New solution helps enterprises manage cloud assets

As organizations turn increasingly to the cloud they face the challenge of understanding not just the cost but also the value of their operation.

To help organizations maximize business value from their technology investments, Flexera is launching a new solution that strengthens an enterprise's FinOps and cloud central teams, while allowing the convergence of IT asset management (ITAM) and FinOps.

Flexera One FinOps provides an integrated view of the technology ecosystem. It helps cloud teams collaborate with partners and stakeholders across the organization, such as ITAM and software license management (SLM), IT (operations and engineering), finance, engineering, architecture and security teams.

"Enterprises want more governance over cloud spending, but they're not willing to give up the speed, agility and other benefits that come from digital transformation," says Brian Adler, senior director of cloud market strategy at Flexera. "Today, when wasted spend across the IT estate is rampant, FinOps provides both a financial management discipline, as well as a cultural practice that maximizes business value at organizations that are serious about managing their cloud spend as their digital transformation initiatives move ahead."

Reliance on FinOps is growing; 72 percent of organizations now have dedicated FinOps teams, according to the Flexera 2023 State of the Cloud Report. The report, based on a survey of cloud decision makers, found that public cloud spend was over budget by an average of 18 percent, while 30 percent anticipate that spending will increase in the coming year. These findings indicate the growing need to more effectively manage hybrid IT estates and expenses.

"Effective FinOps for a hybrid IT estate requires knowing what you have, knowing how much you're using, planning effective cloud migrations, and governing efficiently," adds Adler. "Flexera One FinOps supports all of that through a single solution."

You can find out more on the Flexera site.

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