Learn why Technology Advisors embrace Financial Operations (FinOps) principles and how they leverage them to create effective enterprise sales strategies. FinOps has extended the Advisor’s role beyond traditional IT boundaries, making them more pivotal than ever in cross-functionally driving cloud business value.
Step 1 – Understanding
FinOps isn’t just a buzzword; it’s a strategic approach that maximizes the benefits of cloud technology. According to the FinOps Foundation: “FinOps is an operational framework and cultural practice which maximizes the business value of cloud, enables timely data-driven decision making, and creates financial accountability through collaboration between engineering, finance, and business teams.”
As a Technology Advisor, embracing FinOps means recognizing its significance in reshaping technology spending. You need to understand FinOps practices and priorities and align your strategies accordingly. One way to get started is to study the infographic below and familiarize yourself with FinOps terminology.
FinOps Framework by FinOps Foundation
Step 2 – Prioritizing
The FinOps Foundation conducts an annual survey called the State of FinOps, which has been available each January since 2020. Due to economic uncertainty, the top two priorities for 2024 are Reducing Waste and Managing Commitments. As can be seen below, the graphic lists the current FinOps key priorities.
State of FinOps by FinOps Foundation
Obviously you can use this data to inform your sales strategy, provider, and solution recommendations for your enterprise FinOps clients.
Step 3 – Implementing
Knowing that Reducing Waste and Managing Commitment-Based Discounts are at the top of your FinOps clients’ minds, basically you can start looking at provider portfolios and narrowing down your recommendations.
Particularly explore options like EnTelegent Solutions’ EnVision Life Cycle Management. EnVision expense and activity management provides a complete Centralized Inventory of all wireline and wireless services, providers, and locations, including assets, contracts, commitments, early termination penalties (ETPs), and other terms. This feature will help your FinOps clients determine what unused services to cancel, reducing waste.
For instance, if you are looking for a solution to manage commitment-based discounts, EnVision’s Carrier and Service Consolidation reduces costs and complexity while additional features such as Invoice Consolidation, Bill Pay, MACD, Centralized Help Desk, and Mobile Device Support streamline operations and free up resources.
Maximizing Cloud Value for Your Clients
Your role as a Technology Advisor extends beyond mere technology implementation; it’s about driving business value. By leveraging solutions like EnVision Life Cycle Management, you can help your clients unlock the full potential of the cloud. Whether through cost optimization, streamlined operations, or enhanced resource allocation, embracing FinOps principles positions you as a trusted partner in your client’s journey toward cloud success.
Ready to elevate your role as a Technology Advisor? Dive deeper into EnTelegent’s EnVision Life Cycle Management platform, explore its optimization features, and discover how it can empower you to drive tangible results for your clients. Contact us for more information.
