In the context of the current digitalization efforts, increasing adoption of technology across the enterprise is a tidal wave that must be accompanied at all levels. The current financial industry’s average product release time is at least nine months. Business acceleration is a necessity. Today, businesses are increasingly relying on information technology and information sharing. To enhance business value, companies are looking for shorter technology implementation cycles and increased business agility, which can only be achieved by relaxing some of the internal IT constraints. For example, since data must be made readily available to users, the challenge of getting around technical and operational debt mean a substantial array of data types have to be stored within a data lake or a shared big data management framework. Public cloud options tend to make this easier.
Moving to the public cloud is a necessity that businesses will increasingly face for their core activities in years to come. This is best exemplified by the recent partnership IBM has publicized with Bank Of America (partnership to overcome regulatory and risk management constraints for the Financial Industry). While current approaches are mostly performed in a project-by-project fashion, a more thorough attitude to the management of the public cloud adoption becomes necessary. The aim remains to achieve shifting dollars from running the business of IT to growing the (digital) business.
Gilbert Swinkels, Partner