What is FinOps and why it matters for business
During cloud migration, companies often face budget overruns of 15–20% due to inefficient resource utilization and a lack of transparency. FinOps helps solve this problem—an operating model that combines financial accountability with engineering teams to maximize the value of cloud investments.
Key stages of methodology implementation
- Inform: gathering cost data, resource tagging, and creating dashboards to visualize budgets by project.
- Optimize: rightsizing, using reserved instances, and removing unused resources, which can save up to 30% of the budget.
- Operate: continuous monitoring, setting limits, and integrating FinOps practices into DevOps processes.
Technological solutions from Ukrainian companies
Association members offer tools for effective cloud cost management:
- Data Management IG develops Data Governance strategies for accurate cost tagging and attribution.
- Softengi implements Platform Engineering services and AI solutions for automated anomaly detection and resource optimization.
- InBase offers the UnityBase low-code platform for rapid development of enterprise budget monitoring systems.
- SL Global Service provides managed IT operations and support services for continuous control of cloud infrastructure.
What changes for the sector
Uncontrolled cloud spending forces businesses to shift their focus from rapid migration to long-term cost efficiency. This trend drives the demand for FinOps expertise and specialized monitoring tools, positioning Ukrainian tech companies as key partners in global cloud cost optimization.
Practical steps
To successfully optimize your cloud costs, take the following practical steps:
- Begin with the Inform phase by auditing your infrastructure, tagging resources, and setting up budget visualization dashboards.
- Reduce waste during the Optimize phase by rightsizing instances and removing unused resources to save up to 30% of your budget.
- Partner with Ukrainian IT association members to implement specialized solutions, such as Data Management IG for governance, Softengi for AI-driven anomaly detection, InBase for custom budget monitoring, or SL Global Service for managed infrastructure support.
Prepared by a Software Ukraine member. Original publication.