliability: Quanter uses estimation methods based on the ISO/IEC software product standard, which improves transparency and increases confidence in the estimates.   

3. Agile resource management: Agility is a pillar in software development. Quanter allows to adapt the budget with the software estimation.  

In short, by combining the FinOps methodology with Quanter as an estimation tool, not only will costs be managed in the cloud, but also in software development where it can be applied to maximise the quality and efficiency of the software created. 

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