Cloud - Risk and Opportunities
Estimated reading time: 3 minutes
As you’re becoming accustomed to working remotely, you’ll begin to understand the huge impact cloud computing has on your business. All the services that you’re now using on a daily basis are enabled by a global network of cloud capabilities. Everything from your communication tools to your collaboration tools, is enabled by the cloud.
As the vast majority of the world moves to working remotely, the infrastructure that supports this environment is being stretched to its limits. We’re beginning to see a few global outages that are occurring and you need to be prepared to identify them and react in order to keep your business going.
Given the currency fluctuations in South Africa, your current cloud expenditure is likely to increase this month compared to previous months. This will be dependent on where your cloud services are hosted and what currency you’re billed in.
More and more organisations will be experimenting with cloud services in the coming weeks, finding creative ways to reach their customers or using AI and machine learning services to do workforce analytics. This will transform how businesses are operating and you as an organisation will need to adapt as well.
PwC suggests you do the following in the short and medium term:
In the short term, get control of your cloud spend and understand the implications of each of the services that you’ve deployed in the cloud.
Only 53% of companies monitor their cloud bills.
These new cloud services will have an impact on your IT spend. Additional services might have been procured to cater for the remote workforce. If you’re using cloud services that are priced in US dollars, you’ll also see an increase due to the ZAR/USD exchange rate.
In the medium term, evaluate your cloud strategy and ensure that you’re getting the business value from your cloud spend.
84% of digital transformation efforts fail.
Cloud is a key enabler for innovation that creates new business models and improved customer experiences; however, most companies struggle to realize the full potential of cloud due to a misalignment between cloud strategy and business objectives.
Having a cloud strategy and knowing your cloud spend is an imperative as the vast majority of the world moves to working remotely.
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