FinOps
Technology & Computing abbreviation · Cloud Computing
| Stands for | Financial operations (cloud) |
|---|---|
| Categories | Technology & Computing |
FinOps stands for Financial operations (cloud), a cloud computing abbreviation.
A practice in which finance, engineering and business teams collaborate to understand, control and optimize cloud spending, using cost visibility, allocation tags, budgets and commitments such as reserved capacity.
Example: The FinOps review found $40,000 a month in idle databases and oversized instances.
Usage notes
The FinOps Foundation, launched in 2019, joined the Linux Foundation in 2020 and publishes the FinOps Framework, which describes three phases: inform, optimize and operate. Pay-as-you-go pricing lets costs grow unnoticed, so tagging resources by team is usually the first step.
Related abbreviations
More cloud computing abbreviations
- ECS – Elastic Container Service
- EFS – Elastic File System
- EKS – Elastic Kubernetes Service
- ELB – Elastic Load Balancing
- FaaS – Function as a service
- FedRAMP – Federal Risk and Authorization Management Program
- GCE – Google Compute Engine
- GCP – Google Cloud Platform
- GCS – Google Cloud Storage
- GKE – Google Kubernetes Engine
- HA – High availability
- HCL – HashiCorp Configuration Language