Take the Guesswork Out of Cost Management with Nutanix FinOps-as-a-Service

By Charlie Boyden

February 12, 2024 | min

With hybrid mutlicloud deployments and rising public cloud costs becoming the new normal for IT teams, the demand for a centralized FinOps strategy has increased dramatically. In fact, 36% of cloud buyers have already deployed a FinOps strategy, and that figure is expected to grow to 65% in 2024.1

For those unfamiliar with FinOps, sometimes referred to as cloud financial management, it is the practice of collaboration and increased accountability across the organization regarding cloud spend.

To assist customers with this growth, Nutanix launched FinOps-as-a-Service, a new solution that combines Nutanix professional services and the Nutanix Cloud Manager (NCM) Cost Governance solution. FinOps-as-a-Service provides organizations with a Nutanix reporting service advisor to help with setup, ongoing support and enablement of their NCM Cost Governance environment. FinOps-as-a-Service offers support for AWS, Azure, and GCP workloads, catering to both our existing customers and new clients who are not currently utilizing Nutanix services.

1 Infobrief, Sponsored by Nutanix, Thriving in a Multicloud World, IDC #US48845822, January 2024

The Challenge of FinOps

FinOps practitioners generally run into the following challenges:

  • Managing costs across private and public clouds is complex and requires knowledge of different interfaces, user access and naming conventions.
  • Aligning budgets and ongoing spending to the correct cost centers is laborious and error-prone.
  • Identifying idle services, rightsizing underutilized resources, and navigating reserved instances (RIs) are manual processes and require in-depth knowledge of purchasing options.
  • Holding departments across the organization accountable for their individual spending requires an efficient chargeback strategy.

Advantages of Nutanix FinOps-as-a-Service

FinOps-as-a-Service helps customers address these challenges with the following features:

Low-stress setup and configuration – Kickstart your FinOps journey with an onboarding workshop where you'll gain a comprehensive understanding of NCM Cost Governance while our reporting service advisors delve into your cost center strategy and collaborate with you to define your reporting requirements.

Our hands-on approach ensures that we not only assist you in onboarding your cloud accounts seamlessly using FinOps-as-a-Service but also guide you in designing a tailored cost center and reporting strategy.

Once onboarded, receive optimization recommendations in as little as 24 hours, paving the way for enhanced cost management and efficiency in your cloud operations.

One-click optimization across clouds – Managing spending across clouds is complex and often leads to manually reconciling data in spreadsheets. With FinOps-as-a-Service, you can quickly pinpoint spending anomalies, eliminate unused resources directly from your NCM Cost Governance console, and identify underutilized assets to be rightsized across clouds.

Reports tailored to your business – Looking to build reports on specific cloud accounts, EC2 RI utilization, unused resources across clouds, and more? You can easily configure custom reports based on your business requirements and ensure they are as high-level or granular as you want. Nutanix reporting advisors will collaborate with finance platform owners to capture costs, review potential anomalies, and establish best practices.

Tag-Based Resource Mapping and Chargeback – NCM Cost Governance uses tags from your cloud accounts to map resources to business units and cost centers. Reporting service advisors will assist in aligning your tagged resources to the correct cost centers, ensuring that all departments are held accountable for their spending. Furthermore, easily assign budgets to these departments and set thresholds to stay on top of runaway spending.

Looking Forward with Cost In Mind

It’s no mystery that the FinOps methodology will continue to increase among businesses with resources deployed on-premises, in the cloud and a combination of both. After all, when AWS dedicates a closing keynote with a session dedicated to cloud cost optimization, you get a good sense this subject isn’t going anywhere.

With this in mind, businesses will face challenges around visibility into costs across deployments, holding high-spend departments accountable and identifying savings opportunities when and where possible. Make sure you are prepared to tackle these challenges by contacting an expert from the Nutanix FinOps team today.

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