Oracle joins the FinOps Foundation

February 9, 2022 | 3 minute read
Arun Ramakrishnan
Senior Principal Product Manager
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We’re proud to announce that Oracle is now a member of the FinOps Foundation. The foundation is dedicated to advancing people who practice the discipline of cloud financial management through best practices, education, and standards.

FinOps is a portmanteau of finance and DevOps, stressing the communications and collaboration business and engineering teams, which cloud has made a necessity, given highly variable spend and the distributed speed of deployment. FinOps isn’t focused solely on controlling costs but rather enabling organizations to maximize the value of their cloud investments. This discipline enables accountability and ownership across functions such as engineering, product, and finance to help a company take advantage of the variable cost model that the cloud offers to deliver products at a faster cadence, while maintaining unit cost and spend predictability.

We’re excited to join like-minded organizations in the FinOps Foundation to shepherd the shifting of workloads to the cloud. We intend to enable customers to transition from a reactive model of monitoring costs to a proactive model, where predicting costs and marrying them with performance are ingrained in every engineering decision.

“We’re thrilled to welcome Oracle as a member of the FinOps Foundation,” says J.R. Storment, executive director of the FinOps Foundation. “The practitioner community greatly benefits as major cloud providers like Oracle align their product offerings to FinOps principles and standards to enable organizations to get the maximum value out of cloud investments.”

FinOps Tools Matrix

Oracle Cloud Infrastructure (OCI) offers the following suite of tools to help customers from the perspective of a FinOps function:

FinOps function OCI Tool
Cloud cost planning OCI Cost Estimator
Billing and reporting Cost Analysis
Cost and usage reports
Detailed billing analysis OCI Cost Governance and Performance Insights solution
Invoicing Invoices
Payment history
Billing schedule
Forecasting Forecasting in Cost Analysis
Tagging Tags
Alerts and notifications Budget alerts
Template driven deployment Terraform
Controls Quotas
Enforcing budgets using functions and quotas
Recommendations Cloud Advisor

You can find a comprehensive list across cloud providers at the FinOps Tools Matrix.

Cloud success

We’re deeply committed to making our customers successful in the cloud. Check out our suite of tools and let us know how we can help you in your FinOps journey by leaving us a comment.

Arun Ramakrishnan

Senior Principal Product Manager

I am a part of the OCI Commercial Systems Product Team. I have an extensive background of solving customer problems with delightful technical solutions.

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