Seek solutions now to remedy surging cloud costs

The complexities of FinOps

FinOps apparently can’t provide a solution either. According to cloud practitioners, the framework, which consists of tools, processes, and cultural aspects, is too complex and difficult to anchor in organizations, and almost half of the IT decision-makers surveyed said there were too many different roles in the FinOps concept, creating obstacles for transparency in cloud costs. In addition, processes for cost monitoring often don’t fit with cloud architectures, and the lack of a central data platform is also causing problems, say three out of 10 IT decision-makers.

So what’s the solution? According to many IT managers, the key to more efficient cost management appears to be better integration within cloud architectures. Almost three-quarters of respondents in the study expressed the hope that more efficient integration of various cloud resources could lead to a reduction in cloud spend.

More customer-centric cloud providers

It may not be in the interest of cloud providers, but even they are calling for better cost management. During his keynote speech at the AWS re:Invent 2023 conference in November, AWS CTO Werner Vogels argued that the cost aspect must be taken more into account in the cloud development process. IT decision-makers must be able to continuously monitor their cloud architectures and adapt them to optimize costs, he said.