Financial operations (FinOps) initiatives are growing in importance amid the DevOps trend toward continuous integration and continuous delivery (CICD) of modern application architectures, according to data and analytics company GlobalData.
In a press release, GlobalData says the practice of FinOps represents a relatively new operational framework and initiative growing in recognition among enterprises undergoing digital transformations by migrating applications to the cloud and/or creating cloud-native apps.
For this matter the importance of FinOps has undoubtedly evolved as enterprises recognise a greater need to tackle out of control cloud spending associated with distributed apps and workloads.
"FinOps is becoming the standard practice among global enterprises," says Charlotte Dunlap, research director, Enterprise Technology and Services at GlobalData. "DevOps teams are looking to verify that modern applications are being deployed in the most efficient and cost-effective manner, namely through advanced monitoring and cost optimisation tools."
She notes that ensuring this level of insight and best practices into how resources are being allocated, consumed, and managed has not been easily achieved, making it difficult to effectively economize new digitisation investments.
"In terms of adoption scenarios, it is likely the practice of FinOps will eventually fall under the umbrella of key DevOps initiatives, addressed through application platforms which consolidate intelligent automation, observability, AIOps (a term referred to by enterprise IT ops teams as operationalizing the AI model) solutions, and increasingly FinOps tools as well. These platforms will be supported by low-code and GenAI-enabled tools. This alignment between key monitoring, visibility, and process automation will play out in the coming months."
