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Cloud solutions are transforming the way organizations handle business. They offer agility and scalability, which is essential for firms to stay ahead of competition. Cloud services provide the flexibility and scalability needed to meet customer requirements. This leads to better efficacy and increased customer satisfaction – both necessary for progress.
The acceptance of cloud solutions has caused an expansion in the Cloud Service Provider industry. It provides IaaS, PaaS, and SaaS services, which let companies modify and improve operational efficiency cost-effectively. Cloud solutions are a more economical option than on-premises infrastructure, which leads to lowered IT expenses without affecting performance.
Data volumes are increasing, so cloud solutions are the ideal, cost-effective answer for storing, analyzing, and processing data. Cloud-based analytics tools can give businesses real-time insights, allowing them to make fast data-driven decisions. With cloud solutions, businesses can remain ahead of the game and meet customer needs in an ever-evolving market.
Cloud Solutions and Business Agility
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Businesses are turning to cloud solutions for agility and competitiveness. The need for flexibility and adaptability is ever-growing. Cloud solutions provide a quick reaction to market changes.
Scalability and cost savings are an added advantage with cloud solutions. Teams can collaborate more efficiently from different locations. Plus, there are lots of tools and resources on the cloud. This allows businesses to experiment without high costs.
Netflix is a great example of how cloud solutions have driven innovation. They changed their business model from DVD rentals to streaming, and this is why they are still successful.
Overall, cloud solutions give businesses the ability to remain competitive in a changing market.
Benefits of Cloud Computing
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Cloud computing is a technology that has revolutionized the business world by offering flexibility and scalability. Its distinct advantages include improved efficiency and agility in IT, unlocking new value for organizations, and opening doors for exploring new opportunities. This makes cloud computing beneficial for businesses of all sizes.
Improved Efficiency and Agility in IT
Cloud Technology revolutionizes business operations. It brings efficiency and agility to IT. Companies can scale their IT services as needed, without costly infrastructure. This helps them react fast to market changes and emerging opportunities.
Cloud solutions offer new value streams that weren’t possible before with traditional IT. The accessibility, reliability, and security make data processing, analysis, and reporting faster. Plus, companies can access advanced software applications running on secure platforms.
Multi-cloud approaches are becoming popular. Workloads are spread across multiple cloud environments, helping businesses optimize. But, they need to make changes to operating models, close skill gaps, and manage data well for successful migration to the cloud.
In short, Cloud Solutions benefit organizations of all sizes. They revolutionize how businesses operate, unlock new opportunities, and drive innovation. Plus, improved efficiency and agility in IT are top advantages of cloud tech adoption.
Unlocking New Value for Organizations
Cloud computing is undeniably a game-changer. It gives businesses an edge in the market, allowing them to scale quickly and stay ahead of competitors. Plus, it streamlines operations, leading to increased efficiency, productivity, and cost savings.
Organizations can take advantage of cutting-edge tech like predictive analytics and machine learning to gain insights. Cloud solutions also open up new opportunities that were previously out of reach. Services support critical functions like finance, HR, marketing, and sales.
Initial worries around security and data confidentiality have been addressed. Forbes reveals 85% of enterprises have a multi-cloud strategy. This indicates how cloud adoption has become essential for digital transformation in different industries.
Cloud computing unlocks new value for businesses and organizations. By embracing cloud technology as part of their planning process, financial benefits, new opportunities, and innovation can be realized.
Exploring New Opportunities
Cloud technology has opened up amazing chances for businesses to explore. They can test and experiment without sinking in lots of resources. It offers flexibility, allowing them to grow or shrink as needed and enter new markets with little risk.
The agility to make quick improvements is a big plus. Companies can innovate by introducing new products, services and business models. Plus, they can use AI and ML to get customer data, find patterns and make predictions.
Small-to-medium-sized enterprises (SMEs) have a big advantage with cloud tech. It’s not always feasible to build on-premise infrastructure, but cloud computing allows them to compete with big players. Providers offer cost-effective options, so SMEs can do marketing campaigns and focus on business operations.
In summary, cloud tech has made a huge difference for businesses. Its flexibility, cost-effectiveness and agility equip companies with the tools to thrive.
