FinOps is an emerging practice that fosters collaboration between Engineering and Finance teams to achieve cost transparency, optimization, and governance in cloud environments, aiming for cost excellence. It draws parallels with DevOps by integrating teams with different goals towards a unified priority, resulting in the creation of FinOps and Cloud Center of Excellence teams. The FinOps Foundation, with over 2,500 members, supports this practice by promoting principles such as collaboration, transparency, and tying costs to business value, which align with the AWS Well-Architected Framework. The foundation outlines a three-phase model to achieve cost excellence, emphasizing the importance of cross-functional teams and centralized practices to ensure continuous and effective cloud cost management. Key stakeholders in this process include Finance, Engineering, and Executive teams, each with specific objectives like accurate cost forecasting, maximizing cloud spend efficiency, and ensuring business continuity. Real-world examples, such as Discover Dollar and Relativity, highlight significant cost savings achieved through effective FinOps practices, illustrating the practical benefits of adopting this approach.