7 Ways To Reduce Your Snowflake Costs (updated to late 2023)
Snowflake
FinOps
DevOps
Learn what makes
Finout the ultimate
FinOps platform
Using Finout, you can control every aspect of your usage-based spend in minutes, manage and reduce waste across your entire cloud, and help your company adopt FinOps. All without adding code or chain tags. Read below how Finout solves all FinOps domains.
What is Finops?
Cloud Financial Management (FinOps) is the operating model for the cloud- combining systems, best practices and culture to increase an organization’s ability to understand cloud costs. It is the practice of bringing financial accountability to cloud spend, enabling global teams to make informed business decisions. FinOps empowers collaboration between IT, Engineering, Finance, Procurement and the business. It enables IT to develop into a service organization that focuses on adding value to the business with cloud technology.
Finout's holistic solution
For all FinOps domains
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Step 1
Cloud Usage & Cost
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Step 2
Cloud Rate Optimization
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Step 3
Performance Tracking & Benchmarking
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Step 4
Cloud Usage Optimization
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Step 5
Real-Time Decision Making
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Step 6
Organizational Alignment
Finout's cloud cost & usage solution
“This Domain enables an organization to understand what cloud services it’s using, what is driving spending, and who owns that spending. It provides key data consistently to support a picture of current cloud usage and a view into historical trends, at a level of granularity.”
(FinOps Foundation)
This domain is the bread and butter of what we do; provides complete cost observability across your entire infrastructure on any granularity and provides you with the power to compare it to your usage. Promoting anomaly detection and accountability.
Understanding Cloud Rate Optimization
“The Rate Optimization domain will contain the specialized capabilities to improve the manner in which we purchase cloud services, and ensure our pricing models, purchase options, and committed use are consistent with our goals."
(FinOps Foundation)
The outcome of using Finout’s platform is exactly that, going back to your cloud providers and improving you purchase options, exactly like in Singular’s case study
Finout solution to understanding Performance tracking & benchmarking
"Within this domain, the organization sets and maps its usage and cost to budgets, uses historical information to forecast and establishes and measures KPIs and other performance indicators, including benchmarking."
(FinOps Foundation)
Each main dashboard in Finout allows the user to compare usage to spend, and with our advanced customizable dashboard feature there is literally no limit to what a user can detect; additionally, Finout is the only tool that has native integration with Datadog, allowing users to also
Understanding Cloud Usage Optimization
“Using the right resources, in the right size, only when we need them to produce business value is ultimately what the variable use model of the cloud allows us to do to maximize value to our business.”
(FinOps Foundation)
Using Finout’s advanced capabilities a user can detect almost instantly which resource is redundant or just too expensive and create KPIs to measure any service in long run, maximizing the company's business value like never before.
Understanding Real-Time decision making
“When we understand what we are spending, and understand how we are performing relative to expectations and standards, we can then use that information to make real-time decisions as we receive new information.”
(FinOps Foundation)
Using Finout's advanced Alerting, reporting, and Anomaly detection features, any user can get insight into what’s going on in every given movement and deduct the best decision with a full set of data. Read Hunters' case study to learn more
Understanding Organizational Alignment
“the capabilities we’ll use to continuously improve, to change and align our organization itself - its people, processes, and technology”
(FinOps Foundation)
Our customizable dashboard, the self-service platform gives each individual in the company, from Finance, Sales to DevOps full access to the metrics that interest him and give the company the tools to make real change and start talking in business metrics.
“This Domain enables an organization to understand what cloud services it’s using, what is driving spending, and who owns that spending. It provides key data consistently to support a picture of current cloud usage and a view into historical trends, at a level of granularity.”
(FinOps Foundation)
This domain is the bread and butter of what we do; provides complete cost observability across your entire infrastructure on any granularity and provides you with the power to compare it to your usage. Promoting anomaly detection and accountability.
“The Rate Optimization domain will contain the specialized capabilities to improve the manner in which we purchase cloud services, and ensure our pricing models, purchase options, and committed use are consistent with our goals."
(FinOps Foundation)
The outcome of using Finout’s platform is exactly that, going back to your cloud providers and improving you purchase options, exactly like in Singular’s case study
"Within this domain, the organization sets and maps its usage and cost to budgets, uses historical information to forecast and establishes and measures KPIs and other performance indicators, including benchmarking."
(FinOps Foundation)
Each main dashboard in Finout allows the user to compare usage to spend, and with our advanced customizable dashboard feature there is literally no limit to what a user can detect; additionally, Finout is the only tool that has native integration with Datadog, allowing users to also
“Using the right resources, in the right size, only when we need them to produce business value is ultimately what the variable use model of the cloud allows us to do to maximize value to our business.”
(FinOps Foundation)
Using Finout’s advanced capabilities a user can detect almost instantly which resource is redundant or just too expensive and create KPIs to measure any service in long run, maximizing the company's business value like never before.
“When we understand what we are spending, and understand how we are performing relative to expectations and standards, we can then use that information to make real-time decisions as we receive new information.”
(FinOps Foundation)
Using Finout's advanced Alerting, reporting, and Anomaly detection features, any user can get insight into what’s going on in every given movement and deduct the best decision with a full set of data. Read Hunters' case study to learn more
“the capabilities we’ll use to continuously improve, to change and align our organization itself - its people, processes, and technology”
(FinOps Foundation)
Our customizable dashboard, the self-service platform gives each individual in the company, from Finance, Sales to DevOps full access to the metrics that interest him and give the company the tools to make real change and start talking in business metrics.
