CloudBolt Launches Next-Generation Enhanced FinOps Capabilities to Help Enterprises More Efficiently Solve Cloud ROI Challenges

North Bethesda, MD — CloudBolt Software (The Cloud ROI Company™), a recognized leader in cloud financial management, announced a series of enhanced FinOps capabilities to be introduced in 2024 that will redefine the FinOps landscape. Leveraging advances in AI and ML, along with industry-leading orchestration, the company aims to extend FinOps capabilities to any cloud environment and across every stage of the resource lifecycle. These advancements are expected to help all users place value at the core of every cloud decision.

FinOps combines financial management principles with cloud engineering and operations, enabling organizations to gain deeper visibility into cloud spending and obtain actionable insights to allocate and optimize cloud costs more effectively. Traditional FinOps solutions have often focused solely on retrospective analysis of company cloud spending (who spent what, when), and have therefore been mediocre and underperforming. Although research shows that 82% of companies now have formal FinOps practices in place, only 24% expect to see substantial impact within 12 months or less.

"For years, FinOps teams and IT leaders have been dealing with rising cloud costs without a clear understanding of the value their investments bring to the business. Enterprises have struggled with expensive, incomplete, and inefficient solutions that only address a small portion of cloud financial issues," said Craig Hinkley, CEO of CloudBolt. "We are responding to the market. The new cloud imperative is value-driven decision-making. At CloudBolt, our mission is to make this possible."

According to research and advisory firm Gartner®, Inc., "Current FinOps implementations lack augmented capabilities that provide intelligent observability linked to tailored recommendations and actions to intelligently optimize cloud spending." (Gartner, "Emerging Tech: Data Management Product Leaders Must Implement Augmented FinOps in Their Cloud Solutions," by Robin Schumacher, Adam Ronthal, October 7, 2022)

Augmented FinOps represents a significant evolution in cloud financial management.

"For the first time, practitioners will be able to leverage AI/ML-driven insights while applying intelligent automation and orchestration, both retrospectively and prospectively," said Kyle Campos, Chief Technology and Product Officer at CloudBolt. "This will ultimately enable users to achieve full cloud lifecycle optimization by converting insights into actions more quickly and confidently, maximizing cloud ROI and paving the way for solving higher-level business problems for customers."

CloudBolt's upcoming Augmented FinOps advancements focus on three differentiated capability areas:

• AI/ML-driven cost insights: Enhanced observability and analytics across different perspectives;
• Full lifecycle FinOps: Fostering automated, data-driven decisions across all resource stages with continuous cloud ROI improvement;
• Unified control framework: Converging public and private clouds into a unified cloud network, providing a single access point and user experience.

"For a long time, many companies were told to move everything to the cloud at all costs because everyone was convinced of a 'Cloud First' philosophy," Hinkley continued. "Our goal is to help organizations shift their mindset from 'Cloud First' to 'Cloud Right.'"

Customers and partners welcome this announcement.

"CloudBolt is transforming how we manage cloud resources by simplifying our automation and orchestration tasks, and their FinOps integration gives us better control over costs, ensuring optimal financial efficiency," said Cory Moore, VP of Infrastructure and Cloud Operations at BeyondTrust. "We are excited about CloudBolt's future direction and look forward to the new capabilities helping us further maximize cloud ROI."

To learn more about why combining FinOps with AI/ML and a full lifecycle approach is critical to maximizing cloud value and ROI, join CloudBolt's webinar on February 22, 2024, at 12:00 PM ET, featuring special guest Tracy Woo, Principal Analyst at Forrester Research, who focuses on cloud cost management and optimization.Register here。

The FinOps Foundation, part of the Linux Foundation's nonprofit technology consortium, focused on advancing the FinOps profession and practice, today announced that CloudBolt Software has become a Premier member.Learn more。

GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.

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About CloudBolt

CloudBolt is The Cloud ROI Company™. We focus on solving the most pressing issue in cloud today: improving return on investment (ROI). With the introduction of Augmented FinOps capabilities, CloudBolt is leveraging AI/ML-driven insights and applying intelligent automation and orchestration both prospectively and retrospectively to make full cloud lifecycle optimization a reality. By bridging the 'insight-to-action' gap, CloudBolt helps organizations unlock the full potential of any cloud network. By simplifying, clarifying, and optimizing spend and control, we help organizations put value at the core of every cloud decision. For more information, visit www.cloudbolt.io。