Reducing your cloud costs: Introducing IAMOPS FinOps Services

In response to the significant growth of our clients, we’ve observed a corresponding increase in cloud costs.

As part of our commitment to supporting our clients through every stage of their growth, we are excited to announce the establishment of our dedicated FinOps department.

This strategic move is designed to address the growing challenge of managing and optimizing cloud expenditures, ensuring our clients can continue to innovate and scale efficiently.

Our recent recognition as an AWS Advanced Consulting Partner further underscores our capability and dedication to delivering state-of-the-art cloud solutions.

Our FinOps service offers a comprehensive suite of tools and expertise to ensure financial accountability in the cloud.

How it works:

Our FinOps team consists of certified FinOps practitioners and cloud experts who craft the best financial management practices for your startup.

From setting up a budget for your cloud and allocating costs to providing insights through precise forecasting, we provide comprehensive support to ensure that you get the best ROI for your cloud product.

What value our FinOps team will bring to your startup:

1. Observability:

  • Set cost and optimization goals: We use AWS Billing Conductor & Budgets to align with business objectives and growth plans.
  • Implement cost allocation tags: We track costs by department, project, or application, using AWS Tag Editor and boto3 library.
  • Enable detailed billing reports: We analyze granular data for cost drivers with AWS Cost Explorer & Trusted Advisor.

2. Resource Optimization:

  • Identify idle and underutilized resources: We use EC2 Reserved Instances, Spot Instances, or downsizing.
  • Leverage auto-scaling groups: We adjust resources based on usage patterns.
  • Utilize serverless functions: We pay only for execution time.
  • Optimize storage: We migrate to more cost-effective tiers like S3 Glacier.
  • Rightsize EC2 instances: We choose the optimal instance type for workloads.
  • Schedule workloads efficiently: We schedule batch jobs to run during off-peak hours.
  • Define and enforce cost optimization policies: Set spending limits and guardrails with AWS IAM & Config rules.

3. Pricing and Discounts:

  • Evaluate Reserved Instances: We leverage upfront commitment for significant discounts.
  • Explore Savings Plans: We gain sustained use discounts for predictable workloads.
  • Optimize Spot Instance usage: We implement strategies for reliable procurement.
  • Utilize free tier offerings (POCs): We take advantage of AWS free services for development and testing.
  • Negotiate with AWS: Consider volume discounts for larger usage commitments.

Summary:

Our new dedicated FinOps department marks a significant step forward in addressing the challenges of rising cloud costs amidst our clients’ growth.

By utilizing our expertise as an AWS Advanced Consulting Partner, we aim to optimize cloud expenditures through a comprehensive set of financial accountability tools, expert practices, and strategic resource management.

Our team of certified cloud FinOps practitioners are committed to delivering tailored financial management solutions, ensuring our clients not only achieve the best return on their cloud infrastructure investment but also continue to innovate and scale efficiently.

Through a focused approach on observability, resource optimization, pricing and discounts, and governance and automation, we are dedicated to empowering our clients with the strategies and support needed to effectively manage their cloud costs in alignment with their growth and innovation objectives.

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