Cloud cost management is not simply an operational concern. It requires detailed analysis, budget planning, and above all the right strategy. One of the solutions is to embrace public cloud, which means you are accepting a modern methodology and a new business strategy. Success on that front entails agile collaboration across various areas including governance, architecture, operations, and, of course, finance.

Global Market Cloud Statistics in 2020

Worldwide statistics show public cloud global growth. In addition to that, the period between January 2020 and April 2020 marks an increase in the usage of enterprise cloud services both in Government (45%) and in Financial Services (36%). Meanwhile, 2020 cloud adoption statistics show that 74% of Financial Services strongly believe that cloud computing gives their businesses a competitive advantage.

Cloud Cost Management and Return on Investment (ROI)

Over the years, financial services firms and asset managers have strived to achieve unique business goals while staying ahead of the curve. Even with immediate, quantifiable financial benefits of cloud implementation, companies still struggle to maintain ROI. Why does this happen? The primary reason is being unprepared and the tendency to overspend. The best solution is to keep a close eye on cloud costs and manage your cloud spend to ensure a healthy ROI. Top cloud providers like Microsoft Azure and Amazon Web Services (AWS) bestow their clients with native tools for cloud cost management. These tools unlock effective ways to optimize and monitor cloud costs. Rightsizing or removing idle resources makes it easier to zero in on what is profitable. Utilizing these tools companies can slash costs without disrupting workload performance.

Switching to OpEx With Caution

This is something we have touched on in the past, especially when talking about refactoring legacy applications. As companies make the switch from CAPEX (Capital Expenditure) to OPEX (Operational Expenditure), things can change rapidly. Businesses pay only for the resources that are used when they are used. So, yes, logically, the switch makes sense, which is why OPEX is becoming a cloud adoption trend. Smaller companies usually make the transition quickly. Large scale enterprises, however, are more cautious when it comes to cloud services. Eager to jump on the cloud, they turn to private cloud services, which traditionally involve higher expenses and long-term commitment. These companies need to process and run lots of data, so they wind up overprovisioning and large OPEX costs that are not within the intended budget. That is why caution is advised before any resource consumptions spin out of control. Learn more about cloud adoption missteps.

Optimizing Cost with Granularity

Even though OPEX is the way to go for most businesses, some concerns linger. How can large businesses remain vigilant when it comes to resources, compute power, and cloud cost in general? Easy – with granularity. The public cloud usually leads to a more granular approach. The optimization of services and having costs managed can refurbish financial business operations to a more auditable workflow. You also can segment your data management according to business requirements: trading team, dev team, and other business units.

Smooth and Painless Upgrades

With cloud-managed services or public cloud in general, companies frequently reap the benefits early on. Once your business has fully moved to cloud infrastructure, maintenance, and upgrades can be built around a refined system of automation, with the least or even no disruption to end-users. The best part is that the bulk of these changes can be incorporated seamlessly within the cloud platforms offerings at no additional cost.

Technical Staff, IT Governance and Innovation

Technical professionals devoted to complex IT operations and cloud management are not easy to come by. Their role also changes significantly towards more of IT governance and architecture skills. One of the priorities is to refine the cloud consumption process. Teams should be responsible for their own consumed cloud resource and services, but they need to be supplied with resources to forecast and manage costs on their own. The other key role for your technical staff is to be the cloud evangelist, always pushing the internal technologies towards the next level of innovation of cloud services. Both of these roles are complex operations and relying on an expert cloud managed services provider can help modernize your applications and move the entire firm towards a healthier ROI. Your business becomes more cost-effective and your staff can continue enhancing the core business.

Cloud Assessment and Takeaways

Cloud adoption has become an essential component of business growth in 2020. Moving to the cloud is a difficult decision though. Whether this is the right thing for your company is another matter entirely. Cloud assessment can be an extremely challenging process and that is something Hentsu experts can help you with. The cloud market is always changing, always evolving, so keep your finger on any news and developments by checking our Weekly Cloud Trends, and other relevant blog posts. Feel free to reach out to our cloud solutions and cloud engineering team, if you have any questions.

