O

What is cloud unit economics?

‍
By definition, cloud unit economics refers to the financial analysis and evaluation of both the costs and revenue associated with operating a cloud-based business.

‍
In other words, it’s a way of looking at how much it costs to run your business on the cloud, as well as how much it brings in.

What is a SaaS stack?

‍
A SaaS stack is a collection of software-as-a-service (SaaS) applications and tools that are used across an organization. While the specific contents of any SaaS stack will vary depending on the nature of the business, it will typically consist of communication, collaboration, sales, marketing, HR, finance and data analytics software.

What is FinOps?

‍
FinOps refers to financial operations. In relation to cloud technology, Cloud Financial Operations is a practice that focuses on aligning cloud costs with business objectives and improving overall financial management in the cloud. When implemented correctly, it can provide you with a better understanding of your cloud spending patterns, enabling you to make more informed decisions on how to allocate and manage your costs.

What is decentralized procurement?

‍
Decentralized purchasing in SaaS refers to the process of allowing individual departments or teams within an organization to make their own purchasing decisions for software applications. This is in contrast to a centralized purchasing model, where all purchasing decisions are approved by a single procurement team or a department such as finance.
While a decentralized purchasing model can provide teams with the flexibility to select and purchase the tools that best meet their needs, without having to wait for approvals or navigate bureaucratic purchasing processes, it can create challenges for the company. This can include reduced buying power, higher costs, lack of control over vendor relationships, and increased compliance and legal risks.

What is maverick buying?

‍
Maverick spending, also known as rogue spending, can be defined as any purchasing that takes place within an organization, outside of an established procurement process.

‍
In the context of SaaS, maverick spending refers to the acquisition of cloud-based software solutions that are purchased unbeknownst to the finance, IT or procurement teams, and in a way that does not comply with the organization’s formal IT procurement process — and so may not be approved, vetted, or appropriately documented.

What is meant by data storage?

‍
In the context of cloud computing, data storage refers to the process of storing and managing digital information in either a remote server or a data center provided by a cloud service provider such as Amazon Web Services (AWS) or Microsoft Azure.

‍
The cloud ultimately provides a versatile platform for storing various types of data, whether that be documents, media files, application data, machine learning data or structured data.