Enterprises rely on the cloud to deliver agility, operational flexibility, and faster innovation. However, managing cloud costs is significantly different from managing on-premises data center costs. It can be difficult to achieve the visibility needed to optimize cloud resources and align cloud spend with business initiatives.
To address these challenges, many organizations are adopting cloud financial management, an essential approach to improve cloud operations and reduce wasted spend. This paper details a set of organizational best practices and principles, outlining key stakeholder groups, roles, and responsibilities, to help you plan, build, and execute a successful cloud financial management strategy.