Cloud cost reporting is crucial for organizations to enhance financial visibility, enabling them to track, analyze, and control their cloud expenditures efficiently. As cloud services rapidly expand, managing these costs has become more complex, necessitating effective reporting processes that provide insights into spending patterns and support informed decision-making. Accurate cloud cost reports improve budgeting and forecasting by allowing data teams to predict future expenses based on historical trends and seasonal demand, thereby supporting cost optimization efforts through resource rightsizing and workload adjustments. By breaking down expenses across departments, cloud cost reporting fosters accountability and mindful resource consumption, while also facilitating strategic planning by aligning technology investments with business goals. Best practices for cloud cost reporting include setting clear objectives and KPIs, implementing consistent cost allocation and tagging standards, customizing reports for different roles, and maintaining real-time visibility through dashboards. Tools like Harness Cloud Cost Management (CCM) offer comprehensive reporting capabilities, including anomaly detection, customized perspectives, and interactive dashboards, which help organizations monitor and optimize cloud costs across platforms.