The term FinOps (Financial Operations) is primarily found in the fields of Digital Transformation, Big Data and Smart Data, as well as eCommerce and Digital Retail. It describes a modern approach to how companies can better manage and optimise their costs and spending on digital services – especially for the cloud.

Instead of just IT or accounting being responsible for expenses, FinOps involves multiple departments working together: IT, procurement, and finance communicate with each other to save money and use resources more efficiently. This is particularly important for companies that process a lot of data or offer their products and services online, and therefore flexibly purchase computing power from the cloud.

A vivid example: An online shop uses large amounts of cloud storage space daily. Through FinOps, those responsible keep a close eye on how much they are paying for storage, where they can save money, and which subscriptions might be redundant. This not only improves the quality of the offering but also keeps costs under control. In short, FinOps helps companies get the most out of their digital infrastructure and makes costs transparent.

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