Cloud Finance Fintech News

Kion Strengthens Multicloud FinOps Capabilities with New Support for FOCUS and Oracle Cloud Infrastructure

Kion Strengthens Multicloud FinOps Capabilities with New Support for FOCUS and Oracle Cloud Infrastructure

Company offers a single platform that merges FinOps with CloudOps to provide policy-based ‘governance by default’

FinOps X – Kion, the leading automated CloudOps platform for multicloud, today announced support for the FinOps Open Cost & Usage Specification (FOCUS) as well as Oracle Cloud Infrastructure (OCI), helping customers to better optimize and operate cloud spend across multicloud infrastructure. Kion is supporting the recently announced FOCUS v1.0 from the FinOps Foundation, an open-source specification designed to normalize cost and usage billing data across cloud providers. Kion is also providing support for Oracle Cloud Infrastructure, in addition to existing capabilities for AWS, Azure, and Google Cloud (GCP). This new support broadens Kion’s financial management and operations capabilities to further pair FinOps with CloudOps; helping cloud teams better operate multicloud through policy-based governance and automation.

Cloud billing files are typically large, complicated datasets, leaving each provider with a different schema for their reports. This inconsistency makes it challenging for users to combine files into a singular view, often missing duplicate information across providers. FOCUS v1.0, built by FinOps practitioners and end users who understand these pain points, simplifies billing data into a common format to empower users to easily identify and manage all their cloud spend in a single structure. In support of this language simplification, Kion is offering support within its platform to allow customers to use FOCUS as their preferred billing file. Using FOCUS files, Kion will continue to iterate and add enhancements to its reporting capabilities.

Read MoreGlobal Fintech Interview with Andrey Korchak, CTO at Monite

“Kion is committed to being an active member and contributor within the FinOps Foundation. We believe in the fundamental direction the Foundation is promoting with the FOCUS specification, and we look forward to continuing to shape our product vision to align with critical initiatives like FOCUS,” said Tatum Tummins, FinOps Product Manager at Kion.

In addition, the company has also added FinOps support for Oracle Cloud Infrastructure. This new support will provide customers with financial visibility to manage infrastructure, optimize costs and enforce financial controls for those using OCI. OCI is growing in usage for both commercial and public sector organizations and now with Kion’s support, customers will be able to analyze cloud financial data across four of the most utilized public cloud providers in a single platform. Kion offers a unique hierarchical org chart that aligns cloud spend and policies to organizational units such as departments and business units so teams can improve financial accountability.

“We are seeing an increase in current and prospective customers with OCI infrastructure, and it’s important to us to meet those needs and provide users the ability to manage and drive value across all major cloud service providers. Every piece of cloud infrastructure an organization owns should be easily accessible, visible, and manageable from one place. We look forward to continuing to execute on our multicloud approach to CloudOps,” said Tummins.

Tummins continued, “As cloud costs increase, the need for financial insight in cloud operations is growing, and as such, we’ll see more organizations understand the role FinOps plays in the future of their business. We firmly believe the fundamental direction of the market is multicloud and the future of Cloud Operations includes an increase in responsibilities related to FinOps. Our vision is to help CloudOps teams with their mission in solving cloud governance more holistically with a single platform that provides policy-based controls and guardrails spanning security, compliance, and cost.”

Kion will support OCI in the company’s upcoming 3.10 release in July and begin offering support for FOCUS in Q3 ’24.

Read More : Leveraging the Power of Payments to Forge Better Employee Relations

[To share your insights with us, please write to psen@itechseries.com ]

Related posts

Abra Partners with Leonie Hill Capital to Increase Access to Crypto Lending and High Yield Markets

Fintech News Desk

Klarna and Brookfield Properties Enhance the In-Store Shopping Experience for Millions of US Customers

Fintech News Desk

Cardknox Announces Integration with the Verifone M400 and e285 Payment Terminals

Fintech News Desk
1