A shift to cloud computing often comes with promises of optimized cost efficiency, security, and development time, but without a strong focus on operational and financial management, realizing these benefits may be trickier than expected. Using our SONAR Trend Platform, we created an overview and mapping of relevant trends related to Cloud Governance based on their occurrence within expert media articles, mass media, patents and scientific publications.
Cloud governance is the foundation for making sure services run smoothly in the cloud, and involves defining, monitoring, and auditing a set of rules, guidelines, and processes by which companies guide their cloud operations. We then grouped topics and trends related to cloud governance into four distinct categories.
Processes and tools to identify, measure, monitor, manage and optimize cloud-related costs and spending.
Concerned with requirements, configuration, delivery, optimization, and performance of cloud workloads, resources, and services.
Manage cloud data across platforms and lifecycle, from sourcing, classifying, encryption, access, storage, and deletion.
Ensure cloud-related risk assessment, privacy control, identity and access management, data encryption, application security, and compliance.
Adopting the FinOps Lifecycle model
MARKET GROWTH OF IT AND CLOUD OPERATIONS
Implementing FinOps and Cloud Governance requires careful consideration and preparation which addresses all cultural, functional, and operational changes to be made.
Financial accountability needs to be at the forefront of decision-making. To do this, a FinOps role or team should be accountable to a central finance team but also be functionally located within a cloud management/DevSecOps setting.
All costs, including non-cloud, public cloud, private cloud, maintenance, people costs, and more, should be evaluated along with their impact on deploying business services.
Each technology should be assessed beforehand to determine which business functions it supports and its anticipated demand, therefore facilitating in creating accurate cost forecasts.
The FinOps team needs to be considered an equal partner in the DevSecOps process, as they help build the framework for long-term financial analysis and support.
Decide whether to use an internal or external cloud management platform in order to manage data, integration, automation, security, and financial functions.