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As enterprises have moved their workloads to the cloud, hybrid and distributed cloud environments have become the norm for most companies. Eighty-five percent of respondents to a new Harvard Business Review–Analytic Services survey say their organizations use at least two clouds—and a quarter of those respondents are using five or more.
But not all organizations are managing multiple clouds effectively or economically enough to achieve these goals. Without a consistent means to determine where, when, and how to run their cloud workloads, organizations may find it challenging to capture all the benefits they anticipate from their While various functions and practices may have competing interests, a critical step in managing multiple clouds is coordinating and focusing on prioritizing the organization’s overarching goals, such as operational efficiency, cutting expenses, accelerating digital transformation, increasing productivity, and boosting security.
To address these challenges, more than half the respondents HBR–AS surveyed say their organizations have coordinated their approaches to FinOps toEstablishing a FinOps practice within an organization encourages a cross-functional collaboration of technology, operations, and finance teams for increasing financial accountability on cloud investments.
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