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The FinOps Foundation has launched a new open-source billing standard, called the FinOps Open Cost and Usage Specification (FOCUS), which aims to become the industry standard for cloud services providers. This standard will help reduce complexity for FinOps practitioners and make it easier for enterprises to manage, track, and predict cloud spending. The leading cloud computing companies, including Amazon Web Services, Microsoft, Google, and Oracle, have all contributed to the creation of this standard. The FinOps Foundation, founded in 2020, aims to promote better cloud financial management and develop best practices and standards for companies that consume cloud computing resources.
