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Optimize Cloud Spend with Effective FinOps Strategy for Dynamic Cost Management, Says Info-Tech Research Group

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Info-Tech Research Group’s new blueprint provides IT leaders with strategies to establish financial transparency, improve cost forecasting accuracy, and leverage automation for optimized cloud expenditure. The comprehensive guide addresses common challenges in cloud cost management and offers actionable insights to align financial practices with organizational goals, fostering innovation and efficiency in a competitive market.

TORONTO, July 30, 2024 /PRNewswire/ – As cloud adoption continues to surge, organizations are grappling with the complexities of cloud cost management. The recent 2024 Future of IT Survey by Info-Tech Research Group revealed that 72% of infrastructure respondents are already invested in cloud computing and plan further investment. However, effectively managing these costs has become a critical challenge, especially as the cloud’s promise of innovation often comes with escalating expenses. To address this, Info-Tech has unveiled a new blueprint, Build a FinOps Strategy to Enable Dynamic Cloud Cost Management. A resource designed to help IT leaders navigate these complexities, this comprehensive guide provides actionable insights into establishing financial transparency, enhancing cost forecasting, and leveraging automation to optimize cloud expenditures.

The recently published blueprint emphasizes the importance of financial transparency as a cornerstone of effective cloud cost management. Info-Tech’s research highlights that without a clear and transparent view of cloud expenditures, organizations risk overspending and inefficiencies.

“The significant increase in cloud adoption has escalated the complexity of cloud resource management. Engineers are being motivated to be innovative, which adds more costs to cloud resources,” says Mahmoud Ramin, senior research analyst at Info-Tech Research Group. “Organizations should break the silo between Finance and other departments, provide more visibility into their expenditures, and make stakeholders responsible for their use of resources. FinOps practices help break down silos, improve collaboration across the business, and make users accountable for their cloud usage.”

The firm advises in the blueprint that by implementing robust tagging and metadata strategies, as well as establishing comprehensive cost management models, organizations can achieve greater accuracy in tracking and allocating cloud costs. This structured approach not only aids in current financial oversight but also sets the stage for predictive analytics and future cost forecasting, ensuring that IT expenditure aligns closely with business objectives.

“Transparency is one of the primary FinOps initiatives. The ability to use advanced data analytics relies on effective tagging, robust cost modeling, and efficient budget management,” explains Ramin. “AI-powered cloud cost management tools can help organizations boost their growth through exponentially improving FinOps practices; however, organizations need to apply the core FinOps practices to implement such automation capabilities.”

Info-Tech’s research insights also underscore the critical role of fostering a culture of accountability and continuous improvement. By embracing best practices in cloud cost governance and encouraging cross-departmental collaboration, organizations can ensure data integrity and consistency across all financial operations. This holistic approach not only streamlines current cost management practices but also prepares organizations to swiftly adapt to evolving business demands and technological advancements, thereby maintaining operational efficiency and strategic agility.

Info-Tech recommends that organizations consider the following approach to FinOps, which is structured around three key phases in the Build a FinOps Strategy to Enable Dynamic Cloud Cost Management blueprint:

Transparency: Implement tagging and metadata strategies to track cloud expenditures accurately. Establish comprehensive cost management models and evaluate metrics using advanced data analysis. This approach ensures clear visibility into cloud spending, enabling organizations to make informed decisions and identify areas for cost optimization.Forecasting: Develop internal benchmarks, build budgets, and streamline the implementation process to forecast and manage cloud costs effectively. Accurate forecasting allows organizations to anticipate future expenses, align cloud investments with business goals, and avoid unexpected financial overruns.Automation: Select appropriate tools to enhance FinOps processes and leverage smart automation to detect and manage cost anomalies in real time. Automation reduces manual effort, increases efficiency, and ensures consistent application of cost management practices, ultimately driving significant cost savings and operational scalability.

By implementing these phased strategies, organizations can achieve a proactive approach to cloud cost management.

Info-Tech’s blueprint emphasizes the necessity of aligning FinOps practices with organizational objectives to maximize cloud value and drive innovation. The comprehensive approach provided ensures IT leaders can transform their cloud financial management to foster sustainable growth and operational excellence in the cloud era.

