In today’s times, the cloud is perceived more as a business asset than just a data workspace for all the positives the technology offers to explore the full potential of data and drive a business forward. “Cloud adoption accelerated rapidly during the pandemic and will accelerate still further in the years to come,” says Paul Delory, Senior Director Analyst at Gartner. And business leaders and IT decision-makers of most modern banking and financial services enterprises have realized that they must migrate to the cloud sooner than later to adapt to such volatile economic situations and meet their organizational goals.
It’s All About the Strategy!
Benefits of a Strong Cloud Migration Strategy
In today’s data-driven world, it is essential to have data mobility across clouds and on-premises environments. A survey by Foundry on cloud computing found that “70% of companies have accelerated cloud migration over the past 12 months.
- Helping to execute the migration process efficiently
- Identifying gaps and potential problems
- Reducing hosting and other costs by eliminating unnecessary steps
- Enabling instant scalability and accessibility
- Assisting in determining which workloads can be replaced or discontinued, remain on-premises, be migrated to the cloud, or rewritten.
The 6Rs of a Successful Cloud Migration Strategy
Every organization is different, so the cloud migration strategy must be tailored to meet its specific technical, functional, and operational needs and achieve its desired business goals. Here are the 6Rs of a successful cloud migration strategy that organizations can consider as guidelines during their cloud migration process:
1. Rehost (Lift-and-Shift)
3. Repurchase (Drop-and-Shop)
Are You Ready to Migrate?
Find answers to these questions.
Before migrating to the cloud, an organization should ask itself the following questions:
- Is your organization ready to migrate to the cloud?
- Does your business need to migrate to a cloud infrastructure?
- Does your company have the right resources to support the move?
- What are your organization’s cloud migration objectives and strategy?
- In what ways would cloud migration change your organization’s work culture?
- How will cloud migration impact your overall IT and business performance?
- What is your organization’s budget, also the timeline?
- Should your organization outsource cloud migration through managed service providers (MSPs)?
- What workloads can be moved to the cloud?
- Have you found the right cloud partner?
- How flexible is your cloud service provider (CSP)?
Here's How to Start with Cloud Migration
- Document the strategy
- Identify key stakeholders
- Calculate the overall cost
- Provide appropriate training
- Partner with cloud migration experts – this can be a game-changer.