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By 2025, 51% of IT budgets will go to cloud-based systems and operations. methods enable organizations to derive the maximum value from cloud computing while spending less time managing and optimizing cloud costs. FinOps Basics: What is Cloud Cost Optimization? needs to evolve to meet the needs of modern FinOps and DevOps teams.
FOCUS is being adopted by end user FinOps Practitioners, leading cloud Infrastructure-as-a-Service (IaaS) providers, and FinOps tool vendors, who all benefit from removing complexity associated with cloud billing data normalization. release (slated for November) and planning for further releases in 2025. Foreword FOCUS 1.0
Unfortunately, for many companies, the cost implications of cloud technologies have not been sufficiently addressed, even with the rising number of FinOps solutions dedicated to reducing cloud spend.
Key Insight: At re:Invent 2024, AWS announced numerous product enhancements that help FinOps Practitioners and their organizations optimize their cloud usage. The FinOps Foundation caught up with several AWS Product Managers at re:Invent and asked them what their teams have delivered and how these updates will impact Practitioners.
the fourth release of the FOCUS Specification, is now available for cloud vendors and FinOps Practitioners to adopt. The FinOps Open Cost and Usage Specification (FOCUS ) Version 1.1 in June 2024, FinOps Practitioners could get their own cloud billing data in the FOCUS format from four of the leading cloud service providers.
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