Flexera Drives FinOps Best Practice on Flexera One Cloud

ITASCA, Ill., June 16, 2022 (GLOBE NEWSWIRE)-Flexera, the company that helps organizations maximize business value from their technology investments, today announced new features. product and industry momentum for Flexera One Cloud Cost Optimization.

The main Flexera platform, Flexera One, is the first of its kind: an award-winning platform that delivers the power to reduce risk, reduce costs, and maximize every investment in technology. It offers technology value optimization (TVO) through IT visibility, IT asset management (ITAM), cloud cost optimization (CCO), and cloud migration and modernization. Flexera One allows businesses to control their journey in the cloud using:

  • Definitive technology source data. Flexera One offers comprehensive and normalized cost visibility in the data center, SaaS and cloud through unique discovery and the unmatched Technopedia catalog of IT product reference data.
  • Consumption intelligence. Flexera One provides savings on licensing costs by applying usage rights and rightsizing investments. Flexera’s Internal Customer Research found that customers save more than 30 percent with this technique.
  • Automatic portfolio management. Flexera One continuously optimizes business agility by automatically optimizing cost and feeding compliance and cost data to other IT solutions through outgoing and incoming APIs.
  • Hybrid IT optimization. Customers use Flexera One data for negotiations with major vendors, including Microsoft, IBM, Oracle and SAP.

Flexera One FinOps Innovation
Flexera continues to work with its customers and the wider FinOps community. Recent Flexera One Cloud Cost Optimization innovations include:

  • Cloud spend anomaly detection: analysis and detection of cloud spend anomalies based on any dimension. Choose business dimensions across multiple cloud costs. Look within automatically calculated account -level limits and determine which services are driving outliers.
  • Cloud spending forecast: straight line, linear regression and moving average, configurable look back, projection options, and categorization according to associated dimensions.
  • Usage forecast: use of the project by region, account or business dimension to support commitment and capacity planning decisions.
  • Cross-platform cost ingestion: typically bill ingestion of any cloud or other platform costs. Flexera supports Alibaba Cloud, Azure China, Oracle cloud and the ingestion of data from any other service or source, including labor costs and full-time equivalent (FTE), on-prem licensing or any cost to provide a total cost of ownership (TCO) view.
  • Automation engine for unit economics: production of unit economics KPIs using Flexera’s automation engine to take other metrics, such as usage data from other sources, to generate relevant cost of goods measures (COGS). This includes FinOps best practice KPIs (such as cost per instance hour) and other business KPIs.
  • Contextual multi-cloud data: complement existing hybrid and multi-cloud tagging techniques by ingesting attributes from CMDBs, enterprise architecture tools or other repositories.
  • Integration with existing tools: push cloud spend recommendations to existing tools, such as JIRA and ServiceNow, using Flexera’s automation engine. Engineers can use these existing tools to prioritize optimization initiatives.
  • Money adjustment program: automatic conversion of cloud costs to any currency by integrating with Xe.com. This makes multi-cloud strategies more effective for global businesses that work with multiple currencies.

Growing Leadership in the FinOps Community
Beyond product innovation, Flexera’s commitment to the field of FinOps includes active participation in initiatives that help advance cloud financial management.

to Flexera Brian Adlersenior director, cloud market strategy, and Jeremy Chaplinthe senior cloud solution architect, will speak at FinOps X in Austin, TX. The session, FinOps & IT Asset Management, The Partnership for Success, is on Monday, June 20, from 4:10 to 4:40 pm CDT. The FinOps Foundation hosts the FinOps X event as a gathering place for engineers, FinOps practitioners, finance people, architects, and anyone involved in cloud value management.

Other highlights of Flexera’s leadership in the FinOps community include:

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About Flexera
Flexera delivers SaaS-based IT management solutions that enable businesses to accelerate digital transformation and maximize the value of their technology investments. We help organizations let their IT with specific visibility into complex hybrid IT ecosystems, providing unparalleled IT insights that allow them to seize technology opportunities. And we help them change their IT with tools that deliver actionable intelligence across an ever-expanding range of dimensions to effectively manage, manage and optimize their hybrid IT estate. More than 50,000 customers have subscribed to our technology value optimization solutions, delivered by 1,300+ enthusiastic team members worldwide. To learn more, visit flexera.com

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