The FinOps Open Cost and Usage Specification (FOCUS) 1.0 was officially launched on June 20, 2024, marking a revolutionary shift in Cloud Cost Management (CCM). Long awaited by MSPs and FinOps, this framework now aligns data sharing among vendors, FinOps tools, and users in a simple manner. It’s an exciting new era for shaking up business strategies in cloud cost analysis.

But let’s take a step back and refocus on what FOCUS 1.0 is. (Pun intended.) significance of FOCUS 1.0, its impact on Anodot’s Cloud Cost Management platform, and how it will transform business approaches to cloud cost analysis.

What is FOCUS 1.0?

FOCUS 1.0 has been in the making since 2021, aiming to bridge finance and engineering teams for better cloud cost management. To tackle cultural resistance when implementing FinOps practices in existing workflows and new accountability measures, The FinOps Foundation created a new framework to standardize these practices to drive long-term success, and thus, FOCUS 1.0 was born! 

Breakdown of FOCUS 1.0

FOCUS 1.0 is an acronym designed to help teams within organizations effectively manage cloud financial operations by highlighting key practices for success.

FOCUS in FinOps stands for:

FinOps Principles: Key principles and practices to support effective cloud financial management, like being accountable, striving for continuous improvement, and maintaining transparency.

Observability & Automation: Emphasizes the importance of having clear visibility into cloud usage and costs, leveraging automation to streamline processes and reduce manual effort.

Collaboration & Communication: Highlights the need for effective communication and collaboration across different teams (e.g., finance, engineering, operations) to ensure everyone is aligned and working towards common goals.

Utilization Optimization: This focus is on optimizing the use of cloud resources to avoid waste and ensure cost efficiency, including rightsizing resources, using reserved instances, and leveraging spot instances.

Standardization & Best Practices: Advocates for establishing standardized processes and adopting best practices to ensure consistency and reliability in managing cloud finances.

Here’s an example of FOCUS 1.0 in action:
Suppose an MSP implemented the FOCUS 1.0 Framework for cloud financial management. Initiatives could include regular financial reviews and advanced tools, enhanced accountability, reduced manual efforts, and optimized cloud resource utilization.  Cross-functional teams would then collaborate for cost efficiency, leading to significant cloud spending reduction. 

These standardized processes boost operational efficiency and teamwork, slashing cloud waste when done right and saving some serious $$$.

Impacts of FOCUS 1.0 on Anodot’s Platform

We support the launch of FOCUS 1.0 and are committed to ensuring it is reflected in our integration efforts. What does that mean exactly? Users can look forward to a streamlined data process, comparing amortized and actual costs and improved onboarding for new cloud providers. 

Anodot’s Strategic Implementation

Our roadmap is about getting the most out of FOCUS 1.0 with a step-by-step integration plan. Here’s what to expect from us on how we’ll support the launch of this new framework. 

Integration of Azure Support

Azure support integration on our platform will finish in a few months. Users can handle amortized and actual costs in a single input stream. This streamlining will enhance cost management accuracy, offering users a clearer view of cloud expenses.

Introduction “Bring Your Own Data”

This update will let users import their data into our platform, boosting flexibility, integrating proprietary data, and offering tailored cloud cost management for each organization’s needs.

Supporting Multi-Cloud Environments

We strive to align Anodot’s multi-cloud solution with all FOCUS 1.0 features by providing seamless data intake and cost management across cloud providers, enabling other CSPs to create a unified platform for users to manage their cloud costs efficiently, regardless of provider. 

Streamlining Onboarding and Export Processes

FOCUS 1.0 will also be central to streamlining onboarding processes for new cloud providers and simplifying data export to the Anodot platform. Users can quickly and efficiently integrate additional cloud providers into their cost management strategy by reducing the time and effort required for onboarding new services. 

Certification and Training

 Our team comprises leading industry experts and leaders who will be well-equipped to leverage FOCUS 1.0’s full potential into our solution. As part of our strategic implementation, we plan to offer certification programs that provide in-depth training on FOCUS 1.0 features and functionalities to enhance user proficiency and customer support.

Collaboration with CSPs

Our integration strategy includes working closely with cloud service providers to ensure that FOCUS 1.0 functions are fully supported and optimized on various platforms. 

Continuous Improvement and User Feedback

We value user feedback and are committed to continuous improvement. As we roll out FOCUS 1.0, we will actively seek input from our users to refine and enhance our platform. This iterative approach will help us remain responsive to user needs and continue delivering cutting-edge cloud cost management solutions.

By following this comprehensive strategic roadmap, Anodot is set to harness the full potential of FOCUS 1.0, providing our users with a robust, flexible, and future-proof cloud cost management solution.

Source: FinOps Foundation

 

The Future of FOCUS 1.0

This launch begins a new FinOps phase, and we plan to see it become a prominent staple for cloud providers and MSPs. The new standardization of FOCUS 1.0 comes with numerous perks. The framework is set to introduce new dimensions, reference specific billing details, and accommodate different savings plans, securing its position at the forefront of cloud cost management innovation.

What to Expect from FOCUS 1.0?

Prepare for enhanced innovation, flexibility, and customization with FOCUS 1.0. It offers a comprehensive overview of costs and billing from various cloud providers and vendors. For many, this means less cloud waste, more granularity in cloud cost, and greater collaboration between cloud providers, engineers, and fiance team organizations.

But here’s something that really excites us – a deeper unified cross-cloud, cross-vendor cost view. The increased visibility will give businesses a full outlook on costs and billing across different cloud providers. For enterprises with multi-cloud setups, this means simplifying the task of managing scattered cost data. By bringing this data together in one view, FOCUS 1.0 helps businesses dive into their cloud expenses, spot potential cost-saving chances, and make smart financial choices.

In other words, the FOCUS forecast is expecting clouds with far less waste! 

Conclusion

FinOps practitioners have long waited for a framework that makes dealing with cloud costs across multiple teams SIMPLE. Now, with FOCUS 1.0, that can finally happen, bringing a new standardization in the industry that supports a unified front between organizations, cloud providers, and third-party tools. 

As a third-party tool, we plan to contribute to the success of FOCUS 1.0. We’ll offer users thorough documentation, strong support, and dedicated customer success teams so they can make the most of it and reach their cloud cost management goals.

FOCUS 1.0 is the future, and as a leading platform for Cloud Cost Management, we’re here to support FinOps in its new era of innovation with our integration.

Have more questions about the launch of FOCUS 1.0 and Anodot’s integration plans for this new phase in FinOps? We’re here to answer them.