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Why do you need Cloud Cost Management?
When companies design their cloud IT solutions, they prioritise innovation, availability, scalability, security, resilience, and compliance. While these aspects are crucial for customer success management, what often goes unnoticed are the costs associated with these solutions, especially in cases where AI is heavily utilised. As these costs rise without a corresponding increase in business value or output, companies risk reducing their profit margins and even incurring losses.
Worse yet, when cloud costs become an issue, it is often too late to make informed decisions on business goals, and the attention is diverted into cutting costs.
So why not consider implementing cost awareness measures early on, and at every stage of your cloud journey, before cost concerns disrupt your business plans?
What is FinOps?
FinOps is an operational framework that maximises the business value of cloud investments by fostering financial accountability and collaboration across engineering, finance, and business teams. It provides transparency into cloud spend, enabling timely, data-driven decisions on where to optimise costs and where to invest.
“FinOps is not just about saving costs – it’s about understanding where your money is going and making informed decisions about whether it’s being spent wisely.”
Mastering FinOps
Cloud adoption is critical, but managing cloud spend remains a challenge for many organisations. Integrating these costs into management reporting is essential. FinOps isn’t just a strategic tool; it’s a necessity for financial accountability and operational efficiency.
Our whitepaper “Mastering FinOps” provides a practical roadmap for organisations to start their FinOps journey and take control of cloud costs.
Why PwC for FinOps?
We believe there’s no “one-size-fits-all” approach to FinOps, as every organisation faces unique challenges in its cloud journey. As independent advisors and counterparts in discussions with cloud service providers, we use industry best practices and experience from diverse clients to tailor a solution that suits your cloud maturity level. Whether you’re just starting or advanced in your Cloud practices, we can assist you to reach the next level of FinOps maturity.
We help organisations become aware of their cloud expenses at every stage of their cloud journey, hence preventing unnecessary cloud costs (cloud waste) and optimising existing cost drivers. We make sure that every dollar spent on the cloud brings value to the business. Because our goal is to unlock the full potential of the cloud while ensuring accountability and sustainability.
“We understand that FinOps can be an abstract concept, lacking concrete definitions of how-to and best practices. Our approach is to empower organisations by offering simple practices and tools, particularly automations, that will enable them to fully control their Cloud financial management without any hurdles”.
Our services
Whether you’re just starting your FinOps journey or looking to improve existing practices, here’s how PwC can help you navigate the complexities of cloud costs:
Build a FinOps target operating model, define strategy, implement governance, and establish best practices.
When moving to the cloud, organisations need to establish a FinOps practice to align cloud usage with business objectives. This involves building a FinOps target operating model and strategy, implementing governance structures, and defining best practices.
- FinOps Target operating model: We help you develop a framework to manage FinOps practices effectively. This includes defining roles and responsibilities through RACI matrices, selecting the right tools, and creating clear processes.
- Strategy and governance: We assess your current state (as-is), define your future goals (to-be), and conduct a gap analysis. This includes setting KPIs, creating an implementation roadmap, and integrating FinOps into your business processes.
- Best practices: We implement tagging strategies, cloud spend forecasting, policy-based governance, and architectural guidelines to ensure an efficient and well-structured cloud environment.
- Benchmarking and research: With peer comparisons and market evaluations, we help you select the best tools and refine your practices.
Equip your teams with practical, hands-on FinOps skills to unlock the full value of the cloud.
FinOps requires collaboration across multiple roles, and upskilling is key to success. PwC’s training ensures that your teams gain practical, hands-on FinOps knowledge tailored to your organisational challenges.
- Interactive workshops: A 10-hour training session (spread over two days) covers both theory and practical applications. Participants explore real-world examples of FinOps implementation.
- Customised content: Training is tailored to your specific cloud challenges, ensuring actionable takeaways for your organisation.
- Key topics: Learn cost allocation strategies, cloud cost forecasting, governance frameworks, and optimisation techniques.
- Hands-on approach: Teams practice applying FinOps principles to their own cloud environment, ensuring they leave the training with practical solutions.
Gain visibility and accountability into your cloud spend with effective allocation and forecasting.
Accurate cost allocation is critical for financial accountability and optimisation. PwC can help you achieve transparency by implementing effective allocation strategies and reporting processes.
