Successful Cloud Financial Management is Successful Financial Management
Cost Governance is an essential part of successful Financial Management. Continuously analyze and report spend by cost center, drive accountability against budgets, and find opportunities to optimize your cloud spend. How does Cost Management actually fit into the overall structure of Governance?

 

 

Let us focus here on Cost Management. Use your on-premise Cost Management learnings to construct your Cloud Cost Management. After alining of on-premise and Cloud Cost Management you are in the unique position to compare and manage your operation investment regardless of the deployment method. You now have:

  • Visibility of your Cloud Costs
    With granular visibility into all your cloud environments, learn which departments, teams, projects, or applications are accountable for driving cloud cost and usage and hold them accountable using chargeback and showback. Track these patterns over time to accurately forecast future budgets and reduce miscalculations.
  • Optimize your Cloud Costs
    Reduce the amount of time spent manually managing Reservations and Savings Plans using optimization and amortization capabilities. Quickly identify opportunities to reduce wasted spend with custom rightsizing recommendations built with your workloads in mind.
  • Govern Spending by Line of Business
    Ensure lines of business are complying with budget guidelines by proactively alerting stakeholders when cost centers are forecasted to exceed predefined budgets or spending anomalies are detected. Use our capabilities to automate cost-saving practices by building governance policies that monitor your environment for opportunities to reduce wasted spend.
  • Build a Culture of Financial Accountability
    Easily align cloud financial data to strategic business metrics such as gross margins and cost of goods sold to establish common goals across your organization.

Based on Tom Demarco’s quote „You can’t control what you can’t measure“ you are now able to compare your operational investment. It is satisfactory to decide based on solid numbers which deployment option fits best.

When transitioning from a capex (often on-premise) model, where many costs are fixed at the implementation of a project and over a long period of time, to an opex (often cloud) model, where costs scale up and down with the usage of the system, you often require cost management tools to understand, control and communicate these cloud costs within your organization.

Implement your successful Financial Management on Oracle Cloud

Our successful Cost Controler, Jenet in our example aim to manage cloud budgets, stay on top of cloud spend and always like to optimize cost for cloud usage.


 
Oracle provide needed capabilities to you. In the following sections you see how you are able to meet these needs like Predictability and Control, Visibility, Optimization, Extensibility and more.

 

Cloud Cost Governance accompanies you on your way, starting with an initial overview, adding governance in general and cost governance in particular. In addition to the “out of the box” capabilities, the “more advanced” capabilities options to make your optimal cloud cost governance a reality are also deepened.
For German users, the mapping of the „Deutsche Standardkontenrahmen“ SKR 03 and SKR 04 is certainly of particular importance. In the OCloud Framework: Landing Zone you can get an idea of the practical implementation.

How to start the journey to your successful Financial Management

Read through Cloud Cost Governance. Ask your Financial Management of this fit into their expectations. Ask your IT management whether you are able to implement this quickly and without great effort.
Start now – We help.

Want to know more?

Oracle Cloud provide you a comprehensive set of possibilities. Starting with Oracle Architecture Center (providing a huge amount of Reference Architectures) going forward with Oracle LiveLabs (gives you access to Oracle’s tools and technologies to run a wide variety of labs and workshops) and not ending with Oracle Cloud Infrastructure Service Level Agreement (SLA) for Availability, Manageability and Performance.