For exclusive and timely commentary from Info-Tech’s analysts, including Mahmoud Ramin, an expert on IT infrastructure and operations, as well as access to the complete Build a FinOps Strategy to Enable Dynamic Cloud Cost Management blueprint, please contact pr@infotech.com.

Info-Tech LIVE 2024 Conference

Registration is now open for Info-Tech Research Group’s annual IT conference, Info-Tech LIVE 2024, taking place September 17 to 19, 2024, at the iconic Bellagio in Las Vegas. This premier IT industry event will also offer journalists, podcasters, and media influencers access to exclusive content, the latest technology research and trends, and the opportunity to interview industry experts, analysts, and speakers. To apply for media passes to attend the event or to gain access to research and expert insights on trending topics, please contact pr@infotech.com.

About Info-Tech Research Group

Info-Tech Research Group is one of the world’s leading research and advisory firms, proudly serving over 30,000 IT and HR professionals. The company produces unbiased, highly relevant research and provides advisory services to help leaders make strategic, timely, and well-informed decisions. For nearly 30 years, Info-Tech has partnered closely with teams to provide them with everything they need, from actionable tools to analyst guidance, ensuring they deliver measurable results for their organizations.

To learn more about Info-Tech’s divisions, visit McLean & Company for HR research and advisory services and SoftwareReviews for software buying insights.

Media professionals can register for unrestricted access to research across IT, HR, and software and hundreds of industry analysts through the firm’s Media Insiders program. To gain access, contact pr@infotech.com

For information about Info-Tech Research Group or to access the latest research, visit infotech.com and connect via LinkedIn and X.

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SOURCE Info-Tech Research Group

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The Hottest Dog Bronchial Health Supplement on Shopee in 2024

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SEOUL, South Korea, Nov. 10, 2024 /PRNewswire/ — As a dog owner, you may have often heard your furry friend coughing, whether it’s a dry hack or a honking sound. Though it might seem trivial, these coughs can cause serious discomfort for your furry friend and create anxiety for you as a caring pet parent.

DOCTORBY’s BREATH CARE is a nutritional supplement designed to support bronchial health in dogs, currently gaining attention among many pet owners on Shopee.

Coughing in dogs can be triggered by various factors, including temperature fluctuations, strong air conditioning, and dust or debris inhaled during walks. Additionally, as dogs age, their bronchial immunity can weaken, leading to potential health issues.

BREATH CARE contains a blend of functional ingredients like the plant-based complex extract TF-343, magnesium, and propolis, which can help alleviate respiratory issues such as coughing and support the elimination of waste accumulated in the bronchial passages.[1] With a taste dogs love, it doubles as a treat, making it incredibly easy for pet owners to administer. Furthermore, it has passed heavy metal and toxicity tests, ensuring safety without the use of synthetic sweeteners or colorings.

Currently, BREATH CARE ranks as one of the top products in Shopee’s pet nutrition and supplement category. In May 2024, it achieved the number one sales position in the pet nutrition category on Shopee Singapore, garnering immense popularity. Shopee has reported a staggering 3,000% growth in sales compared to 2023. Notably, DOCTORBY has not only topped the charts on Shopee but has also held the number one position on Amazon Japan for 22 consecutive weeks, establishing itself as a leader in the South Korean pet nutrition market and rapidly expanding in the global market.

For cat owners, the cat-specific bronchial supplement, CAT BREATH CARE, is also enjoying tremendous popularity. Additionally, DOCTORBY offers a variety of health supplements, including ‘SKIN & COAT’ for skin support, ‘EYES CARE’ for eye health and tear stain improvement, and ‘HAIRBALL CARE’ to assist with hairball elimination in cats. In Singapore, DOCTORBY products are exclusively available on Shopee.

Enjoy fast delivery via Shopee’s reliable fulfillment services, with most orders arriving within 2 to 3 days for a satisfying shopping experience. Shopee also hosts monthly promotional events, such as Double Day and Pay Day, offering a range of exciting deals. Moreover, a special Mega Day event is planned for November 11, promising additional benefits for shoppers.

