In this Digital CIO Summit moment, excerpted from the digital event which took place from April 4-6, Kevin Lamb, Product Manager, Turbonomic – Cloud, IBM Turbonomic, explains FinOps can drive value through strategic goals.
Highlights
00:05 — Lamb defines FinOps as “finance plus DevOps,” which means that different parts of the organization are involved here.
00:25 — Driving value requires an understanding of what value means to those different parts of the organization. There are three legs to FinOps strategic goals:
- Inform
- Optimize
- Operate
00:40 — “Inform” involves the value being driven to the finance team. “It’s no longer, ‘How much are we spending on this mainframe?’ It’s ‘How much are we spending on different services across different clouds for different applications?'” Lamb explains. The CFO needs to answer the “how much are we spending” question.
01:01 — The finance team’s goal, objective, and value is just knowing and informing how much is being spent across the different applications.
01:13 — The second leg involves understanding and knowing where that money is going to determine how to spend less and optimize. Informing helps drive optimization; DevOps and the engineering department own that.
01:43 — Those departments are also “trying to transform and deliver more mission-critical applications at a faster rate, with more innovation,” Lamb says.
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