The challenge
Public cloud providers have fueled business growth, innovation, and agility. However, the cloud consumption model is a double-edged sword that has disrupted traditional technology sourcing and financial management practices. Companies have witnessed business cases fall apart as they have executed against their cloud strategy.
Our cloud financial operations service offering takes an agile approach to the FinOps lifecycle to inform cloud spend transparency, help optimise cloud expenditures and operate with the intention to maintain cloud savings
PwC’s FinOps offering addresses the following core ideologies
- Increasing cloud spend transparency across the enterprise
- Identifying opportunities and provide solutions to optimise cloud spend
- Developing processes and governance to sustain and mature cloud spend operations
Inform
01 Cloud spend transparency
- Rationalise client cloud spend with PwC proprietary tooling (provider agnostic)
- Visualise cloud spend data to enable accountability
- Determine the total cost of ownership to migrate and host workloads in the cloud.
Optimise
02 Cloud spend optimisation
- Design/refresh tagging policy and operationalise
- Allocate cloud costs to downstream business units
- Identify optimisation opportunities across and design processes to continually improve
Operate
03 Mature cloud spend operations
- Establish cloud center of excellence (steering group) with policy and standards
- Sustain cloud efficiencies through automation, architecture, controls and a flexible operating model
- Design processes to continually improve cost savings
Why work with us?
Holistic approach for cloud cost optimisation
Our holistic approach covers six domains for sustained efficiency and cost reduction:
- Transparency: Showback, reporting/dashboarding, tagging, cloud subledger
- Process: Capacity/utilisation management, cost management, budget/ forecasting, procurement/ vendor management and continuous service delivery
- People: Executive support, FinOps operations culture, finance-procurement-IT interaction
- Governance: Cloud center of excellence, compliance/policies, escalation path and exception management
- Tools: Cloud cost management, cloud reporting, monitoring and alerting
- Automation/architecture: Database, PaaS, serverless and containers
Proven accelerations and framework
- Cloud efficiency scorecard: PwC's cloud efficiency scorecard helps to identify weakness across the four domains and provides recommendations to improve cloud spend.
- Optimisation techniques: An extensive library of methods to improve cloud spend for all major cloud service provider. The techniques are based on PwC and industry leading practice.
- Strategic alliances: spanning cloud providers (Amazon Web Services, Microsoft Azure, Google Cloud Platform) and other cloud integration providers.
Deep financial audit and cloud expertise
- Our deep expertise in financial audit and operational excellence, along with our deep knowledge in cloud, provides unique capabilities for cloud cost effectiveness.
- Over 3,500 cloud practitioners across PwC's global network.
- A cloud innovation lab that is geared towards advancing knowledge, leading practices, and insights.
- Over 800 cloud engagement performed over the past 12 months at over 550 clients.
- Over 40% of clients engaged PwC for additional cloud services.
Leader in worldwide services
PwC named a leader in worldwide cloud professional Services by IDC MarketScape, 2022
- “Buyers rate PwC highly for its innovation capabilities and its overall prospects. IDC notes PwC's employee strategy and the breadth of its offerings around applications-centric platforms. PwC's approach to cloud is about solving business problems in a way that they are supported and enabled by technology, but not driven by technology alone.”
Success stories
- For a large financial service institution, to manage the cost and more transparency, PwC implemented a technology business management (TBM) reference taxonomy solution and the client’s Apptio cost management system to design a new IT cost allocation model covering both labour costs and IT hardware/software assets.
- To build governance and cost control structures for a large regional bank, PwC created a detailed TCO model with the client’s finance team that accounted for DC facilities, network connectivity, software licensing, and labour costs.
- A large-scale cybersecurity software company decided to migrate its product workloads to a public cloud platform to eliminate nearly $25m in enterprise-wide infrastructure costs and introduce greater resource flexibility on a global scale. PwC supported the implementation of cloud governance processes around financials, tools and automation. This included governing, managing, and optimising public cloud spend through initiatives such as tagging compliance and KPI tracking.
Sources
- Flexera, Title: Flexera 2022 State of the Cloud Report, Date Published: 2022
- Gartner, Title: Actively Manage the Accelerating Shift to Public Cloud, Date Published: 2022
- Gartner, Title: Predicts 2022: Data and Analytics Leaders Must Expand Value While Managing Cost and Risk, Date Published: 2021
- Flexera, Title: Flexera 2022 State of the Cloud Report Date Published: 2022
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