[1] Korean J. Food Sci. Technol. Vol.35, no.5, pp980-987 (2003)

 

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SOURCE DOCTORBY

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LG Display Succeeds in Developing World’s First Stretchable Display that Expands by 50 Percent

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SEOUL, South Korea , Nov. 9, 2024 /PRNewswire/ — LG Display, the world’s leading innovator of display technologies, announced today its unveiling of the world’s first Stretchable display capable of expanding up to 50%, the highest rate of elongation in the industry. At LG Science Park in Seoul on Nov. 8, the company demonstrated the panel at a meeting of more than 100 South Korean industry, academia, and research stakeholders involved in a Stretchable display national project.

Stretchable displays are seen as the ultimate free-form screen technology because they can be freely transformed into any shape, including by stretching, folding, and twisting.

The new prototype features a 12-inch screen that stretches up to 18 inches, while simultaneously delivering a high resolution of 100ppi (pixels per inch) and full red, green, and blue (RGB) color.

Compared to the first Stretchable display prototype unveiled in 2022, the new panel’s maximum elongation rate has more than doubled from 20% to 50%. This enhanced stretchability enables various display design possibilities, raising the technology’s potential competitiveness when commercialized.

By applying a number of new technologies, such as improving the properties of a special silicon material substrate used in contact lenses and developing a new wiring design structure, LG Display improved the panel’s stretchability and flexibility, exceeding the original national project’s target of 20% elongation.

In addition, by using a micro-LED light source of up to 40μm (micrometers), the new prototype’s strengthened durability means it can be repeatedly stretched over 10,000 times, maintaining clear image quality even in extreme environments such as exposure to low or high temperatures and external shocks.

Stretchable displays are not only thin and lightweight but also capable of adhering to irregularly curved surfaces like clothing and skin. They are expected to be widely applied in various industries, from fashion and wearables to mobility.

The company showcased numerous concepts for the application of Stretchable displays, including an automotive panel that stretches out into a convex shape and can be operated by hand as well as a wearable display attached to firefighters’ uniforms that provides real-time information.

LG Display was selected as the lead company for the national project to develop Stretchable displays in 2020 and since then has been conducting joint R&D with 19 domestic industry and research institutes. It is one of the major tasks of a wider project to develop core technologies for next-generation displays promoted by South Korea’s Ministry of Trade, Industry and Energy (MOTIE) along with the Korea Planning & Evaluation Institute of Industrial Technology.

By successfully completing the project, LG Display has not only secured core technologies that can lead the next-generation display market but also contributed to localizing materials, components, and equipment as well as building an R&D infrastructure.

“We will continue to build a sustainable future display ecosystem through close cooperation between South Korean industry, academia, and research stakeholders,” said Soo-young Yoon, CTO and Executive Vice President of LG Display.

About LG Display

LG Display Co., Ltd. [NYSE: LPL, KRX: 034220] is the world’s leading innovator of display technologies, including thin-film transistor liquid crystal and OLED displays. The company manufactures display panels in a broad range of sizes and specifications primarily for use in TVs, notebook computers, desktop monitors, automobiles, and various other applications, including tablets and mobile devices. LG Display currently operates manufacturing facilities in Korea and China, and back-end assembly facilities in Korea, China, and Vietnam. The company has approximately 70,707 employees operating worldwide. For more news and information about LG Display, please visit www.lgdisplay.com.

Media Contact:
Joo Yeon Jennifer Ha, Manager, Communication Team
Email: hjy05@lgdisplay.com 

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SOURCE LG Display

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Stay Better in China: Tell the Beautiful China to the World

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NANCHANG, China, Nov. 9, 2024 /PRNewswire/ — A report from Jiangxi International Communication Center (JXICC): Komurcu Busra, an international student from Nanchang University, talks about her life in China. She felt the simplicity of Chinese countryside and pure beauty of nature here. She wants to tell the beautiful China to the world.

https://www.youtube.com/watch?v=vQGbRJc4ncc

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SOURCE Jiangxi International Communication Center(JXICC)

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