Financial Operations

Data Exports for FOCUS 1.2 is Now Generally Available

Alex Bergström

Tags: Cloud Management; FinOps; AWS Data Exports

Data Exports for FOCUS 1.2 is Now Generally Available

FinOps Article

In a significant development for cloud financial management, AWS has announced the general availability of Cost and Usage data exports in the FOCUS 1.2 specification. This announcement marks a pivotal step forward in the ongoing effort to simplify and standardize cloud cost management across diverse platforms. Supported by the FinOps Foundation, the FOCUS (FinOps Open Cost and Usage Specification) is an open framework that standardizes Cost and Usage data, allowing organizations to manage finances more efficiently from multiple sources.

The Impact of FOCUS 1.2

Today’s cloud landscape is characterized by its diversity, with organizations increasingly relying on a multitude of cloud and SaaS providers. This creates a complex web of financial management tasks, often leading to resource-intensive reconciliation processes. The release of FOCUS 1.2 addresses these complexities head-on with several critical enhancements over its predecessor, FOCUS 1.0.

Key Enhancements

FOCUS 1.2 introduces 14 new columns that revolutionize how organizations track financial data. Notably, these enhancements include:

  • Invoice Reconciliation Capabilities: The new InvoiceId column allows finance teams to directly correlate AWS Cost and Usage data with invoices. This dramatically reduces the time and effort needed for monthly closures, transforming what once took days into a matter of hours.

  • Capacity Reservation Status Tracking: With the CapacityReservationId and CapacityReservationStatus columns, organizations can better manage their On-Demand Capacity Reservations and EC2 Capacity Blocks for ML, monitoring whether reserved capacities are utilized efficiently.

  • Virtual Currency Support: New pricing currency columns enable seamless integration with SaaS provider datasets, supporting concepts such as virtual currency and tokens. This means AWS FOCUS 1.2 data can be combined with SaaS FOCUS 1.2 datasets, ensuring unified cost reporting across entire technology stacks.

Improvements Over FOCUS 1.0

Beyond the major enhancements, FOCUS 1.2 offers several other improvements, including support for hourly, daily, and monthly time granularity, commitment discount tracking, and detailed SKU monitoring. These features build upon the standardized cost-column structure, enabling more sophisticated FinOps operations across diverse environments.

Transitioning to FOCUS 1.2

For organizations currently utilizing FOCUS 1.0, transitioning to FOCUS 1.2 is highly recommended to leverage its enhanced capabilities. While FOCUS 1.2 is not backward compatible—requiring new exports and updates to data pipelines—the benefits in terms of financial visibility and operational efficiency far outweigh the transition effort.

Getting Started with FOCUS 1.2

To commence your journey with AWS Data Exports for FOCUS 1.2, visit the AWS Billing and Cost Management console. Here, you can create exports simply by selecting “FOCUS 1.2” from the dropdown menu. Alternatively, for programmatic solutions, the AWS CLI provides options to create these exports through the bcm-data-exports:CreateExport API.

AWS’s Continued Commitment

AWS’s role in the FOCUS project’s evolution is unwavering. As a steering committee member, AWS has actively contributed to FOCUS 1.2’s development, ensuring the specification meets the multifaceted needs of today’s cloud-driven world. Moving forward, AWS remains committed to shaping future iterations, representing customer interests as demands evolve in the ever-changing cloud and SaaS ecosystem.

In the words of J.R. Storment, Executive Director at the FinOps Foundation, “FOCUS 1.2 allows customers to significantly simplify their cost management efforts for capacity reservations and invoice reconciliation.” This latest release not only showcases AWS’s dedication to its customers but also underscores the collective push toward streamlined financial operations in the cloud era.

As we embrace this new chapter in cloud financial management, FOCUS 1.2 sets a robust foundation, empowering organizations to refine financial strategies and focus on generating insights that drive meaningful business outcomes.