The FinOps Foundation, an initiative of the Linux Foundation, has launched version 1.0 of its open-source billing standard, FinOps Open Cost and Usage Specification (FOCUS). This standard aims to become an industry standard for cloud service providers and help enterprises manage, track, and predict cloud spending.
FOCUS standardizes the terminology for cloud expenses and usage metrics and provides a uniform schema for organizing financial information, including limits on expenses per database row. This aims to simplify the billing process for FinOps practitioners.
The FinOps Foundation claims that FOCUS will help organizations maximize their cloud investments by standardizing cloud spending, enabling multi-cloud discount analysis, optimizing resource usage, and efficiently allocating shared costs.
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