FinOps is a framework that combines financial operations and cloud infrastructure management to help organizations optimize their cloud spending. With cloud waste being a major concern, FinOps provides a solution to maximize ROI and minimize wasteful expenditure. The adoption of FinOps has resulted in significant savings for various companies, as demonstrated by Nationwide Insurance and Atlassian. Challenges in cloud spend management include limited visibility, rapidly changing environments, and decentralized decision-making. To overcome these challenges and implement FinOps effectively, organizations should establish a cross-functional team, utilize cost visibility tools, set up budget alerts, leverage tagging, optimize resource allocation, and monitor Reserved Instances and Savings Plans. By incorporating FinOps into their operations, organizations can unlock the full potential of their cloud investments and drive growth and innovation.