FinOps Analytics and Reporting

FinOps reporting entails consolidating and visualizing billing and licensing data across multi-cloud environments,  ensuring accurate and detailed insights. These reports facilitate Label Coverage Reporting, Business and  Cost Center Reporting, Product and Service Reporting, Environment Cleanup, and Resource Utilization Reports.

 

Reports Details

Label Coverage Report

Its critical to have maximum label coverage for Engineering and Finance. The label coverage report provides visibility on what percentage of resources are labelled.  Having more than 90% of all cloud resources labeled will provide visibility and control for: 

  1. Track costs by owner, cost center and business unit
  2. Track costs by product and service
  3. Complete margin analysis for by product and service
  4. Analyze cost by SKUs and Services
  5. Eliminate double counting of cost escalation and savings
  6. Identify areas for Cost Optimization and increasing Efficiency
  7. Implement Security and Compliance policies
  8. Generate alerts and notifications for cost thresholds and security warnings

Business and Cost Center Reporting

Business reporting includes tracking expenses by business unit, verifying billing accuracy, standardizing financial reporting, and mapping cost centers to projects. The goal is to allocate resource costs correctly across operational expenses (OPEX) and cost of goods sold (COGS).

  1. Total Cloud Cost by Business unit
  2. Billing Verification – Finance needs to make sure it is billed correctly by Google
  3. Standardize financial cost reporting and management
  4. Cost Center to Project Mapping reporting and verification
  5. Allocate GCP resource costs correctly to OPEX and COGS and other classification

Product and Service Reporting

Product reporting includes managing costs include feasibility analysis, cost forecasting, accurate cost calculations, product/service margin analysis, and unit cost optimization. Additionally, implementing detailed budget alerts for Finance and Tech is crucial.
 

  1. Feasibility Analysis -Identify product and services where it the cost is high
  2. Forecast cost at Products, Services and Data Pipelines cost using scaling factors
  3. Calculate the before and after change costs accurately
  4. Enable Product and Service level Margin analysis
  5. Enable Unit Cost Analysis and optimization for Products and Services
  6. Implement product and service budget alerts

Resource Utilization Reports

Efficiently manage resources by identifying temporary environments, enabling automatic cleanup for temporary resources, and scheduling shutdowns for non-production resources.
 

  1. Identify temporary environments so that they can be shut down
  2. Enable automatic clean up if the resource is meant to be temporary
  3. Shut down non production resources on weekends and holidays

Environment Cleanup

Efficiently manage resources by identifying temporary environments, enabling automatic cleanup for temporary resources, and scheduling shutdowns for non-production resources.
 

  1. Identify temporary environments so that they can be shut down
  2. Enable automatic clean up if the resource is meant to be temporary
  3. Shut down non production resources on weekends and holidays
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