Gain total cost
observability in minutes
Read Singular Case Study: Finout allows our team to look at their cost bills from a business perspective, saving cost and engineering hours daily.
Read Singular Case Study: Finout allows our team to look at their cost bills from a business perspective, saving cost and engineering hours daily.
Read Hunters Case Study: Before Finout, I spent hours collecting minimal cost data from my infrastructure. Now, I can see it daily and get the answers I need in seconds.
Read Hunters Case Study: Before Finout, I spent hours collecting minimal cost data from my infrastructure. Now, I can see it daily and get the answers I need in seconds.
Read Logz.io Case Study: Finout is now being used daily to track usage and gross margin for better visibility to the leadership team and to measure unit cost over time and allocate it to our customers.
Read Logz.io Case Study: Finout is now being used daily to track usage and gross margin for better visibility to the leadership team and to measure unit cost over time and allocate it to our customers.
Read Wiz Case Study: With Finout, it is easy to gather huge amounts of data from a range of sources and create reports that suit each department, tailored to their specific KPIs.
Read Wiz Case Study: With Finout, it is easy to gather huge amounts of data from a range of sources and create reports that suit each department, tailored to their specific KPIs.
Read ManoMano Case Study: It was impressive how Finout provided everything that we needed right out of the box.
Read ManoMano Case Study: It was impressive how Finout provided everything that we needed right out of the box.
Read Forter Case Study: It sounded like it would be easy to create our own tool - but it’s a lot more complicated than it seems. Finout solved it for us.
Read Forter Case Study: It sounded like it would be easy to create our own tool - but it’s a lot more complicated than it seems. Finout solved it for us.
Finout’s FinOps capabilities
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Cost Allocation
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Data Analysis and Showback
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Measuring Unit Cost
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Managing Shared Cost
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Forecasting
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Managing Cost Anomalies
As Finout considers itself the one source of truth for all usage-based pricing, we’ve built Finout from the ground up to support cost allocation with Finout’s mega-bill.
Using Finout’s Virtual-Tags and Weighted-Tags features, you can appropriately combine and divide the cloud bill into as many parts as your organization needs, no matter how complex your architecture is and how accurate your tagging and labeling are.
Finout’s platform enables any user to leverage the billing data, giving a near “real-time” reporting system that focuses on cloud cost compared to usage data, allowing to showback spending to the company teams.
Additionally, using Finout’s native Datadog integration, developers can monitor their spending alongside their usage inside the Datadog platform.
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Unit Costs are direct revenues and costs associated with a particular business model. For example, a cost per feature or segment.
Using Finout’s platform, the possibilities to acquire accurate transparency of your total revenue are almost endless, with a customer creating Unit cost-per-customer, gross-margin-per-customer, and cost-per-feature all in one dashboard. An advanced FinOps can, for example, measure to cost of one revenue-producing activity, such as one transaction. Creating business-oriented unit costs is the golden path for increasing product profitability.
Most organizations have cloud costs that need to be segmented and allocated into business departments; that’s the only way they’ll be able to make data-driven decisions.
For example, the cost of running networking services or even the cost of one service resource from a cloud provider for which they didn’t tag or label.
That’s no longer an issue; using Finout’s Mega-bill and Virtual Tag system, any company can manage its shared cost across multi-cloud providers and data centers without an issue.
Another advanced ability Finout provides is the ability to accurately forecast spend using historical data with relevant KPIs defined by the teams. In other words, a company can know how much a specific feature or transaction would cost it in two years or understand the cost of customer life-span
*Full feature coming soon
Finout gives any user, no matter his pricing tier the ability to detect, identify, clarify, alert, and manage cloud cost events. That includes any unexpected or unforecasted event.
To do that, Finout uses a machine-learning algorithm tool that monitors peaks in the budget trends and unexpected changes; this is a crucial component in reducing cloud waste.
*Full feature coming soon
Additional FinOps
capabilities
Managing Commitment Based Discounts
Spend-based commitment discounts and resource-based commitment discounts are the most popular rate optimizations that cloud service providers offer. Finout’s platforms enable you to plan, manage, and benefit from these types of discount constructs with forecasting and reporting, allowing your company to best ESR (Effective saving rates) to meet your goals.
Establishing FinOps Culture
Using Finout is more than just the tools it provides. It’s about empowering your teams and company leaders to take accountability for the company spending using a user-friendly, self-service platform that gives all the answers without the heavy lifting. It’s about being secure in your development and product decisions due to clarity of spend past and future alike. Finout is about empowering a FinOps culture in the company. It’s about communication.
Budget Management
Give Finance the tool they need to create an accurate yearly without favorable and unfavorable budget spend due to lack of clarity. Once the sales team get they can create their own dashboard in Finout’s self-service platform, then Accumulate the estimated expenses for a specific time period. Start tracking actuals and forecasting remaining spend and comparing to the budgeted amount to identify material variances and on a daily basis Investigate the causes of variances to budget.
Workload Management & Automation
At the end of the day, cost reduction is all about optimizing cloud usage, and the only way you can constantly sustain it and make sure you only run resources when they are needed across a big infrastructure is using Finout’s mega-bill system, combining it with alerts and recommendations and you got the most effective tool in the market to constantly monitor and reduce your infrastructure cost.
Finout’s main features
- AWS, GCP, K8s, Datadog, and Snowflake cost in one platform
- Onboard in minutes - No SDKs, No apis. No agents
- Customize dashboards, build reports and customize alerts
- See your cost alongside your usage in Datadog
- Showback spending to your teams
