Gartner defines cloud financial management (CFM) tools as tooling that provides the ability to collect, organize, display, optimize and manage the investments in cloud computing infrastructure as a service (IaaS) and platform as a service (PaaS). They leverage algorithms, statistical models and/or AI/machine learning (ML) in support of cost reports, dashboards and/or other mechanisms/interfaces that provide capabilities to monitor cost, utilization and value indicators. This allows users to identify trends, anomalies, misaligned expectations, as well as opportunities to increase the efficiency of cloud configurations, architecture and contracts. CFM tools enable enterprises to collect and analyze public cloud cost and usage information, and apply controls to define budget and cost policies to optimize spending on a continuous basis.