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The complexity and scale of Cloud operations is beyond the capability of traditional financial management processes. Today, organisations use Cloud service providers to increase agility, flexibility, and efficiency. Efficiency in this context means the speed of delivery coupled with a reduction in both capital and operational costs. However, that is not the only benefit to be derived. Operating cost reduction is a challenge to organisations that are new to the Cloud and even with those who achieved a certain maturity level. Dealing with operational cost needs in-depth Cloud financial management (CFM).
With this in mind, there are three things to consider with Cloud cost optimisation. First, assess your organisation needs and its level of maturity in using the Cloud. Second, if you lack the skills, then collaborate with a Cloud-Certified Partner (CCP). Lastly, set a collective governance system (guidelines and guardrails) to ensure the services are continuously cost-optimised.
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