Adoption of Cloud Technology
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Cloud technology has enabled businesses to optimize their operations, reduce costs, and increase their agility. Initially, businesses faced challenges concerning security and data confidentiality when adopting cloud technology. However, with the increasing strategic importance of cloud adoption, operating models, skills gap, and data management have been changed accordingly.
Initially Concerns about Security and Data Confidentiality
At first, worries were around security and data privacy in cloud computing. But, when companies began using the tech, its pros outweighed the initial fears. With proper risk management and safety measures, data can be kept and accessed securely in the cloud.
Still, worries linger among some firms. It’s vital to know that not all cloud vendors are the same. Companies must evaluate potential providers carefully before trusting them with confidential information. Plus, cloud adoption brings changes in operating models, skill gaps, and data management, which can be difficult for businesses.
Moreover, a multi-cloud strategy may be required, but this means managing various vendors. This further complicates security and privacy issues. To sum up, security and confidentiality must be a priority when deciding on and setting up cloud solutions.
Cloud Adoption More Strategic for Businesses
Businesses the world over are recognizing cloud tech’s transformative potential. Cloud adoption holds great strategic value for organizations aiming to expand, not just keep up with digital trends. The benefits of cloud adoption are manifold. Operating efficiency and agility improve, freeing up resources previously devoted to IT and bringing new value to the organization. Effective security measures ease data confidentiality and regulatory compliance worries, making cloud integral to IT strategy.
Cloud migration involves a major shift in mindset, behavior, and culture. It offers opportunities to explore AI/ML, IoT, etc., with quick technology deployment. It also demands new skills, filled with training or shared services. To adopt more fully, operational models must adjust to the dynamic environment.
Historically, early adopters worried about security threats and client confidentiality breaches. This caused legal issues and reputational damage. Now, businesses are focused on cloud solutions that make them more agile, simpler, and cheaper.
Cloud is essential when transitioning legacy IT to modern, multicloud strategies supporting diverse applications. In banking, where low latency and high network speeds are necessary for Web 3.0, the underlying networks must be up to the task. Thus, cloud adoption helps businesses transition to an agile IT system, making the organization more efficient. Cloud adoption is now fundamental to businesses worldwide.
Changes in Operating Models, Skill Gap, and Data Management Necessary
Organizations must adjust to cloud tech, including skill gaps and data management. Initially, cloud solutions were met with hesitation due to security and confidentiality fears. However, companies are now understanding the value of these solutions, requiring an operating model change.
To transition to cloud tech, an attitude shift, behavior change, and cultural shift are necessary. This involves applying cloud solutions, adjusting IT infrastructure, and employing a multi-cloud approach. Data governance policies and procedures for data breach or loss must also be implemented in order to lessen cybersecurity risks.
Cloud solutions offer flexibility and scalability, improving efficiency and agility in IT. This unlocks new value and allows for exploration of new customer experience opportunities. While a mindset and culture change may be required, the benefits of collaboration are worth it!
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Cloud transformation is crucial for business agility, but requires a significant organizational mindset shift, behavior, and culture change. In this section, we’ll explore options for transitioning to cloud and how multi-cloud approaches are necessary for the entire organization’s application portfolio. Source data shows that organizations that properly adopt cloud solutions experience an average 19.63% increase in company growth.
Organizational Mindset Shift, Behavior, and Culture Change Required
The evolution of cloud computing has rocked the way businesses operate, offering many advantages – including increased business agility. Taking up cloud tech, however, needs a shift in mindset, behavior and culture within an organization.
To transition successfully, there needs to be a change in organizational attitude, behavior and culture. This means having an agile team that can spot areas with new cloud features and explore them. It also requires departments to collaborate better.
To fully adopt a cloud system, it is vital to create skill sets to match required capabilities and update data management frameworks for hybrid or multi-cloud formations.
Cloud solutions are key for digital transformation as they provide unprecedented agility. To take full advantage, business must get rid of legacy infrastructures and embrace a culture of change.
To wrap up, a successful move to cloud computing needs a shift in mindset, behavior and culture. But the benefits of cloud computing far outweigh the challenges of making these changes.
