FinOps X Europe in Barcelona was quite the event hosted by the FinOps Foundation, bringing together a mix of industry leaders and FinOps enthusiasts to chat about the world of cloud financial management. If you missed it, here’s a recap of the key highlights and discussions that happened…
 

FOCUS is Here to Stay

One of the standout topics at FinOpsX was FOCUS, which aims to standardize cloud cost and usage data across cloud vendors and the major SaaS providers. With major cloud providers like AWS, Microsoft Azure, Google Cloud, and Oracle already supporting FOCUS, it’s clear that this initiative is gaining traction. During the discussions, many attendees expressed keen interest in  leveraging FOCUS to enhance their financial operations. By adopting a common format for billing data, FOCUS enables practitioners to analyze and optimize their cloud spend more effectively. As FOCUS continues to evolve, it aims to be a game-changer for FinOps teams looking to streamline their operations and maximize the value of their cloud investments. The excitement around its potential was most certainly felt.

Expanding Responsibilities of FinOps teams

This year, the conversation really centered around how FinOps teams are stepping up their game. They’re not just managing public cloud costs anymore; they’re now also handling SaaS licenses and private cloud. With more organizations moving to hybrid models, it’s clear that these teams have a lot on their plates. This raises some important questions: What are the real boundaries of FinOps ownership? And how can teams juggle these expanding responsibilities without feeling overwhelmed?

FinOps for AI

AI adoption is driving new challenges that organizations must address with updated frameworks tailored to the unique demands of AI workloads. As businesses increasingly leverage AI, they face significant cost implications—from the high expense associated with training large models to the ongoing costs of inference and data storage. Traditional cost management practices often fall short here, making it essential for organizations to implement robust FinOps strategies. By gaining near real-time visibility into AI-related spend, companies can effectively manage their AI costs and ensure that these initiatives deliver tangible value. As the importance of AI continues to grow, integrating FinOps best practices will be essential.

The Role of Unit Metrics

With the introduction of Scopes, we’re seeing a shift in how unit metrics are calculated. Many organizations are using various SaaS applications, so understanding the total cost of ownership is becoming increasingly important. The challenge? Integrating these metrics into existing frameworks while making sure no costs get lost in the shuffle.

The Biggest Challenges in Budget Management

Budget overruns are still a common pain point for many organizations. During the Planning and Budgeting Chalk Talk, some practical strategies were shared:

• Collaboration Across Units: Getting other business units involved early (Shift-left) can help reallocate budgets if one area is struggling.
• Cost Optimization Sprints: Think of this like a bug bash—teams can dedicate time to focus on cost optimization with minimal disruption.
• DevOps Collaboration: Involving DevOps from the start can lead to smoother cost management throughout the development process.

Vendors to Watch

We had some fantastic conversations with vendors making waves in the FinOps space. Here’s a quick rundown of the standout ones we believe will deliver significant value in the coming year.

• Infracost: This tool is perfectly aligned with the “Shift Left” approach, helping teams catch cost issues early in the development process. By integrating cost estimates directly into the workflow, Infracost empowers developers to make informed decisions before deployments, ultimately saving organizations from unexpected spend.
• Lucidity: Focused on automatic EBS optimization, Lucidity is a game changer. Their Auto Scaler dynamically adjusts storage capacity based on real-time workload demands, without downtime. This means businesses can save up to 70% on their cloud storage costs while ensuring optimal performance.
• Turn it Off: This AI-powered auto-scheduling tool is designed to optimize resource usage by automatically turning off unused resources during off-peak hours. It’s a simple yet effective way to cut costs and cloud waste without sacrificing performance.

These vendors are not just talking; they’re delivering solutions that address real pain points in cloud FinOps.

Conclusion

FinOps X Europe was a powerful reminder that the world of FinOps is growing but most importantly is making a positive impact. As responsibilities grow and new technologies emerge, collaboration is essential for navigating the complexities of cloud financial management. If you missed out this year, don’t worry—there’s always FinOps X in San Diego in June!