Cloud Migration Strategy for Your Business in 2023
Cloud migration may seem like a hyped trend today, but only with justifiable reasons and benefits. There’s an undeniable advantage in moving your operations to the cloud, decentralizing them, and mobilizing a remote workforce with enterprise tools they can access anywhere, anytime.
However, to get to that vision, your business must first navigate the cloud migration journey and weigh its returns in the balance with expenses and investments on the other side.
Let’s begin by understanding what cloud services stand to offer your business by way of functionality, feasibility, agility, and resilience. In addition, we’ll explore the value of data migration to the cloud and how a robust cloud migration strategy can prepare your business better for what is to come in 2023.
Are Cloud Services Worth the Hype?
Yes, they are.
This isn’t merely a case of intangible benefits but a solid, proven business value of $1 trillion that organizations can tap into through cloud adoption. The cost savings, operational efficiency, reduced real estate requirement, increased and improved output, etc., work to redirect business expenses into revenue.
With that said, an iffy cloud migration strategy is also the cause of revenue leakage for a good number of organizations, and the number is shocking.
Businesses waste about $100 billion on cloud migrations owing to unexpected costs, delays, inefficient migration plans, etc., ending up with compromised operations, partial migrations, unusable/lost data, malfunctioning enterprise apps, and problems that take away from the benefit of cloud migration.
These numbers make it essential to glean from the successful migrators and partner with the right experts to unlock the 1T potential of your business through the cloud.
Implementing a Cloud Migration Strategy That’s Worth Its Weight in Gold
However, this blog will only touch upon these aspects of cloud migration briefly. We will focus more on other pressing aspects that bear upon cloud migration. As mentioned, migration missteps cost businesses about 14% of cost overruns on migrations annually.
To ensure your cloud migration strategy focuses more on equipping your business for the future rather than delaying its growth, we will reapproach the methods for migrating your data to the cloud.
Studying cloud adoption outperformers (companies that migrated 60% of their IT-hosting spend to the cloud successfully and within the set timelines), certain aspects of cloud adoption have come to light that doesn’t belong to the traditional 6R approach.
Let’s see what they are.
- 1. Upfront Investment
Successful cloud migration depends on the organization’s readiness for the investment—even if it means decommissioning data centers and bearing termination penalties. McKinsey’s study shows that upfront investment commitment readiness for successful migrators was 28% higher than for those struggling. 40% of the ready-spenders achieved their cloud implementation goals, as opposed to only 15% of those who did not spend.
- 2. CEO Involvement
C-Level involvement in such matters may sound counterproductive. However, numbers paint a different story.The same McKinsey study establishes that CEO-backed decisions and C-Level involvement help plan a top-down approach that gives the CIOs and workforce the “air cover” needed to feel secure in the move.If numbers have to spell it out, CEO involvement in cloud migration is 17% more likely to result in the full realization of the migration roadmap.
- 3. Security and Compliance Roadmap
Cloud technologies are in their evolutionary stages and still vulnerable to cybersecurity loopholes. A sound cloud migration strategy involves paying attention to security and compliance anew. A readjustment, recalibration, and overhaul plan must be set in motion to ensure that the 6Rs are successfully implemented. Companies that laid out their securities and compliances for the migration were 24% better at achieving their migration milestones than others.
Once you’ve dealt with these funnels that siphon funds away from effective cloud migration, you can implement the 6Rs of cloud migration strategy without worrying about cost overruns and delays.
AWS Cloud Migration with Trantor
Cloud migration strategies look good on paper, but implementation is another story. The most cost-effective and time-efficient way to migrate is to understand the skill gaps in your organization and partner with cloud services experts like Trantor to fill that void.
At Trantor, we believe in establishing value creation for businesses as the North Star metric to navigate cloud migrations, enabling us to better capitalize on available resources. We help your business implement cloud migration while ensuring the budget stays as close to envisioned as possible and within timelines.
Whether your company is looking to implement a cloud migration or has broader cloud resolutions for 2023, Trantor has the expertise and experience to help you achieve your goals.