Options for Transitioning to Cloud
Transitioning to the cloud comes with many benefits. But it’s a process needing careful planning and execution. There are different approaches to consider when migrating. For example, “Lift and Shift” – moving existing apps as-is. Or “Replatforming” – modifying legacy apps for better performance and cost-efficiency. Or “Refactoring” or “Modernizing” – redesigning apps to leverage cloud-specific features for agility and innovation.
Hybrid models, combining on-premise and the Cloud, can help transition without disrupting current systems. Partnering with a trusted cloud provider gives access to third-party expertise and cost-effective solutions.
Organizations must evaluate their current IT environment before transitioning. Identifying areas needing upgrades or investments is key. Ensure activities align with organizational goals, considering costs, security, data management and skill gaps.
Multi-cloud approaches offer organizations an alternative, as putting all your eggs in one cloud is risky. This gives various options based on specific needs.
Multi-Cloud Approaches Necessary for Entire Organization’s Application Portfolio
Organizations should think about using multi-cloud approaches to their application portfolio for agility and flexibility. This way, they can access services from more than one cloud provider, reducing risks and increasing efficiency. Companies can take advantage of new value and possibilities, and bolster IT capabilities, if they use multi-cloud approaches. But this change will need operating models, skill gaps, and data management practices to change in the whole enterprise.
In finance, there are strict regulations, security, and resilience needs that make cloud adoption difficult. However, strategic migration can upgrade the IT operations, making teams more agile with cloud operating models.
Small and medium enterprises (SMEs) can benefit from cloud solutions too. They can upgrade their technology without costly maintenance. This combines people, data, systems, and processes, giving a real-time view of the business.
Multi-cloud solutions are vital for businesses wanting to grow. This new approach needs a mindset evolution, plus changes to current operating models, skill gaps, and data management practices for the whole organization’s application portfolio.
Cloud Solutions in Banking
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Banks today face pressure to modernize their operations, keep pace with new technology, and deliver excellent customer experiences. Cloud Solutions in Banking is one option to address these challenges. This section will examine the potential advantages of cloud migration, the benefits of a rapid move to the cloud, competition from fintech startups, regulatory compliance, and security and resilience needs.
Fast Switch to Cloud as a Business Strategy
Businesses must be responsive and adaptable to stay competitive in the fast-paced, ever-changing world. Cloud computing is a popular strategy for achieving this. It provides faster processing and automated software updates, allowing companies to be agile and flexible. Their IT departments can focus on innovation instead of server infrastructure.
In banking, technology startups have put pressure on established institutions to adapt quickly. Cloud tech is becoming more commonplace; banks use it to enhance efficiency and stay competitive. But they must meet strict regulatory requirements and ensure the security of sensitive data. Regulators have addressed confidentiality issues when using public clouds.
Cloud technology is essential for success. Improved efficiency and increased innovation are the undeniable benefits. Companies in all sectors should consider cloud solutions to remain competitive and relevant.
Strong Competition from Financial Sector Technology Startups
The financial tech (fintech) industry is evolving rapidly and become a great challenge to traditional banks. Fintech startups have disrupted the financial sector with unique applications and solutions. This has put pressure on traditional banks to use new technologies like cloud computing, to stay competitive.
Fintech startups are providing a smooth customer experience by using cutting-edge tech, such as AI and blockchain. However, many traditional banks still use legacy systems, which hinders their agility. To meet modern consumer needs, traditional banks must use rising tech, including cloud computing. To do this, they need to invest in infrastructure, talent, and data management.
In addition, traditional banks must take a holistic approach to digital transformation. They must create a culture of innovation and collaboration. This will open new value streams and create better experiences for clients and employees.
Addressing Stringent Regulatory Requirements, Security, and Resiliency Needs
The banking sector faces major challenges. These include complying with strict regulations, security, and resilience needs. Banks must comply to ensure transparency, security, and trustworthiness. To deal with the increasing number of mandates, banks should adopt cloud technology.
Cloud solutions provide comprehensive tools for data security, privacy, and protection. Multi-layered security and high resilience safeguard confidential info such as consumers’ financial records, transactions, and personal identification details. Cloud adoption can help banks manage regulatory risks by monitoring suspicious activities that may breach privacy laws or violate compliance policies.
