A leading electronics manufacturer collaborated with Infosys to implement FinOps practices, aiming to identify and optimize cloud spends across the organization. Phase 1 involved setting baseline savings targets and working closely with resource owners to provide cost-saving recommendations.
Key challenges included the absence of a robust governance model and revenue loss due to non-optimal utilization and poor tracking processes. However, Infosys was selected as a consulting partner in Q3 FY23 to implement best practices for governance and provide advisory services for FinOps, targeting savings of $3.11 million by July 31, 2024.
Key Challenges
- Absence of Robust Governance Model: Lack of a robust governance model hindered quick decision-making processes and efficient cost management.
- Revenue Loss: Non-optimal utilization and poor tracking processes resulted in revenue loss for the electronics manufacturer.
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The Solution
Enhancing Efficiency Through Cost Center Tagging and Allocation
Infosys utilized third-party tools to identify right-sizing recommendations for AWS and Azure resources, optimizing cost allocation and utilization, leveraging Infosys Cobalt framework. The FinOps team successfully implemented 5.15% of potential savings, amounting to $1.164 million to date, out of the targeted baseline savings of $3.11 million for year 1.
Revolutionizing Cost Efficiency: The FinOps Journey
- Governance Best Practices: Implementation of robust governance models for quick decision-making and efficient cost management.
- Advisory Services: Providing FinOps advisory services to optimize cloud spends and achieve targeted savings.
- Targeted Savings: Aiming for significant cost savings of $3.11 million by July 31, 2024, through strategic cost optimization initiatives.
Benefits
Robust Governance: Infosys as a consulting partner implemented governance best practices and provided FinOps advisory services.
Targeted Savings: Aimed for savings of $3.11 million by July 31, 2024, through efficient cost management and optimization strategies.