Date/Time

Date(s) - 01/01/1970
12:00 AM - 12:00 AM

Location

600 5th ave. NY, NY
[et_pb_section fb_built="1" _builder_version="4.1"][et_pb_row _builder_version="4.1"][et_pb_column type="4_4" _builder_version="4.1"][et_pb_text _builder_version="4.1" link_text_color="#000000" hover_enabled="0"]Cloud implementation, particularly in the Financial Services or hedge fund space, requires meticulous planning. This year has seen an increase in cloud usage worldwide. Companies are approaching Hentsu, not only to inquire about vital cloud adoption methods but also to discover more about the general state of the cloud space. For that purpose, we emphasize some of the most important numbers from the business and investment world, specifically touching on the growth and evolution of the cloud market, the usage of public cloud vs. private cloud, the utilization of public cloud providers, and so on.

Cloud Adoption Statistics and Cloud Growth in 2020

Business pressures are rising, but the cloud market is expanding, to say the least. Based on research conducted in 2020, business owners are eager to tap into the cloud. In many cases, company CEOs are completely aware of the advantages of cloud tech. Stats show that certain businesses are being cautious with cloud adoption, but quite a lot of others seek to embrace cloud trends. Incorporating rapidly evolving cloud technologies seems like a risk to some, while many still see the process as a leap in the right direction. Questions are also being raised regarding the impact of COVID-19, although ample statistics reveal the pandemic did not create any critical points within the cloud space. Quite the contrary, in fact. Businesses are looking for tools that help them spin-up resources fast and easy. They are also on the lookout for straightforward cloud deployment methods. To that end, the infographic you see below singles out interesting data related to the usage of public cloud tooling such as Terraform and Ansible. In addition, we focus on some of the reasons businesses are adopting cloud. Research carried out in 2020 goes beyond mere public cloud statistics and delves a bit deeper into enterprise IT budgets for public cloud spend, investment into public cloud across various fields including Manufacturing, Education, Government, Financial Services, and more. To discover more, DOWNLOAD or view our deep-dive infographic below:[/et_pb_text][et_pb_image src="https://3bb4f13skpx244ooia2hci0q-wpengine.netdna-ssl.com/wp-content/uploads/2020/10/2020-Public-Cloud-Statistics-01-scaled.jpg" url="https://hentsu.com/wp-content/uploads/2020/10/2020-Public-Cloud-Statistics.pdf" url_new_window="on" _builder_version="4.1"][/et_pb_image][et_pb_text _builder_version="4.1"]

*Important note: A huge thanks to Gartner, CNBC, Statista, Forbes, and other reliable sources, as cited below.

Sources:

https://www.forbes.com/sites/louiscolumbus/2020/04/12/the-state-of-cloud-business-intelligence-2020/
https://www.cnbc.com/2019/04/22/apple-spends-more-than-30-million-on-amazon-web-services-a-month.html
https://www.fintechnews.org/how-cloud-computing-is-driving/
https://www.information-age.com/downloads/multi-cloud-fundamental-to-financial-services-transformation/
https://www.gartner.com/en/newsroom/press-releases/2020-07-23-gartner-forecasts-worldwide-public-cloud-revenue-to-grow-6point3-percent-in-2020
https://www.statista.com/statistics/511293/worldwide-survey-cloud-devops-tools/
https://hostingtribunal.com/blog/cloud-computing-statistics/
https://www.mcafee.com/blogs/enterprise/cloud-security/working-from-home-in-2020-how-cloud-use-changed/
https://www.flexera.com/blog/industry-trends/trend-of-cloud-computing-2020/
https://techjury.net/blog/how-many-companies-use-cloud-computing/

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Date/Time

Date(s) - 01/01/1970
12:00 AM - 12:00 AM

Location

600 5th ave. NY, NY
Singling out the key public cloud benefits is not as simple as you might think. There are many things to consider in a complex and highly competitive market. When moving to the cloud, you have to decide which type of cloud environment is best suited for your business. Before you do that, take the time to properly delve into the key differences between the public and private cloud. The next step is to understand the fundamentals of public cloud, and what they can mean in today’s technology market. Successfully implementing cloud-based functionalities and tooling into your workflow can be tricky and challenging. Fortunately, cloud tech continues to evolve at an astounding pace. Setting up your own cloud-powered business has never been easier. Companies now infuse every aspect of their business the following advantages of public cloud:
  1. Public Cloud Services with Scalability
  2. Amazon, Microsoft, and Google Work for You
  3. Fast and Simple Set-Ups
  4. Cost-effectiveness
  5. Business Continuity and Resilience
  6. Speedy Data Recovery
  7. Security Through Multitenancy
  8. Lightening the Workload for IT Staff
  9. Agility for Companies Big and Small
  10. GEO Flexibility and Powerful Global Presence
  11. Reliability and Failing Fast

1. Public Cloud Services with Scalability

Many large companies are fully aware that public cloud services add a handy auto-scaling part to their business operations. Scalability is highly present in various PaaS and SaaS scenarios. Virtual machines (VMs) in public cloud can be easily created, scaled, upgraded, downsized corresponding to business needs, of course. Workload balancing becomes a cinch, especially when compared to traditional on-prem conditions, which usually involve tough to keep, server-heavy computing methodologies.

