Cloud Control ep. 23: Balancing the Scales: Cost, Technology, and FinOps

In this episode, Shon sits down with Dvir Mizrahi and Donal Burke as they explore how financial engineering integrates with cloud technology. They unpack the transition from traditional finance roles into dynamic FinOps practices, highlighting challenges, strategies, and the profound impact on business and technology frameworks. Listen as they discuss the evolution of FinOps, its role in cloud architecture decisions, and how companies are adopting innovative approaches to balance performance, cost, and efficiency in the cloud.

Episode summary

• 00:04 – Introduction of hosts and overview of the podcast focus on cloud computing.
• 00:31 – Introducing Donald Burke and his role in cloud optimization and FinOps.
• 01:03 – Introducing Devirvasani, head of financial engineering and FinOps at Wix.
• 01:47 – Devirvasani discusses transition from DevOps to FinOps.
• 03:04 – Shift from financial observability to a ground-up financial engineering approach.
• 03:13 – Intersection of technical skills and financial management in FinOps.
• 04:13 – Benefits of a bottom-up approach in implementing FinOps practices.
• 04:57 – Challenges faced when initially adopting a top-down approach to FinOps.
• 06:28 – Advantages of integrating FinOps into existing engineering processes.
• 07:22 – How reframing the narrative from cost-cutting to efficiency gained engineering buy-in.
• 08:32 – Discussion on improving FinOps practices to enhance buy-in and effectiveness.
• 10:45 – Technical considerations in FinOps – choosing the right AWS instances & regions.
• 13:15 – Role of consultants in spreading FinOps best practices across different companies.
• 14:51 – Training approaches for FinOps focused on real business and technical needs.
• 17:18 – Discussing multi-cloud strategies and optimizing workload placement.
• 19:35 – Role of tools in managing and monitoring FinOps activities.
• 22:05 – Impact of FinOps on technology choices and architecture within companies.

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