AUSTIN, Texas--(BUSINESS WIRE)--Aurea CloudFix, a software company that helps AWS customers realize nonstop, easy, and automated savings, announced today its Founder Rahul Subramaniam has been elected to the FinOps Foundation’s Governing Board. The Governing Board drives the overarching strategy for the Foundation, which establishes FinOps best practices & standards, delivers education, and creates community connections to help organizations build and develop their FinOps practices.
To initiate meaningful discussions on how to realize – not just find – cloud cost efficiencies, Rahul Subramaniam and J.R. Storment, executive director of the FinOps Foundation, hosted a FinOps Roundtable at AWS re:Invent, which discussed a myriad of issues when it comes to managing cloud costs.
Companies across sectors are finding their cloud costs rising year-over-year. On October 31st, 2022, Gartner® predicted that "worldwide end-user spending on public cloud services will grow 20.7% in 2023" in their press release, Gartner Forecasts Worldwide Public Cloud End-User Spending to Reach Nearly $600 Billion in 2023. Similarly IDC reports, cloud spending represents approximately 30% of overall IT budgets. IDC also predicts "80% of organizations using cloud services will establish a dedicated FinOps function."
With a recession looming, many companies are focusing on the value of their IT spending so that they can invest more in cloud innovation and better position themselves for post-recession growth. As an evolving cloud financial management discipline and cultural practice, FinOps enables organizations to get maximum business value by helping engineering, finance, technology and business teams to collaborate on data-driven spending decisions.
“Throughout my career, I’ve participated in over 150 acquisitions, and in nearly every instance the company’s infrastructure has lots of waste and public cloud overspending,” said Subramaniam. “By joining forces with other top thinkers on cloud financial management, we’re able to establish guidelines that help companies create effective FinOps practices that will drive efficiencies and cut down waste.”
Under Subramaniam’s leadership, CloudFix has helped companies realize immediate and compounding cloud savings through the automation of AWS-approved, simple, and safe fixes. Believing strongly in cost optimization over cost-cutting, CloudFix helps organizations optimize their core infrastructure, so it can reinvest savings into modernization services that set the company up to thrive throughout a recession and beyond.
“While cloud spending during the pandemic has only continued to rise, organizations are now more focused on the value that is delivered from that investment,” said J.R. Storment, executive director of the FinOps Foundation. “To allow them to meet their innovation goals and deploy new products and services, they need best practices, tooling and a supportive community around FinOps they can rely on more than ever. By expanding our board to include Rahul’s many years of deep industry experience and knowledge, we continue to meet the growing needs of the community.”
Rahul joins the likes of top leadership from McKinsey & Company, Deloitte, and Google on the FinOps Foundation’s Governing Board.
About Aurea CloudFix:
Aurea CloudFix helps companies quickly realize immediate AWS savings by easily finding and optimizing often-overlooked, risk-free AWS cost optimizations. Used in over 45,000 AWS instances, CloudFix saves companies up to 20% on their AWS bill in 5 simple clicks. As big believers in the future of AWS, CloudFix focuses solely on optimizations that are simple, non-disruptive, and not risky to company workflows. For more information, visit CloudFix.com.
About the FinOps Foundation
The FinOps Foundation (F2) is a non-profit trade association made up of FinOps practitioners around the world including Atlassian, Autodesk, Gannett, HERE Technologies, Just Eat, Nationwide and Spotify. Grounded in real world stories, expertise, and inspiration for and by FinOps practitioners, the FinOps Foundation is focused on codifying and promoting cloud financial management best practices and standards to help community members and their teams become better at cloud financial management.