In financial services, data has always been viewed as a strategic asset. To manage this data, organizations have invested heavily over several years and across a number of technology generations in the underlying data infrastructure. This approach has left a large data technology legacy along with silos of data linked to specific infrastructure and applications.

In our modern digital society, data is abundant, and storage is affordable. Businesses, governments and even individuals can (and do) collect every transaction, click, swipe, location, message and attribute in their datasets. With just a few clicks on my smart device, I can review data on every place I’ve been, how much I spent, every step I took, what the weather was like and who I was with. Businesses collect the same abundance of data.

Does it feel like your business is paying too much for cloud services? You are not alone. Cloud costs are expected to increase at a compound annual growth rate of 10.5% to 13.1% through 2025, according to the International Data Corporation (IDC). While getting a handle on those cloud costs may be tricky, you don’t have to worry — we’ve got you covered.

Businesses are increasingly embracing a cloud-first approach to increase market responsiveness and flexibility. The cloud-first approach refers to a cloud-like experience consisting of on-demand metered consumption of IT infrastructure, whether on the public cloud or inside private data centers. The rapidly evolving consensus among the tech leaders and vendors has led to an emergence of hybrid IT.

As businesses advance their digital transformation efforts, enterprise resource planning (ERP) systems are evolving — arguably as significantly as the shift from materials resource planning (MRP) to ERP. Just as businesses reimagined operations by leveraging advances in hardware and software in the 1980s, they’re now turning to next-generation ERP.

Analysts have found that roughly 50% or more enterprise resource planning (ERP) projects fail, and approximately half of all projects are considered challenging.

In the wake of COVID-19, we saw a significant shift toward as-a-service offerings, something we haven’t seen in years. From conversations with CIOs over the past 12 months, we know they are looking for the flexibility, efficiencies and cost savings they get from the as-a-service model. This is especially important to them as they evolve their business models in a hybrid IT direction and become consumers of IT.