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Keep up-to-date with new service releases

Staying informed about new AWS service releases helps organizations leverage cost-efficient solutions that can optimize usage and drive savings. Regularly consulting with experts ensures that you are taking advantage of the latest offerings in cloud technology.

Best Practices

Stay Informed About New AWS Services and Features

  • Regularly review updates on AWS services to understand new cost-effective options available to you.
  • Follow AWS blogs, webinars, and newsletters to receive insights about new releases and features that could reduce costs.
  • Engage with AWS experts or certified partners to obtain tailored recommendations and strategies on leveraging the latest tools and services.
  • Utilize AWS Cost Explorer and AWS Budgets to track your actual usage against new services, allowing you to assess potential savings.
  • Participate in AWS events and forums to share insights and learn from peers about cost optimization techniques.

Questions to ask your team

  • How often do you review AWS service updates and new features?
  • Do you have a process in place to evaluate and incorporate new services that could reduce costs?
  • Are team members trained to monitor AWS blogs and other resources for cost-saving opportunities?
  • How do you engage with AWS experts or partners to stay informed about cost optimization techniques?
  • Have you implemented tools or dashboards to track cost changes related to new service releases?

Who should be doing this?

Cloud Financial Manager

  • Monitor and track AWS service updates and new releases.
  • Evaluate the cost implications of new services and features.
  • Consult regularly with AWS experts or partners for advice on cost optimization.
  • Identify lower-cost services and features that align with business needs.
  • Stay informed through AWS blogs and newsletters to leverage opportunities for cost savings.
  • Facilitate training sessions for team members on new services and cost management strategies.

AWS Solutions Architect

  • Assess the technical requirements and benefits of new AWS services.
  • Advise on integrating new services into existing architectures to optimize costs.
  • Collaborate with the Cloud Financial Manager to align financial goals with technical solutions.
  • Participate in regular reviews of service usage and cost efficiency assessments.

Finance Analyst

  • Analyze financial performance and trends related to cloud spend.
  • Provide insights and forecasts on budget allocation for cloud services.
  • Support the Cloud Financial Manager in developing financial reports and dashboards.
  • Assist in tracking the effectiveness of cost optimization initiatives based on service updates.

What evidence shows this is happening in your organization?

  • AWS Services Update Dashboard: A centralized dashboard that highlights the latest AWS service releases and updates, allowing teams to quickly identify new lower-cost services and features.
  • Cloud Financial Management Checklist: A detailed checklist for teams to follow, ensuring regular consultation with AWS experts and partners to stay informed about cost optimization opportunities and service updates.
  • Best Practices Guide for Cost Optimization: A comprehensive guide outlining best practices for implementing cloud financial management, including strategies for staying updated on service releases and effectively utilizing new features.
  • Monthly Financial Review Reports: Reports generated monthly that summarize findings from consultations with AWS partners, new service evaluations, and recommendations for optimizing costs based on the latest releases.
  • Service Release Notification Policy: A policy document that mandates the regular review of AWS service announcements and updates, ensuring the organization is proactive in leveraging cost-effective services.

Cloud Services

AWS

  • AWS Cost Explorer: Allows you to visualize, understand, and manage your AWS costs and usage over time.
  • AWS Budgets: Helps you set custom cost and usage budgets that alert you when you exceed your thresholds.
  • AWS Pricing Calculator: Enables you to estimate your AWS costs and make informed decisions on service usage.
  • AWS Trusted Advisor: Provides recommendations on cost optimization, including underutilized resources and opportunities to save.

Azure

Google Cloud Platform

Question: How do you implement cloud financial management?
Pillar: Cost Optimization (Code: COST)

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