Cloud Hosting

By Binu Chacko

While CIOs and CTOs are leading the dialogue, given their role the pandemic, CEOs are instrumental in orchestrating collective-actionacross various functions and in enabling the transition to cloud as organizations grapple to accept the new normal. Following the outbreak last year, leading organizations across the world struggled to transition their operating models to minimize disruption and sustain the uncertain time. While the transition was crippled with challenges for most, as the dust settled, many organizations realized that their existing investment in cloud-based technologies were not adequate for business resilience.

As the second wave of COVID-19 rises disrupts livelihoods, businesses and governments alike, organizations that are yet to embark on their cloud journey, need to take active steps to embrace it. Here are a few factors that makes cloud a critical business imperative in the current times. In the days to come, I hope CEOs and other C-suite members take into consideration the numerous advantages that cloud can deliver and recognise its role in building business resilience in this rapidly evolving risk landscape.

Dependency on IT Another misconception is that deciding to move to the cloud and timing the transition are logistical problems that the IT department must overcome. While IT is a key stakeholder, the fact is that it is business processes, data, and activities that are moving to the cloud, so how and when this happens is a business decision.Although technology is important in this journey, the most successful approach is to migrate to the cloud, with finance, HR, and operations leading the way and IT supporting them.Over 45% of IT spending on infrastructure, applications will be shifted to cloud by 2024 which is now accelerated by the pandemic.

The broader digital transformationCloud computing is just one part of a larger digital transformation. It's an essential component, but if other aspects of the finance operating model aren't considered, a transition to the cloud would fall well short of expectations. The cloud is a tool, not a destination. It is crucial for process optimization and allows vital developments such as artificial intelligence and robotics, all of which must be prioritised.Cloud is now an imperative and not a matter of choice anymore and in todays demanding yet highly uncertain business environment, only organizations that embrace cloud will be the ones to emerge stronger.

The author is Partner Technology Consulting, EY

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Key value drivers for seamless cloud transformation to navigate the pandemic-hit era - ETCIO.com