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You may have read our previous blog posts about cloud financial hygiene discussing the importance of cloud financial management, the FinOps Foundation lifecycle and how to use key performance indicators to ensure you remain on track to achieve your goals. Throughout all these posts, one consistent theme has remained: you need to be armed with data-driven insights and a comprehensive view of all the assets in your multi-cloud estate. This requires a robust tagging strategy that underpins the success of your cloud financial management strategy.

If you’re like me, you likely don’t have months set aside to pass exams from financial regulatory bodies like the Federal Financial Institutions Examination Council (FFIEC). I needed full transparency into the lifecycle of my IT assets to quickly meet the reporting requirements and action plans set by the FFIEC. This included the end-of-life and end-of-support status on the IT hardware and software across my IT estate. IT asset management (ITAM) professionals know the struggles of audits all too well. Whether internal or external, they’re a resource drain.