This configuration is needed to secure access to your Azure Storage accounts, allowing only authorised traffic from specific networks or trusted Azure services to access your storage resources. 

Management groups paly a vital role when we want to organise and manage access, polices and compliance across multiple subscriptions.

Managing cost, alerts, budgets, and Azure Advisor recommendations is essential for maintaining financial control and optimising the performance of your Azure resources.

A subscription is a logical container that represents an agreement between you and Microsoft to use Azure services.