Paper Title
A must for the CXOs to include in their agenda- Cloud FinOps
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Registration ID: IJNRD_185253
Published ID: IJNRD2212293
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Keywords
Cloud Finops, Finops, Cloud Management, Cost optimization, Budget control
Abstract
Cloud financial operations refer to managing and optimizing financial processes within an organization that uses cloud computing services. It is utmost important and niche field for the CFOs to master so that they are not lagging behind in their Digital transformation journey. It helps CXOs to ensure that the budget is align to the strategy for finance team and the budget is controlled through automation and effective processes. Cloud computing is a model of delivering computing resources (such as storage, processing power, and networking) over the internet rather than using local servers or personal devices. Cloud financial operations professionals work to ensure that an organization's financial resources are being used effectively and efficiently when using cloud computing services. Cloud financial operations includes tasks such as forecasting and budgeting for cloud expenses, managing financial risks associated with the use of cloud services, and analyzing financial data to identify trends and opportunities related to the use of cloud computing. One of the key benefits of cloud financial operations is the option to scale resources up or down as needed, which can help to reduce costs and improve efficiency. For example, rather than purchasing and maintaining expensive local servers, an organization can use cloud computing services to access the resources they need on an as-needed basis. Cloud financial operations can be particularly useful for organizations that experience fluctuations in demand, such as during peak seasons or in response to sudden changes in the market. Cloud financial operations also require a strong understanding of the various pricing models and billing structures offered by cloud providers, and the models can impact an organization's financial performance. For example, cloud providers may offer other pricing models, such as pay-as-you-go or reserved instances. Financial operations professionals need to understand the pros and cons of each model and choose the one that best meets the organization's needs. In addition to cost savings and scalability, cloud financial operations can help organizations improve financial visibility and control. By using cloud-based financial systems and tools, organizations can gain real-time visibility into their financial performance and make more informed decisions about their financial resources. Cloud financial operations can help improve the organization's financial health and stability. Overall, cloud financial operations are a critical function that helps organizations to effectively and efficiently manage and optimize their financial processes when using cloud computing services. It requires substantial financial acumen, analytical skills, and an understanding of cloud providers' various pricing models and billing structures.
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How To Cite (APA)
Raja Bhaiya Gupta (December-2022). A must for the CXOs to include in their agenda- Cloud FinOps. INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT, 7(12), c957-c957. https://ijnrd.org/papers/IJNRD2212293.pdf
Issue
Volume 7 Issue 12, December-2022
Pages : c957-c957
Other Publication Details
Paper Reg. ID: IJNRD_185253
Published Paper Id: IJNRD2212293
Research Area: Management
Author Type: Indian Author
Country: Pune , Maharastra , India
Published Paper PDF: https://ijnrd.org/papers/IJNRD2212293.pdf
Published Paper URL: https://ijnrd.org/viewpaperforall?paper=IJNRD2212293
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