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BFSI

Microsoft Azure Cloud
Cost Tracking/Finops

Problem statement:

A large Insurance client has to automate its the Azure chargeback model, so that they can gain better visibility into their cloud spending, allocate costs effectively, and optimize their Azure infrastructure for maximum efficiency.

Solution Approach

01
Cost Aggregation

Gather and consolidate all Azure resource usage and cost data from various sources, such as the Azure Cost Management or Azure Billing APIs.

02
Cost Assignment

Assign the aggregated costs to individual departments, teams, or cost centers based on predetermined allocation rules or cost ownership policies.

03
Cost Reporting

Generate detailed cost reports that provide a breakdown of Azure resource usage and associated costs for each department or cost center.

04
Chargeback Process

Implement a chargeback process where the assigned costs are communicated to the appropriate stakeholders, such as department managers or finance teams, for further analysis and budget planning.

Technical Design & Architecture

Tools and Technologies

Some of Azure Cost Conclusions

Impact

  • Azure Subscription Cost : Understanding the various costs associated with running resources in your Azure subscription, such as virtual machines, storage, and networking.
  • Resource Metering and Reporting : Overview of how Azure meters the usage of your cloud resources and provides detailed reporting on consumption.
  • Allocation and Chargeback Strategies : Techniques for allocating Azure costs to different departments, teams, or projects within your organization.
  • Cost Optimization Recommendations : Strategies for optimizing Azure costs, such as right-sizing resources, leveraging reserved instances, and applying tags for better visibility.
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