Natural disasters like power outages or cyber-attacks are risks that the banking industry must face. Disaster recovery plans must be effective to maintain customers’ trust in the bank’s services. Cloud adoption offers highly available infrastructure with failover mechanisms spread out across multiple regions worldwide. This ensures uninterrupted operations during disaster events.
Cloud solutions can effectively address these challenges while securing sensitive data and mitigating regulatory risks.
Potential Benefits of Moving to Cloud
Cloud computing offers many advantages for organizations. One of these is cost-efficiency. Service providers upgrade infrastructure automatically, saving organizations money on manual hardware upgrades.
Innovative solutions can be explored to improve operations and deliver new products or services.
Data breaches can be detected and responded to quickly, due to the service provider’s ability to monitor network traffic.
Storage capacity is unlimited with cloud technology, and organizations only pay for storage space used.
Collaboration and real-time communication can be improved via connected services.
Organizational mindset, behavior, and culture must be changed in order to ensure successful cloud adoption. This requires changes in operating models, skill gaps, and data management. The benefits of transitioning to the cloud depend on teams adapting and aligning with the required culture change management, while keeping essential functions operational.
Bringing Cloud Agility to Entire Infrastructure
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Bringing cloud agility to your entire infrastructure can be a game-changer for your business. In this section, we’ll discuss the importance of cloud technology for digital transformation and explore the benefits of cloud solutions that can be applied across your entire IT infrastructure. Additionally, expanding your cloud operating model can improve collaboration and consistency, and bringing the cloud operating model to your network can make your teams more agile.
Importance of Cloud Technology for Digital Transformation
Cloud tech has become super important for digital transformation in various industries. The agility and efficiency of cloud solutions has changed the way businesses work and compete in today’s dynamic environment. Companies are turning to cloud tech to unlock new value, explore opportunities, increase efficiency, and boost agility in IT operations.
The momentum of digital transformation has made cloud tech a vital factor in driving business innovation and growth. Its scalability, flexibility, and cost-effectiveness have major impacts on an organization’s success and competitive edge.
Adopting a cloud-first strategy can speed up digital transformation activities like migrating legacy apps to the cloud, automating workflows, boosting security, and optimizing resource allocation. Plus, orgs can use AI/ML technologies and edge computing from cloud solution ecosystems-infrastructure-and-platforms.
Cloud tech offers benefits beyond the IT department. It can power marketing campaigns and monitor data in real-time. It can also provide visibility across supply chains, and an end-to-end view of business operations that brings people, data systems, and processes together for better outcomes.
Cloud tech is essential for digital transformation initiatives. Synergies between people, businesses, services, and platforms can be created using it. And, scalable architectures for future-proof optimization can be accessed, plus machine learning and NLP-based computations can be used. Change management strategies that emphasize the mindset shift needed to make cultural behavior a priority are also required for successful implementation.
Benefits of Cloud Can Be Applied Across Entire IT Infrastructure
Cloud computing offers countless advantages to firms. It provides improved efficiency and agility for IT operations. Companies can adjust resources up or down, depending on their needs. This boosts business agility and helps companies act quickly to market changes.
One great advantage of Cloud is cost savings. It automates upgrades and eliminates the need for costly hardware investments. Businesses save on software licensing, data storage, and maintenance costs since they can “pay-as-you-go”.
Cloud solutions offer an up-to-date view of business operations by bringing together people, systems, data, and processes. This simplifies marketing campaigns across platforms. Also, with efficient data management, organizations make better decisions.
When companies use Cloud technology, they need new approaches to handle system components. Adapting to Cloud ecosystems and multi-cloud approaches are essential for organizational growth.
Cloud offers benefits for both big corporations and SMEs. One SME success story was investing in Cloud-based CRM technology. This streamlined their sales and increased revenue by 60% in two years, while reducing operation costs.
Cloud SaaS platforms can help businesses collaborate better between teams. This enhances competence and profitability. Bringing the Cloud Operating Model to the network encourages more collaboration and business agility.
Expanding Cloud Operating Model Can Improve Collaboration and Consistency
Expanding a company’s cloud model can have a major effect on success. By using the advantages of cloud tech, businesses can improve collaboration and uniformity throughout departments, while allowing access to resources and info from everywhere, anytime. This can boost communication and workflows, leading to increased productivity and better performance.
