Enterprises rely on AWS to deliver agility, operational flexibility, and faster innovation. However, managing cloud costs is significantly different from managing on-premises data center costs. It can be difficult to achieve the visibility needed to optimize cloud resources and align cloud spend with business initiatives.
To address these challenges, many organizations are adopting cloud financial management, an essential approach to improve cloud operations and reduce wasted spend. In this paper, we outline best practices to establish a cloud financial management practice to reduce AWS costs, and how AWS customers use a cloud financial management solution to execute that practice.