CloudBolt Software today revealed it plans to infuse artificial intelligence (AI) into the financial operations (FinOps) capabilities it provides via its IT management platform over the coming year.
Kyle Campos, chief product and technology officer for CloudBolt, said given the inherent complexity of modern IT environments, there is a need to apply machine learning algorithms and other forms of AI to enable IT organizations to apply policies in real-time to reduce costs. That capability is especially critical in cloud computing environments where services are often invoked by developers with little to no oversight, he noted.
FinOps is a discipline that promotes a shared responsibility for an organization’s cloud computing infrastructure and costs. Rather than having disparate procurement teams working in silos to identify and approve costs, business, financial and IT leaders establish policies and best practices for usage that are programmatically enforced. The FinOps Foundation, an arm of the Linux Foundation, has been defining a set of FinOps best practices, but many organizations still lack the discipline required to implement them. One of the major reasons organizations lack this discipline is that many of them have been allowing application developers to provision cloud resources themselves. It’s not until the bill comes due at the end of the month that finance teams realize there is an issue when there is a sudden spike in costs.
Rather than deploying a separate platform to manage FinOps, CloudBolt is making a case for integrating a framework for managing FinOps within the same platform IT teams use to manage those IT environments. That approach makes it possible to apply FinOps policies in a way that ensures best practices for controlling costs are implemented without creating yet another silo within an IT organization, said Campos.
Running application workloads in the cloud is fundamentally different than running them in an on-premises IT environment where costs are largely fixed. Not many developers have much of an appreciation for the additional storage and cybersecurity expenses that are generated every time a new workload is added. As a result, many organizations lack visibility into the total cost of cloud computing until the monthly bill arrives. By then, it’s too late for IT teams to have any impact on the outcome.
In the face of ongoing economic uncertainty, more organizations are clearly moving to reduce cloud computing costs more aggressively. In an ideal world, IT teams would be able to instantly see what impact any change to an IT environment will have on costs as part of any scenario planning exercise, said Campos.
While most organizations would like to reduce their cloud costs, it’s just as important to ensure that the bills being incurred are predictable. Finance teams don’t appreciate surprises, no matter how important an application may be. IT leaders are now being held more accountable than ever to make sure cloud computing costs meet expectations from one month to the next. The challenge now is finding a way to inject controls in IT environments long after applications have already been deployed.
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