FinOps, Cloud Cost Management, and Governance

Oracle Cloud Infrastructure (OCI) FinOps, cloud cost management, and governance services help customers track and budget cloud costs, optimize and reduce spending, and operate with greater efficiency through improved governance. These services empower leaders to advance their businesses through cost transparency, optimizations, and actionable recommendations.

Oracle is a Premier Member of the FinOps Foundation

Oracle continues to support the field of cloud financial management by becoming a Premier Member of the FinOps Foundation. This nonprofit foundation is part of the Linux Foundation and promotes collaboration among professionals in the field.

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Optimize cloud investments with help from FinOps consultants

The Oracle Global Licensing Advisory Services (GLAS) team helps organizations optimize cloud investments and align cloud usage with financial goals by providing cost visibility, licensing guidance, and financial governance.

Learn more about GLAS
Oracle supports FOCUS to level the multicloud playing field

The FinOps Cost and Usage Specification (FOCUS) is an open source specification that provides consistent cost and usage data across different clouds to reduce complexity and support multicloud decision-making.

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Benefits of OCI’s FinOps, cost management, and governance services

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FinOps and cloud financial management services

FinOps

FinOps Hub

Get an overall view of the most common cost management features with FinOps Hub, the central location for cost management resources in the OCI Console.

  • Plan monthly budgets to monitor actual and forecasted usage.
  • Monitor subscription usage and historical usage trends.
  • Investigate the resource groups with the greatest impact on cost.
  • Optimize resource usage.

Inform

Subscriptions and Payments

Subscriptions lets you view your subscriptions to applications and services as well as related usage details such as billing schedules and rate card information. Invoices and Payment History allow you to view, pay, track, and monitor your invoices. With these tools, you can track the following:

  • Usage information
  • Billing schedule
  • Rate card
  • SaaS application usage
  • Payment and billing data

Cost Analysis and Reports

Cost Analysis can help you visualize and track your spending based on your preferred parameters. Cost reports give you a breakdown of your invoice line items at resource-level granularity. This allows you to make better-informed cloud spending decisions.

  • Cost reports are generated every six hours.
  • Daily usage reports are automatically generated.
  • Generate custom cost analysis reports and save them.
  • Estimate future usage based on past usage data.

Budgets and Forecasting

Budgets allow you to set thresholds for your spending on OCI. You'll get notifications if you approach a spending threshold.

  • Customize notifications and get alerts on your actual or forecasted spending.
  • Set your budgets using meaningful dimensions such as tags, compartments, and tenancies.

Cost Estimator

OCI Cost Estimator helps you estimate your monthly usage and costs for OCI services before you commit.

  • Easy-to-use evaluation
  • Bookmarking and sharing capabilities

Optimize and reduce costs

Cloud Advisor

Cloud Advisor enables you to identify underutilized resources, quickly rightsize your resources, and surface recommendations to improve high availability and security to help you use your cloud resources more efficiently.

  • View recommendations for cost optimization, performance, high availability, and security.
  • Easily implement recommendations to optimize cloud environments.
  • Report on Oracle Cloud Infrastructure Compute, Database, Storage, Load Balancer, and more.

Oracle Support Rewards

Accrue rewards based on your OCI usage and decrease your Oracle support cost with Oracle Support Rewards.

  • Track accrued rewards.
  • Dive deep into the usage that earned the rewards.
  • View the redemption codes associated with a subscription.

Operate

Tenancy Management

Organization Management enables you to build, scale, and govern your multitenancy environment. The tenancy explorer and Domain Management help you govern your footprint on OCI.

  • Create new or link existing tenancies to the organization for centralized management.
  • Share subscriptions across tenancies.
  • Manage service restrictions, allowable regions, and tags across the organization.
  • Centrally manage cost and governance as the parent tenancy.
  • Get a comprehensive view of your resources with the tenancy explorer.
  • Add your own domain names with Domain Management.

Manage Resource Metadata

Use tagging to add metadata to resources. Use tags to organize and list resources based on your business needs.

  • Create, manage, and attach tag namespaces, tag keys, and default tags.
  • Use tags to track costs and manage access.

Control User Access

Use Quotas in OCI to control and enforce a limit on resource consumption within your tenancy for a specific compartment. Create policies to enable access for cost management.

  • Stay in control of your budget by setting up service quotas.
  • Set a policy with simple declarative language that’s similar to the identity and access management policy language.
  • Allocate resources with a high level of flexibility to optimize your budget.
June 20, 2024

Launch of FinOps Hub: Simplified Cost Management Ex perience

James DeLoid, Principal Product Manager, OCI Layer Services

Oracle Cloud Infrastructure (OCI) has consolidated insights from the four cost management services—Subscriptions, Cost Analysis, Budgets, and Cloud Advisor—into one new overview page: FinOps Hub. Businesses can track cloud resource costs more closely than ever. FinOps Hub helps practitioners answer these questions: Are budgets on track? Do we have enough credits left so we don’t pay overages? What resource groups have the greatest impact on cost? Where can I optimize costs? How can I prevent unauthorized spending?

Read the complete post

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