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We interact with cloud software daily, whether it’s catching up with the latest TV show on well-known streaming sites or by logging into our bank app to check our balance. However, it can be difficult for organisations that aren't cloud-native to keep up in an evolving fraud and risk landscape where the challenges of legacy processes and systems create a barrier to becoming more agile, providing outstanding service, and staying competitive.
Here we’ve put together a helpful guide with pointers to consider when building your business case for migrating to the cloud.
Any impact to the end customer can impact their trust and your organisation's reputation.
Managed cloud technology, which means using an experienced cloud partner, rather than having to have the experience, resource and assets in-house can take the pain out of having physical solutions on-premises. A few of the benefits include the technical experience that the partner can provide and address the resource challenges that organisations can find themselves in if an employee leaves, creating an immediate gap with specialised knowledge needs that can be difficult to fill, which is more prevalent than ever with the news stories around ‘the great resignation’.
Typically, the partner you select to manage your cloud solutions will have contingencies in place, such as multiple data centers, should something untoward happen to ensure no impact on the end client. Having contingencies in place for on-premises solutions can be tricky, not to mention costly.
It takes precision planning when you have physical servers and need to scale up or down.
How can cloud solutions help?
Gone are the lengthy and costly processes to order more servers. With cloud solutions, you purchase more capacity via your partner without planning for future use years in advance.
The agility and flexibility that cloud solutions provide organisations mean that they can roll out software updates, key changes to existing offerings and add new products quickly and easily, helping to increase the bottom line.
On the surface, there’s the perception that cloud solutions are more costly, but what is the true cost of not using the cloud?
When creating your business plan, you need to weigh up the specialist resource, time to scale, ability to introduce new changes and products, 24x7x365 availability to name a few. By reviewing the total cost of ownership (TCO), you can calculate the cost benefits for your organisation over time.
Every company and country is different regarding rules and regulations, so make sure you’re in the know.
Protect the privacy of your organisations data by hosting only the minimal information you need in the cloud and anonymise or remove records with Personal Identifiable Information (PII). This can help protect your organisation and minimise access to sensitive data, whilst ensuring you get the best of what cloud technology has to offer.
Regarding regulations, there can be challenges in specific countries about hosting data outside of that country, so it's best to check the rules and assess the risk and compliance issues that can impact your organisation.
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