Case Study
Leading global provider of scientific instruments and diagnostics reign in their Cloud Spend, improve Accountability & Governance with our Cloud FinOps product Optix
About The Customer
A Leading global provider of scientific instruments, reagents, consumables, software, and services for research, analysis, discovery, and diagnostics with over $40 billion annual revenue and an annual cloud spend of $70 million.
Key Challenges
Lack of Visibility: With a sprawling infrastructure spanning multiple cloud providers, ½ a billion records/month and over 700+ accounts, comprehensive visibility into its cloud spending and resource utilization was a struggle.
Cloud budget Overrun: Under-utilization and abandonment of resources, adding to wastage and resulting in budget overrun.
Inadequate Tagging Governance: Poor tagging management process with no uniformity in tagging nomenclature, presence of large proportion of untagged resources. Separate tagging strategy for shared and dedicated accounts. and no tags denoting portfolios or service areas.
Lack of proper chargeback mechanisms: Organization hierarchy data with wrong and duplicate entries making it difficult to perform an accurate chargeback. Untagged resources not being allocation properly.
Our Approach
EverestDx adopted its FinOps Service framework (A combination of data integration approach and the FinOps Phases with EverestDx’s Optix). At the core of this framework is EverestDx’s Optix, a FinOps Product that brings a set proven cost saving methodologies, best practices and proprietary toolset supporting various Cloud Spend related functions
Due Diligence:
We conducted an in-depth analysis of the customer’s environment, which encompassed their current cloud resources, data flows, reporting capabilities, relationships with cloud service providers (CSPs), and levels of FinOps maturity. Through stakeholder meetings, we gathered critical insights into their vision and key business drivers. This comprehensive understanding enabled us to outline achievable business outcomes and refine the engagement model, including timelines and deliverables. These refined plans were then presented to the stakeholders for approval before proceeding with the implementation.
On boarding & Transformation (ELT):
During this phase, we established a robust and reliable data ingestion layer to onboard diverse data types from multiple sources into Optix. The ingested data then underwent a validation process, ensuring its cleanliness and accuracy, which is crucial for delivering precise results. Following validation, the clean data from various sources was aggregated into a centralized cost management platform, allowing for comprehensive analysis and management. The aggregated data was then transformed into a format tailored to support various analytical use cases, thereby enhancing the decision-making process. This transformation was conducted in multiple stages, each designed to prepare the data for the subsequent phase. Throughout these stages, we worked with multi-dimensional data to ensure it was organized and presented in ways that cater to the needs of different personas within the organization.
Inform:
After a thorough analysis of the presentation requirements, we developed a visualization layer that delivered meaningful insights with the necessary level of granularity for each persona involved. This layer enabled users to create, organize, and customize dashboards, offering various views and dimensions tailored to their specific needs. By doing so, it empowered users to access detailed, relevant insights that helped in their decision making.
Optimize:
Automation was implemented to continuously monitor the environment for optimization opportunities and take appropriate actions based on these findings. This included proactive measures and even self-healing remediations. The automation targeted several common areas, including:
CUD
Right Sizing
Licensing & SaaS
Budgeting and Forecasting
Anomaly Detection
Chargeback and Allocation
Tag Governance
Cloud Resource Inventory
Operate:
During the operation phase, our activities focused on daily support for the product and promoting its benefits among various customer groups to encourage widespread adoption. The customer’s business units were responsible for consistently monitoring their environment for potential optimization opportunities. Meanwhile, the product support team worked to translate these opportunities into actionable business outcomes using the product's capabilities. This created a continuous feedback loop, revisiting the "Inform" and "Optimize" phases of the implementation to ensure ongoing improvement and value realization.
Business Benefits
The implementation of the EverestDx FinOps Product Optix resulted in a significant stakeholder satisfaction as it yielded our customer benefits including.
30%
Reduction of Cloud Spend in the first year
100%
Cost Allocation
100%
Billing tag propagation
Enhance Accountability & Governance
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