The FinOps Foundation, a part of The Linux Foundation’s non-profit technology consortium and focused on advancing the people and practice of cloud financial management, announced today at the inaugural FinOps X Conference in Austin, Texas, that global financial services organization, Fidelity Investments, is joining as a Premier Member end user FinOps adopter member company.
A rapidly expanding number of forward-thinking companies across a wide range of industries are starting to develop FinOps teams and practices as they shift to the cloud in order to gain greater control over their cloud spend forecasting and migration planning. FinOps is now practiced in every major industry, with Financial Services and Information Technology being among the biggest adopters.
Fidelity counts more than 40 million people, 23,000 businesses and 3,600 advisory firms as customers and so is a natural fit to collaborate on the evolution of FinOps.
“As Fidelity continues our digital transformation journey, FinOps remains one of the key pillars in ensuring we get the most value out of every dollar spent in the cloud,” shared Vice President for Fidelity’s Cloud Business Office, Zach Stitham. “We are excited to be part of this community that continues to share experiences, learnings, and ultimately helps to foster a culture of accountability throughout organizations.”
As the practice of FinOps takes hold in organizations of all sizes, the FinOps Foundation has continued its rapid expansion. It now serves over 5,700 practitioner members from more than 2,500 organizations. End user members like Fidelity Investments gain exposure in the FinOps community, have easy access to training and enhanced recruitment opportunities – accelerating the adoption and are coached on the development of their FinOps practice.
“We welcome Fidelity as a Premier Member as the FinOps Foundation continues its rapid growth and as the practice of FinOps gains steam in companies large and small,” said J.R. Storment, Executive Director of the FinOps Foundation. “Fidelity’s hub and spoke model of FinOps practice is a shining example of the right way to help a large, complex organization get the most value out of their cloud spend. Their expertise in their central FinOps team, as well as the dedicated business unit FinOps experts have been a big resource to the larger FinOps community cementing best practices that will give FinOps practitioners everywhere a bedrock foundation for their own efforts.”
Fidelity today also received the first annual “Outstanding FinOps Team” award at FinOps X’s mainstage for excellence in their broad scale implementation of FinOps and large bench of experts across their hub and spoke model.
The latest FinOps Foundation research indicates that large companies like Fidelity will continue to adopt FinOps, due to the complexity of their cloud environments, reporting requirements and the sheer number of disparate teams requiring collaboration.
With the explosive growth of cloud in recent years, organizations understand the critical need to ensure accountability for cloud spending in order to align cloud adoption and investment with business strategy and value.
To learn more about becoming a member of The FinOps Foundation visit https://www.finops.org/membership/
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