Cloud Economics: how it can immediately benefit your organisation

Welcome to the fascinating world of Cloud Economics (also known as FinOps or Cloud Financial Management). In this blog, cloud expert Michael Kubik explores the tangible benefits your organisation can reap from this practice.
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Written by Michael Kubik

Written by Michael Kubik

Delivery Lead for Cloud at Blue Crystal Solutions

The Real Business Impact of Cloud Economics (aka Cloud FinOps)

We all want to cut costs and optimise spending, but the benefits of Cloud Economics stretch far beyond the balance sheet. It’s important to understand that Cloud Economics refers to all cloud costs, including all financial aspects related to the cloud and the value derived.

Here’s what Cloud Economics can bring to an organisation:

Financial Transparency

What it means: A clear view into how and where your cloud budget is being spent.
Why it’s important: Armed with this data, CFOs and CIOs can make informed decisions and reduce friction between IT and finance departments.

Scalability

What it means: The ability to adapt cloud resources to meet business needs without over-provisioning.
Why it’s important: Save costs and align your tech capabilities with your actual requirements, preventing both waste and capability limitations.

Operational Agility

What it means: The capacity to adapt swiftly to market changes or customer demands.
Why it’s important: Faster decision-making enables you to get ahead of the competition and meet customer needs more effectively.

Strategic Growth

What it means: Leveraging cloud cost data for making long-term investment and growth plans.
Why it’s important: You’re not just saving money; you’re reallocating it to foster growth and innovation.

Risk Mitigation

What it means: Effective budget monitoring and proactive policy enforcement.
Why it’s important: Be prepared for financial audits and ensure compliance with regulations, avoiding penalties and reputational damage.

How Do You Realise These Benefits?

Getting to the point where Cloud Economics is actively benefiting your organisation involves a few key steps:

  • Inter-Departmental Collaboration: Bring together your IT and financial departments for regular sync-ups.
  • Invest in Tools: Utilise cloud management and financial planning tools tailored for cloud economics.
  • Regular Audits: Review and adjust your cloud strategies and policies to ensure ongoing alignment with organisational goals.
  • Employee Training: Up-skill your workforce to be cloud-savvy, so they contribute to optimisation efforts.
What’s in it for the C-Suite?

If you’re someone at the managerial helm, you’ll enjoy:

  • Data-Driven Decision Making: Rely on hard data, not just intuition.
  • Improved ROI: Get more bang for your buck with smarter cloud investments.
  • Enhanced Business Agility: Be well-positioned to take advantage of market opportunities.
  • Corporate Governance: Be at the forefront of ensuring corporate compliance and governance related to cloud usage.

Embracing Cloud Economics is not just smart; it’s essential for organisations that want to not just survive, but thrive in today’s competitive landscape. Contact us to learn more about our Cloud Economics Service and what benefits you can gain for your organisation. Need help with your cloud journey or managing it? We can help there too.

Learn more about our Cloud Economics Service

Want to identify trends in your cloud expenses and isolate cost drivers? And detect any spending anomalies? 

We perform a comprehensive analysis of your cloud expenditure and help you optimise your operating performance and maximise efficiency. You’ll be amazed what we can uncover. 

Cost Management Policy

Cloud Spend Analysis

Budget & Forecasting

Regular Reporting

Cost Allocation & Chargeback

Spend Optimisation Advice

Learn More.

As you and your team return from the holiday break, it's time to re-engage with your IT environment and ensure a smooth transition back to work. To kickstart the year on a productive note, here are 20 tips to help you revitalize your tech and make the most of your IT environment post-holidays.

Welcome to the fascinating world of Cloud Economics (also known as FinOps or Cloud Financial Management). In this blog, cloud expert Michael Kubik explores the tangible benefits your organisation can reap from this practice.

You or your team might be wrapping up the year and gearing up for some well-deserved time off, or you’re working right through (like we are); it’s always good practice to ensure your IT environment is prepped and ready for a smooth and stress-free break. Here are 9 tips – some familiar and perhaps a couple newbies.

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We are a specialised supplier of Cloud, Application, Database & Infrastructure, Operating System Management, Modernisation and Transformation services. With security at the forefront of everything we do, we can also work with your cyber teams to significantly improve your security posture whilst ensuring all your services with us are fortified by our integrated outage protection and 24×7 monitoring tool, BlueDiamond

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