To get these gains, often a multi-cloud approach is needed for the entire app portfolio. This encourages teamwork, uniformity and agility in all areas of the business, and allows faster responses to market changes. But it takes more than technical knowledge; a shift in mindset, behavior and company culture is also needed.
In addition, cloud-based solutions can help with data integration, analytics, real-time insights, streamlined marketing, improved operational efficiency and cost savings. Centralized management systems help to keep multiple clouds organized and available, unlocking more efficiency and reducing the risk of costly downtime.
In conclusion, expanding your cloud model is essential for staying competitive and achieving long-term success. Embrace multi-cloud solutions and enable teams to work better, to stay ahead of the competition. Unleash the power of cloud tech today and build a better tomorrow.
Bringing Cloud Operating Model to Network Can Make Teams More Agile
The adoption of cloud tech brings many benefits, such as making teams more agile. By utilizing cloud solutions across IT infrastructure and network, teams can collaborate better and with more consistency. This expands traditional IT roles and offers more flexibility when accessing resources or completing tasks.
Organizations must transition to the cloud by bringing their operating model with them. To use these benefits, companies must have a flexible, adaptable mindset that can seamlessly embrace cloud solutions into their architecture.
Businesses that use cloud solutions gain a competitive edge by fueling innovation. Thus, they should view cloud solutions as a catalyst for business agility and to stay ahead of rivals, while providing better services to meet customer needs.
Cloud Solutions for Small and Medium Enterprises
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Small and medium enterprises (SMEs) are indeed utilizing cloud solutions to enhance their business agility and benefit from technological advances. The utilization of cloud solutions can bring cost-efficiency and ease in marketing integration for SMEs. By integrating people, data, systems, and processes, SMEs can acquire a real-time view of their business, thereby enabling superior decision-making and flexibility to adapt to alterations.
Cost-Efficient and Automatically Upgraded by Service Provider
Cloud solutions offer small and medium enterprises (SMEs) cost-efficient IT needs. By using cloud services, businesses can get automatic software upgrades, reducing their internal IT resources. This simplifies integrating marketing campaigns, providing a real-time view of activities.
Cloud technology also offers SMEs access to enterprise-grade features, which may be too expensive in-house. Service providers provide security measures to keep businesses’ online presence secure.
In conclusion, cloud technology presents a great opportunity for SMEs. It increases efficiency without investing in more infrastructure or managing technical tasks. By using these services/tools from external providers, businesses can gain significant savings over time. Cloud technology is a wise investment for any SME.
Simplify Process of Integrating Marketing Campaigns
Marketing campaigns are essential for businesses to succeed. But, integrating them across channels? It’s challenging and time-consuming. That’s why cloud-based marketing automation tools offer a solution. Here’s four steps to simplify the process:
- Choose a marketing automation tool that fits your needs.
- Integrate it with Cloud Solutions: A Catalyst for Business Agility and other cloud-based apps.
- Set up automated workflows to save time.
- Analyze performance metrics and adjust campaigns.
Cloud-based marketing automation tools have advantages. Accuracy, scalability, real-time monitoring – all are benefits. Plus, they let businesses combine people, data, systems, and processes to see campaign performance in real-time. This helps make data-driven decisions that lead to better results.
Pro Tip: Implement a cloud-based solution. It saves time and cuts costs, while improving campaign effectiveness. So, why not simplify the process with cloud-based marketing automation tools?
Combine People, Data, Systems, and Processes for Real-Time View of Business
Today, to stay ahead, businesses need to have an up-to-date view of their operations. People, data, systems, and processes must be combined. Cloud computing is the answer. It enables companies to collect and analyze data from multiple sources in real-time. This helps them make smart decisions, resulting in success.
Cloud solutions store data securely and allow access from anywhere. This provides insights into customer behavior, market trends and more. Companies can also integrate software applications on the cloud platform to automate business processes.
The combination of people, data, systems and processes on a cloud platform is great for businesses. It makes them more agile, reduces costs and simplifies IT operations. Cloud solutions are an adaptable way of managing IT infrastructure, freeing up time for businesses to focus on their goals.
