Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Technology

Cloud Computing: How to Get Better, Faster and Cheaper

Cloud Computing: How to Get Better, Faster and Cheaper

By Gabriel Lopez, Program Manager – Global Service Quality, DellEMC

As trained technology professionals, we’ve become used to the idea that technology changes faster every year and the need to ‘minimise negative business disruptions’ is even more critical today, when more and more business transactions are relying on effective and efficient IT Services. Many years ago, I learned how difficult it was to be ready and able to support hardware, software and, most importantly, customers in the face of this rapid change.

To put this into context, in just a few decades, we’ve gone from mainframe to distributed systems to cloud computing. Now according to Gartner, the cloud market grew close to 20 percent in 2017. With digital transformation at the top of every executive’s mind, it’s likely that this trend will only accelerate. So much so that by 2020, Gartner estimates that the overall market will reach $411 billion, and IaaS $72 billion, 87 percent and 185 percent raises respectively from 2016.

When we see this rapid growth and the current compute power, storage quantity and networking capacity required to handle today’s daily business transactions, the numbers are really quite astonishing. However, most demand faster response times, more compute power, more storage, increased bandwidth and throughput, and much faster provisioning just to meet the most basic daily business needs. 

Better, Faster and Cheaper

Better, faster, cheaper is and has always been the name of the game; no surprises there. Some organisations, though, can’t quite seem to focus on all three of these attributes at the same time. In my experience they tend to focus on just two, faster and cheaper, and disregard the better. But, can they really afford to just deliver two out of three?

I am surprised that many organisations pay little to no attention to their IT operations’ maturity level. Organisations large and small, new and not so new, are sometimes so entrenched in delivering the faster and cheaper that they forget that the better can significantly contribute to achieving the performance and cost efficiencies that we all seem to be chasing after and dreaming about.

Cloud computing is certainly not a new concept. The availability of today’s amazing compute power, paired with fantastic virtualisation solutions, represent key contributing factors to achieving faster and cheaper IT service. This is very evident with an efficient orchestration layer that automates provisioning by providing the end customer with a powerful and complete IT catalogue, at their fingertips, to meet their needs faster and cheaper than ever before. 

But is it really fast and cheap?

But what happens when companies decide to invest in new cloud computing technologies to make their IT run faster and cheaper, but lack the backbone and processes to deliver better IT services? Even worse, what happens when they invest in cloud computing to migrate business critical applications, such as SAP, to a cloud environment without having the ‘better’ factor in place and actually end up doing damage to their business?

In these cases, the new solution fails to deliver any of the three desired attributes: It is not faster due to recurring service disruptions, is not cheaper due to the lack of service availability and is certainly not better because it ends up hurting the business.

The better factor is, in my opinion, critical for success in deploying new technologies such as cloud computing and something that I know the folks at Virtustream really subscribe too. This better factor I’m referring to is also known as maturity. The maturity level of your IT operations is a key factor in provisioning a fast and reliable IT service at the right cost, enabling your organisation to meet, and sometimes exceed, business demands. 

Finding the better.

Whether you run your business on a private, public or hybrid cloud, increasing the maturity level of your IT organisation and engaging IT service providers, like Virtustream with a proven record of effective operational maturity is critical to achieving faster, cheaper and better IT services.

Reaching appropriate ‘Operational Maturity Levels’ – by yourself and in conjunction with an IT partners like Virtustream who focus on hosting mission critical applications in the cloud will save you money in the short and long term. You will enjoy the benefits of a proactive support organisation that will:

  • Enable your IT services to minimise and even eliminate negative impacts to the business, sometimes even before disruptions actually occur.
  • Empower the business to self-serve their own needs consistently with technology and enjoy higher levels of availability with predictable service levels.
  • You will also increase retention of key resources. A higher level of operational maturity immediately translates into less “firefighting”, reduced stress and minimised unpredictable working hours.

 What can you afford?

So, can you really afford not to focus on the better factor and do you still believe you’ll be able to deliver IT services faster and cheaper without it? Can you afford to not reach an appropriate maturity level in your IT Operations? Can you afford to hire vendors who are lacking operational maturity?

If you think you can, my advice to you would be to take a closer look at your bottom line, particularly around hidden costs such as project delays, loss of business, and loss of potential business. It should become apparent quickly that fast and cheap will not deliver over the long term without the presence of better. It makes the most sense to partner with a vendor like Virtustream who can prove to you how mature their operations are and who will willingly discuss their operational best practices. Include certain maturity level requirements (for whatever level is appropriate for your organisation) in your future RFPs before hiring new vendors and make operational maturity a prerequisite. This will not only improve your overall services but will also contribute to increasing the maturity level of your own operations at a much faster pace.

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post