Tangoe, the leading technology expense and asset management solution for over two decades, proudly announces it has joined the FinOps Foundation community as a Premier member. Additionally, Tangoe’s Chief Product Officer, Chris Ortbals, will join the FinOps Governing Board as a voting member to help craft Foundation strategy and direction. The FinOps Foundation, an integral part of The Linux Foundation’s non-profit technology consortium, is focused on advancing the people who manage the value of cloud. It is made up of thousands of FinOps practitioners including those in 48 of the Fortune 50.
The skyrocketing investments in cloud technology have brought with them a staggering statistic: 70% of businesses say it’s challenging for IT, finance, and procurement teams to account for monthly cloud spending and usage. Moreover, the inability to trace spend and chargebacks is of particular concern to the C-suite, with 66% of them citing this as a challenge. In response, the FinOps Framework has emerged as the predominant model for managing cloud expenditures while maximizing the business value of cloud services.
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James Parker, CEO, Tangoe, expressed his excitement about this milestone, stating, “We’re thrilled to join the FinOps Foundation as a partner member and look forward to becoming an active participant of the community. With over 23 years of pioneering technology expense management, Tangoe is keen to share our deep experience, offering a distinctive advantage that validates our cloud expense management solutions and underscores our proficiency in the practice of FinOps.”
J.R. Storment, Executive Director of the FinOps Foundation, welcomed Tangoe stating, “FinOps harkens back to many of the variable spend principles that technology expense management pioneered decades ago, before cloud brought highly granular consumption data at massive scale. We trust that Tangoe’s participation will enrich the FinOps community and contribute to the development of best practices that transcend cloud infrastructure into related IT spending from SaaS and UCaaS. We are excited to have them share their working knowledge and deep expertise around asset management with the broader FinOps community through working groups that feed the FinOps Framework.”
SOURCE: Businesswire