Here is a detailed summary of the video transcription in Markdown format, with sections for better readability and single-level bullet points:
The Future of FinOps: Governance by Default
Defining Cloud Ops and FinOps
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Cloud Ops:
- Cost management
- Identity management
- Infrastructure management
- Developing automation
- Focused on the delivery, optimization, and performance of infrastructure
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FinOps:
- Maximizing the business value of the cloud through collaboration
- Three high-level phases:
- Inform: Gain visibility into cloud spend and allocate it effectively
- Optimize: Reduce inefficiencies and waste to optimize cloud spend
- Operate: Establish continuous improvement processes and policies to mature the FinOps practice
The Need for Cloud Ops and FinOps Collaboration
- Hypothetical scenario: A rushed cloud account provisioning leading to a $50,000 spend spike
- Key takeaways:
- Combining Cloud Ops and FinOps allows each team to leverage their strengths
- Proactive governance helps mitigate risks and secure cloud budgets
Governance by Default
- Visibility: Integrating all cloud management tools into a single view
- Guard rails: Proactively defining and automating company policies and compliance
- Access control: Automating least-privilege access for developers and engineers
- Cost control: Automating financial policies and guardrails
Putting Governance by Default into Practice
- Example of a governance by default approach for a sandbox account:
- Automatically provisioned with least-privilege access
- Restricted to specific developers and services
- Enforced tagging and compliance policies
- Financial policy to limit daily spend
Enabling Governance by Default with Kion
- Kion features to support governance by default:
- Action plans: Metadata-driven automation of policies
- Financial enforcement: Automated actions based on cost thresholds
- Custom variables: Enforcing tagging and compliance policies
Key Takeaways
- FinOps and Cloud Ops are better when paired together
- Embracing automation and proactive governance enables greater efficiency and cost savings
- Organizations that adopt governance by default will go faster, with less risk, and maximize the business value of the cloud