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Cloud solutions are a must-have in the competitive business world. They offer flexibility, scalability and cost-savings. Our research has shown that with cloud technology, businesses can quickly adjust to changing needs. This boosts their profits and increases their competitiveness. Cloud solutions have become more accessible and affordable for businesses of all sizes.
They provide a chance to collaborate and share resources across departments, locations and countries. This creates a connected, borderless workspace to tap into the expertise and insights of their global workforce. With the cloud market predicted to reach USD 330 billion by 2022, companies need to get on board.
In sum, cloud solutions have transformed the way businesses operate and will remain a key factor in success. Organizations that invest in the cloud will enjoy greater agility, cost-effectiveness and competitiveness.
FAQs about Cloud Solutions: A Catalyst For Business Agility
What are cloud solutions?
Cloud solutions are technologies and services that enable businesses to access and deploy computing resources over the internet, without having to own and maintain physical hardware. Cloud solutions provide a range of benefits, including improved efficiency, agility, scalability, and reduced capital expenditure.
How can financial services companies capitalize on the cloud?
Financial services companies can capitalize on the cloud by leveraging its cost efficiencies, business agility, scalability, and flexibility. Cloud infrastructure accelerates modernization initiatives, helping banks leverage AI, Blockchain, and software containers. However, banks must be mindful of the stringent regulatory requirements, security, and resiliency needs when moving to the cloud. Financial regulators have set guidelines around the use of cloud computing, and the responsibility of safeguarding customer information lies solely with the banks.
What are AWS competencies and how do they provide recognized expertise?
AWS competencies are specializations that an AWS Premier Consulting Partner can earn by demonstrating deep expertise in specific areas of the AWS ecosystem. Company is an AWS Premier Consulting Partner and has 4 AWS competencies. The competencies provide recognized expertise and knowledge to help clients utilize AWS Cloud effectively, as well as access to exclusive training, support, and marketing opportunities.
How can an organization transition to the cloud?
An organization can transition to the cloud by adopting a range of approaches such as replatforming, refactoring, and replacing applications. Cloud transformation requires organizational mindset shift, behavior, and culture change, and most importantly, the right strategy, platforms, and solutions. Multi-cloud approaches are complex but necessary for the entire organization’s application portfolio.
What are the benefits of cloud operating principles?
Cloud operating principles deliver business agility and simplicity by improving IT and user experiences with principles like anywhere access, policy automation, and visibility. The benefits of cloud can be applied across the entire IT infrastructure, simplifying operations for on-premises and cloud infrastructures, and reducing complexity and fragmentation.
What are some success stories of cloud adoption in businesses?
Several businesses have successfully adopted cloud technology to improve efficiency, agility, and explore new opportunities. For example, a financial services company used cloud to quickly develop and launch a mobile payments offering, while EMC Global Services helped create and deploy the new application, putting the company in a leadership position. Banks are considering a fast switch to the cloud as a business strategy to tap into cost efficiencies, business agility, access to innovation, scalability, and flexibility. Banking features among the leading industries in cloud adoption, but banks face strong competition from financial sector technology startups that are entirely built on the cloud. According to a recent McKinsey survey, 60% of banks plan to shift bulk of their operations to the cloud in the next 5 years.
What are the benefits of cloud computing?
Cloud computing is a significant and disruptive development in the high tech industry. Businesses are adopting cloud to improve efficiency and agility in their IT and explore new opportunities. Visionary CIOs are unlocking new value for their organizations and changing perceptions of their role. Adopting cloud requires re-engineering business processes, re-thinking roles and skills, and imagining new possibilities. Cloud adoption is now more strategic and can provide business benefits. Organizations adopted cloud technology for IT cost reductions and flexibility. Cloud computing became popular in 2006 with Amazon Web Services launch. Initially, there were concerns about security and data confidentiality. Some organizations opt for a tactical approach of lifting and shifting legacy applications, while others see cloud as a transformation catalyst. Changes in operating models, skill gap, and data management are necessary to realize cloud benefits. Multi-cloud approaches are complex but necessary for the entire organization’s application portfolio. Some applications can deliver the same functionality in the cloud with minimal changes.