Benefits of Cloud Migration for Businesses

The cloud migration process involves moving all or a part of an organization's data, applications, and services from on-site, in-house data center infrastructure to a public or private cloud service – accessible to users, on-demand, over the internet.

Cloud environments are more diverse and offer companies various deployment options like private, public, or hybrid cloud architecture.

Here are the key drivers for cloud migration;

• Cost-effective backup and recovery capabilities
• Reduced operational costs and freeing up IT resources
• Safe and secure infrastructure

Many strategies can be used for cloud migration, but Gartner’s five strategies for cloud migration were formulated in 2011 and remain relevant. AWS has added two more steps to these original 5 Rs of Gartner for migration.

Let’s look at these strategies in depth-

1. Refactor or re-artichect. Rewriting some parts of the application to make it work in the cloud environment. As an example, older databases may need to be updated to move the apps using them to the cloud. Refactoring is usually done when new functions are being added, or the app is being modernized & to eliminate vulnerabilities.
2. Replatform (lift and reshape). This involves adding a new optimizing mechanism to the application that is being migrated to the cloud, like changing the database to another database more suited to the cloud environment.
3. Repurchase (drop and shop). This would involve switching to a different product. It would mean typically moving to a SaaS subscription model from a traditional license model.
4. Rehost (lift and shift). When the app is moved to the cloud without any changes or making minimal changes to the architecture to take advantage of the cloud capabilities. While this looks like an easy option, it can often lead to compatibility issues, especially in migrating old apps. This strategy also may not address the underlying performance issues or vulnerabilities.
5. Relocate (hypervisor level lift and shift). Moving the infrastructure to the cloud without purchasing additional new hardware, rewriting applications, or modifying the existing operations.
6. Retain (revisit). Retaining the applications in the source environment, which may need refactoring or even the legacy applications that the organization may want to retain but does not have any business reasons to migrate to the cloud.
7. Retire. Some legacy applications may not serve any further purpose or may not be needed and can be retired or put away. In such cases, it may be better to decommission or retire such applications instead of moving them to the cloud.

A well-defined and researched plan can keep cloud migration on track and within budget. Some reasons why companies plan for cloud migration -

Security- Central data storage on the cloud offers stronger security than traditional data centers. Stored data is encrypted making it safer than other hosting solutions. Cloud technology is updated frequently along with the security profiles which helps in keeping up with cybersecurity threats. Along with these security updates, cloud providers offer a variety of other security options like firewalls, tokenization, and Virtual private networks (VPN).

Cost saving- Onsite data storage and its security require capital expenses for setting up servers and recurring workforce costs. Maintenance and upgradation related to cloud software and hardware is borne by the providers of cloud services, allowing companies to focus more on their software products to give better services and features to their clients. Cloud providers also offer pay-per-use facilities wherein costs are incurred based on the use of storage space and services.

Scalability- Cloud storage and computing can be scaled up to support more users and larger workloads. This is possible in cloud storage as organizations don't have to set up more physical servers on-site or increase other related hardware infrastructure along with software licenses.

Faster processing- Cloud platforms offer scalability and are designed for fast performance and can handle heavy data transfers easily and quickly. This reduces transaction processing times for the bank and reduces latency.

Reliability- Cloud computing data centers offer backup, and disaster recovery facilities & the data is mirrored at multiple sites making it a more reliable option than an onsite data center.

Compliance- Cloud computing can help banks meet regulatory compliance requirements as per the financial industry standards.

Elimination of routine tasks- By moving the infrastructure to the cloud, the IT department is free from routine maintenance and day-to-day security. Additional staff is not needed in case of expansion and the current workforce can focus their time and energy on the specific needs of the institutions.

The key takeaways to achieving successful cloud migration are -

• Understanding the needs, and proactive and advanced planning makes cloud migration relatively simple
• Finding a right cloud partner
• Detailing out the roll-out plan
• Prioritizing information for cloud migration
• Appointing a migration manager

Cost reduction, efficiency, offering enhanced customer experience, and running routinely updated software with increased security are some of the reasons why more and more companies are considering moving to cloud computing. Cloud tech can enhance business processes helping companies transition from local onsite servers. The 7 R strategies can help in migration planning and moving legacy applications to the cloud.

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