Escalating cloud costs are top of mind as companies look to tighten their belts amid the economic slowdown. Most organizations are adopting cloud, and they need a solution to manage this new reality of on-demand access, autoscaling, and per-second billing. Companies require solutions that provide centralized visibility, enable a governance framework, and help with cross-group collaboration, but the ecosystem of solutions available is complicated ranges drastically in functionality. Cloud leaders are seeking answers to some basic questions about cloud cost management. This report discusses the fundamental aspects of cloud cost management tooling and the latest developments in this space.