What's new in Cloud FinOps?
Stephen Old and Frank Contrepois get together to discuss what's new in the world of cloud when it comes to FinOps. There are two monthly episodes, one where we'll discuss the top stories we've found from this month and a second episode where we bring in a friend of the show to talk to us about a topic of their choosing.
What's new in Cloud FinOps?
WNiCF - Interview with Nic Guerra - Cost accounting
In this interview with Nic Guerra, the unortodox accountant, Stephen an Frank learn about a new type of accounting...cost accounting. Frank never heard the term before. The biggest learning: cost is proactive.
The conversation delves into the critical distinction between cost and spend, emphasizing the need for a deeper analysis of variances in financial management. It highlights the importance of recognizing inefficiencies as opportunities for improvement, particularly in the context of cloud computing and resource allocation.
Takeaways
- Cost is not the same as a spend.
- There shouldn't be a taboo about inefficiencies.
- Understanding variances can lead to better financial decisions.
- Financial management requires a nuanced understanding of costs.