- Cost allocation strategies: We support you in designing and implementing a comprehensive tagging strategy and account hierarchy for detailed visibility of cloud spend.
- Reporting governance: We analyse current cost allocation hygiene and create detailed reports to identify gaps and improve practices.
- Forecasting and budgeting: We help application owners create accurate cloud spend forecasts and set realistic budgets for better financial planning.
- Cloud unit economics: This includes calculating the total cost of ownership, identifying cost anomalies, and providing insights to support data-driven decisions.
- Automation assistance: We implement governance tools and automation to streamline cost allocation processes.
Optimise cloud usage and rates, review architectures, and assess business value to reduce costs.
Cloud costs can spiral out of control without proper management. PwC provides strategies to optimise both usage and rates, ensuring that cloud resources are aligned with your business needs.
- Usage optimisation: We help you rightsize resources, implement scheduling for instance shutdowns, and remove orphaned resources to minimise unnecessary spend.
- Rate optimisation: This can be achieved by exploring cost saving opportunities such as savings plans, reserved instances, and volume discounts.
- Architectural reviews: We conduct in-depth analyses of your applications to recommend cost-effective solutions without compromising on performance or security.
- Business value assessment: We go beyond standard recommendations by evaluating the business value of resources, such as log usage and storage tiering.
- Enterprise licensing review: Reduce costs through the strategic use of open source and native technologies.
Establish proactive policies and guardrails to control spending and prevent waste.
Effective governance prevents uncontrolled spending and ensures compliance with organisational policies. PwC can help you establish guardrails and proactive policies to control costs and reduce waste.
- Policy analysis and implementation: Analyses of business requirements and development of tailored cloud policies for compliance, security, and resource use.
- Technical assistance: We provide ready-to-deploy cloud IAM policies using Infrastructure as Code (IaC) for seamless integration.
- Shift-left practices: We deliver early recommendations for infrastructure changes to avoid unnecessary cloud waste and repeated optimisation cycles.
- Proactive monitoring: We help you set up governance frameworks that continuously monitor cloud usage and alert teams to potential compliance issues or inefficiencies.
Address the environmental impact through detailed carbon footprint reporting and sustainable cloud usage practices.
As sustainability becomes a priority, organisations must address the environmental impact of cloud computing. PwC’s GreenOps services enable you to reduce your cloud carbon footprint while identifying cost saving opportunities.
- ·Carbon footprint reporting: We help you gain detailed insight into the energy consumption and environmental impact of your cloud resources.
- Sustainable practices: We define strategies to reduce emissions, such as optimising storage tiers, using energy-efficient regions, and planning resource usage.
- ·Cost and sustainability alignment: We show how sustainable practices can lead to cost savings, creating a win-win scenario for businesses and the environment.
- Stakeholder reporting: Communicate your sustainability performance to stakeholders, in line with your corporate social responsibility (CSR) goals.
How FinOps drives value for your business?
PwC’s FinOps Services help organisations maximise the value of their cloud investments by fostering transparency, optimising costs, and enabling sustainable practices. Key results include:
Establishment of robust financial management practices
Build a solid FinOps foundation to effectively govern your cloud spend. By integrating automation and aligning your cloud usage with overarching business strategies, you can streamline your approach to cloud financial management and drive efficiency.
Optimisation of cloud costs and improvement of accountability
Gain full visibility into your cloud spend to optimise costs and improve accountability. By implementing tailored cost allocation strategies, accurate forecasting, and resource optimisation, you can ensure that every dollar spent on cloud services delivers measurable value and supports your business goals.
Enhancing sustainability with GreenOps
Adopt sustainable cloud practices to minimise your impact on the environment. By tracking your carbon footprint and aligning with stakeholder expectations, you can not only meet regulatory requirements, but also demonstrate your commitment to responsible and sustainable business practices.
Unlock the full potential of your cloud investments with PwC’s FinOps expertise and drive measurable results across cost, performance, and sustainability.
Ready to take control of your cloud spending?
Access a practical framework that provides a clear roadmap and governance model for implementing FinOps in your organisation, as well as insights into cloud adoption trends, challenges specific to Switzerland, and strategies for using AI to improve cost optimisation.
Contact us to find out how PwC’s FinOps services can transform your approach to cloud financial management.
Contact us
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