As businesses move to the cloud, figuring out how and where they spend their money becomes increasingly difficult. Different SaaS providers and cloud platforms use their own definitions of how they report what these companies spend. On top of that, they make that data available in different formats, too. All of this has given rise to FinOps, a new practice that aims to bring more accountability to cloud spending.
the FinOps Foundation today announced the first preview of his foundational project: the Open FinOps Cost and Usage Details (FOCUS). The companies involved here include companies you’d normally think of as competitors, including AWS, Microsoft, Google, Oracle Cloud, IBM, Meta, VMware and major cloud users like Walmart and Capital One, as well as service providers such as Atlassian, Twilio, Datadog and Snowflake. The fact that these companies are working together to make this specific shows how big a problem this is.
“We built FOCUS as the cornerstone lexicon of FinOps by providing an open-source, vendor-agnostic specification that reflects a unified schema and language,” said Mike Fuller CTO of the FinOps Foundation. “With this release, we pave the way for FOCUS to foster collaboration with major cloud providers, FinOps vendors, leading SaaS providers, and forward-thinking FinOps enterprises to build a unified, serviceable framework for cloud billing. data, increasing trust in data. and making it easier to understand the value of cloud spend.”
The idea behind FOCUS is to create a basic framework that normalizes cost and usage data between SaaS and cloud providers. The spec itself (PDF) includes definitions for commonly used terms and the types of standards that providers must include.
Before the specification reaches its 1.0 release, project members expect to be able to take the spec and offer a library of real-world use cases curated by FinOps practitioners from such as Capital One, etc.
“The FinOps Open Cost and Usage Specification (FOCUS) – an initiative driven by the FinOps Foundation – is the result of years of effort from organizations frustrated by large and complex bills,” Forrester analyst Lee Sustar THE audience earlier this year. “Because of its support of cloud users such as large banks and retailers, FOCUS is gaining momentum.”