2. Amazon, Microsoft, and Google Work for You

Public cloud providers such as Google, Amazon and Microsoft are constantly competing to create innovative services and solutions. Their goal is to streamline your business, through collaboration powerful tooling and more. For that matter, technologies, tools, and software are constantly updated. Maintaining the cloud stops being a problem and quickly becomes a solution. Using powerful, well-polished infrastructure from industry-leading cloud providers, dramatically reduces any hassle or headaches you would otherwise experience with things like system and server maintenance. Users or clients are free to focus on production, development, and testing.

3. Fast and Simple Set-Ups

Normally, you should be methodical and careful when switching to public cloud. However, setting up public cloud for your business can be completed within hours if necessary. Deployment and configuration can be handled remotely, and it will not be much of a bother for your IT team.

4. Cost-effectiveness

Managing things like bandwidth, hardware, application improvement, can be a predicament. With the public cloud system, such responsibilities rest with the provider. This effectively reduces capital spending right from the start. There are little to no initial investments. Another extremely important financial aspect is using the pay-as-you-go model. Payments are made monthly or annually, albeit resources are only used as needed.

5. Business Continuity and Resilience

Digital transformation is not just a mere buzzword. It is very much a reality, thanks to diverse public cloud benefits. Migrating your legacy applications to the cloud future-proofs your business and ensures continuity. In addition, your applications are constantly kept fresh, up-to-date and

6. Swift Data Recovery

Multiple infrastructures are available within the public cloud. This effectively reduces difficulties when deploying a disaster recovery plan. With public cloud, there is a minor risk of significant data loss. Also, businesses do not have to waste valuable time when transferring backup data from their own local in-house servers to recover critical data following a disaster. The public cloud handles this through an automation process, which involves quick data recovery with any mishaps or errors.

7. Enhanced Security Through Multitenancy and Fast Data Recovery

Public cloud providers put a high emphasis on security. Also, using public cloud infrastructure denotes a multitenancy foundation. So, you have multiple users on a single server at one time. However, the data stored by users stays safely stored and isolated from other users.

8. Lightening the Workload for IT Staff

This effectively ties back to the public cloud being cost-effective. Companies give massive budgets for computing costs, and IT staff training and education. The reason is that expert IT engineers are difficult to find and are typically quite expensive. Once your business hops on the public cloud, any cloud management or cloud-related services are handled externally. Internal teams can, therefore, free of stress, added training and can concentrate the core business.

9. Agility for Companies Big and Small

To stay afloat in today’s dynamic digital market, companies are accelerating public cloud adoption. Regardless of the business nature, they turn to the cloud for provisioning resources, handling complex workloads, big data management, using cloud-powered tools, innovative technologies, and so on. Agility is a primary characteristic of the public cloud space. Issues and challenges of a technical nature are severely reduced. Everything quickly shifts towards quality of service because you can prioritize tasks towards better client satisfaction. You effectively streamline in-house operations, thus improving delivery, collaboration, data gathering, data management, rollout efficiency, and more.

10. GEO Flexibility and Powerful Global Presence

Public cloud providers, with their massive networks of servers, network bandwidth, IT resources, make powerful cloud infrastructure available worldwide. Remember, Amazon, MS and Google also have data centres in various countries, so you can select according to business needs. So, if there is any sensitive data that needs to stay within a certain GEO location, the public cloud allows you to simply select the data centre from a specific region.

11. Reliability and Failing Fast

The well-known maxim of ‘failing fast’ has helped define the purpose of the public cloud. Historically, the public cloud environment is always based around well-thought-out architecture and designing to fail fast. On-prem or private cloud (data centres, if you will) is known for having a network of servers that can experience failures quite often. Now, keep in mind that public cloud also experiences outages and failures. However, recent research has shown that public cloud IaaS workloads will experience 60% fewer security incidents than traditional data centres by 2020. What is more, Gartner forecasts that by 2025, 99% of failures in cloud security are going to cause by customers.

Date/Time

Date(s) - 01/01/1970
12:00 AM - 12:00 AM

Location

600 5th ave. NY, NY