Unearthing New FinOps Requirements and Advancing the Market at FinOps X 2024 Barcelona

This IDC Market Perspective discusses the FinOps X 2024 event in Barcelona, which highlighted the growing importance of FinOps in managing cloud costs and aligning cloud investments with business strategies. Key themes included the expansion of the FinOps community, the introduction of new framework elements like Scopes, and the emphasis on early adoption of FinOps in product life cycles. The event also showcased the FinOps Foundation's efforts in standardizing cloud billing data through the FOCUS project and integrating sustainability metrics into the FinOps Framework."More organizations are considering how FinOps practices can be used across their business, not only for cost control but also to drive efficiency and best practice. The work being undertaken by the FinOps Foundation helps align supplier and end-user strategies while promoting the benefits of FinOps beyond IT teams and into the business," said Penny Madsen, senior research director, Cloud and Edge Services at IDC.