President & Global Head, Applications & Data business, Wipro.
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Companies have realized that moving to the cloud is no longer an option but the next logical step. The pandemic exposed businesses that were still reliant on legacy systems and on-premises digital infrastructures; while others that had already moved their data to the cloud adapted with relative ease.
Now, the movement to full-stride business transformation is an all-out sprint, and Forrester research predicts that IT spending on public cloud services will increase 35% to roughly $120 billion by the end of 2021. In order to stay competitive, I believe focusing on transitioning core business functions into the cloud is paramount.
The reality is that cloud computing has created a level playing field for modern businesses, providing equal access to agility, scalability and even security. The businesses that can maximize their value and become truly data-driven will inevitably separate themselves in the years to come.
As I alluded to in a past article, many have leveraged early adoption of the cloud to transform the customer experience, but in an increasingly normalized and crowded environment, how can business leaders do that today? Here are steps that I believe can help your company transition to the cloud quickly and efficiently.
First, why many failed.
Over the past decade, forward-thinking companies invested heavily in the development of custom business applications to enhance core processes. Many have failed to capture significant value from these investments.
Instead, what they’ve learned is that highly customized applications that might take years to build and implement can often be an organizational risk because internal workflows, processes and even business models are changing faster than ever before.
Thus, we’re seeing a major shift toward process standardization. Companies are no longer seeking to differentiate themselves by gaining operational advantages, but rather by delivering superior customer and employee experiences as a key strategic differentiation and competitive advantage. While this philosophical shift isn’t solely a result of the mass movement to the cloud, it is perhaps a side effect.
Implement a cloud-centric strategy.
Business leaders that are yet to fully migrate to the cloud must adopt a sense of urgency, or else fall further behind their competitors. Leaders that have already begun or completed their cloud transformation need to identify the primary benefits that cloud platforms can deliver to their businesses and work to capture those now. While the cloud is a great equalizer in many ways, it’s also a vital tool to differentiate.
Make sure to utilize the cloud’s advantages and the way it enables businesses to quickly build new kinds of applications that deliver extra value to customers. Experiment with innovative new approaches to solving persistent problems, for in the cloud, new ideas can be tested quickly in a secure environment, and viable solutions can be deployed efficiently at scale.
All the improvements to agility and flexibility that the cloud can provide will be augmented when a cloud-first strategy is in place, aligning workflows, processes and applications across the enterprise.
Create a data-friendly, team culture.
Data is the fuel to deliver real-time decision-making and power innovation on the cloud, which is why it’s one of the greatest assets any modern company can own. To fully capitalize on their data, leaders must make it transparent and accessible to the people who need it, when it’s needed.
But enhancing data visibility can’t come at the expense of security. Companies that want to use data and analytics to differentiate themselves must first ensure they have the appropriate policies in place for governing data visibility and accessibility. Moreover, they need to empower employees at every level to make data-driven decisions. Use your leadership to create a culture where all employees value the importance of data and are motivated to abide by and enforce the internal mandates governing its use.
As a part of this team effort, when evaluating new technologies or solutions for development or adoption, all impacted stakeholders — C-level, line of business and IT — should be given an opportunity to provide input in order to ensure that business objectives align with the technology proposed.
Look for balance in order to minimize risk.
Successful cloud adoption requires leaders to strike a balance between speed, risk mitigation and innovation. Those who move too quickly to build applications in the cloud will inevitably expose themselves to unwanted risks, whether in the form of security vulnerabilities or lost capital. Innovation leaders and security teams must work collaboratively to ensure that change management initiatives effectively balance the need for caution with the need for speed.
Yet, keep in mind that those who proceed too cautiously might fail to capitalize on the cloud’s potential to drive innovation. That is why leaders also need to keep a careful eye on UX and business impacts to gauge how well the technology is being adopted.
There are some who place too much emphasis on innovation and find that the introduction of new solutions slows down other core functions. Overall, you need a strategic approach that provides a proactive, frictionless and scalable solution to accelerate your cloud journey.
Adopt the cloud in a responsible way.
Within most companies that are fairly new to the cloud, employees will need time to learn how to adapt to new workflows and tools. Make sure to always balance the organization’s needs for business enablement with a careful eye toward change management and security. More seasoned cloud users must guard against the pressure to change too quickly, no matter how promising it might seem.
Adopting the cloud introduces not only cost efficiencies but enables opportunities like new revenue streams, cross-collaboration among businesses and fewer silos to block innovation. Greater access to data can offer workers a secret sauce that helps them feel empowered to innovate.
By balancing all three concerns — business enablement, change management needs and security — business leaders can make a responsible move to the cloud and gain a competitive edge in the business landscape.
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