Implementing solution design based on FinOps, saving $450K in cost

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the story

Our client is an independent wealth management firm serving high net-worth individuals or HNI client portfolios in the Middle East. They were leveraging Microsoft Azure for cloud computing services and needed expertise to dive deeper into the workload costs. While they envisioned scaling up by 10x, they were held back by their exponentially increasing cloud spend.

Nagarro was onboarded to implement cost optimization best practices that align with the organization’s objectives. Nagarro’s experts implemented FinOps best practices and helped them optimize cloud bills.

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challenge

Inconsistent resource tags, naming guidelines, and a lack of a thoughtful tagging strategy were a few of many challenges. Our experts found significant gaps in the design within their data engineering solution that was causing a continuous increase in the cloud spends linearly as they scaled, thus affecting business growth.

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solution

We did a Prove Value Workshop benchmarking the existing spend & performance metrics. We also did a FinOps maturity assessment to understand the current and the three-year vision state. After identifying potential saving opportunities, we rightsized the over-provisioned resources and identified cloud waste, set up cost dashboards to create better visibility as well as set up budgets and alerts for continuous monitoring & control. For optimized cost allocation and improved visibility, we developed a standardized tagging strategy wherein we created intelligent Azure PowerShell scripts for resource tag backup, report generation, and bulk modification.

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outcome

We established a backlog for easy decision-making that was tagged with a 2x2 priority matrix with Low Savings, High Effort, High Savings, High Effort, Low Savings, Low Effort, and High Savings, Low Effort. We reduced the cost by 32% with Azure Data Factory (ADF) short-term recommendations and 46% with ADF long-term re-design. The cost dashboards, custom cost policies, budgets & cost alerts helped our customer with enhanced visibility into their cloud spend, enabled better decision-making and above all better control with cost governance.