The FinOps Foundation Announces Fidelity Investments as a Premier Member

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Jun 20, 2022, 11:20 ET

Fidelity Joins Other Prominent Foundation Members at Inaugural FinOps X Summit to Educate and Drive Momentum for FinOps Ecosystem

PORTLAND, Ore., June 20, 2022 /PRNewswire/ -- The FinOps Foundation, a part of The Linux Foundation's non-profit technology consortium and focused on advancing the people and practice of cloud financial management, announced today at the inaugural FinOps X Conference in Austin, Texas, that global financial services organization, Fidelity Investments, is joining as a Premier Member end user FinOps adopter member company.

A rapidly expanding number of forward-thinking companies across a wide range of industries are starting to develop FinOps teams and practices as they shift to the cloud in order to gain greater control over their cloud spend forecasting and migration planning. FinOps is now practiced in every major industry, with Financial Services and Information Technology being among the biggest adopters.

Fidelity counts more than 40 million people, 23,000 businesses and 3,600 advisory firms as customers and so is a natural fit to collaborate on the evolution of FinOps.

"As Fidelity continues our digital transformation journey, FinOps remains one of the key pillars in ensuring we get the most value out of every dollar spent in the cloud," shared Vice President for Fidelity's Cloud Business Office, Zach Stitham. "We are excited to be part of this community that continues to share experiences, learnings, and ultimately helps to foster a culture of accountability throughout organizations."

As the practice of FinOps takes hold in organizations of all sizes, the FinOps Foundation has continued its rapid expansion. It now serves over 5,700 practitioner members from more than 2,500 organizations. End user members like Fidelity Investments gain exposure in the FinOps community, have easy access to training and enhanced recruitment opportunities - accelerating the adoption and are coached on the development of their FinOps practice.

"We welcome Fidelity as a Premier Member as the FinOps Foundation continues its rapid growth and as the practice of FinOps gains steam in companies large and small," said J.R. Storment, Executive Director of the FinOps Foundation. "Fidelity's hub and spoke model of FinOps practice is a shining example of the right way to help a large, complex organization get the most value out of their cloud spend. Their expertise in their central FinOps team, as well as the dedicated business unit FinOps experts have been a big resource to the larger FinOps community cementing best practices that will give FinOps practitioners everywhere a bedrock foundation for their own efforts."

Fidelity today also received the first annual "Outstanding FinOps Team" award at FinOps X's mainstage for excellence in their broad scale implementation of FinOps and large bench of experts across their hub and spoke model.

The latest FinOps Foundation research indicates that large companies like Fidelity will continue to adopt FinOps, due to the complexity of their cloud environments, reporting requirements and the sheer number of disparate teams requiring collaboration.

With the explosive growth of cloud in recent years, organizations understand the critical need to ensure accountability for cloud spending in order to align cloud adoption and investment with business strategy and value.

To learn more about becoming a member of The FinOps Foundation visit https://www.finops.org/membership/

About the FinOps Foundation

The FinOps Foundation (F2) is a non-profit trade association made up of FinOps practitioners around the world including Atlassian, Autodesk, Gannett, HERE Technologies, Just Eat, Nationwide and Spotify. Grounded in real world stories, expertise, and inspiration for and by FinOps practitioners, the FinOps Foundation is focused on codifying and promoting cloud financial management best practices and standards to help community members and their teams become better at cloud financial management.

About Fidelity Investments

Fidelity's mission is to inspire better futures and deliver better outcomes for the customers and businesses we serve. With assets under administration of $10.5trillion, including discretionary assets of $4.0trillion as of April 30, 2022, we focus on meeting the unique needs of a diverse set of customers. Privately held for over 75 years, Fidelity employs more than 58,000 associates who are focused on the long-term success of our customers. For more information about Fidelity Investments, visit About Fidelity - Our Company

Contact: [email protected]

SOURCE FinOps Foundation