Any form of digital strategy, even if it is an incremental move to the cloud, comes with tremendous technology and security risks. In a lot of cases, businesses invest in staffing, tools, and framework as a means to counter some of these risks. But another very important factor that must be taken into account is cloud pricing. Cloud pricing is so important that failure to put it into consideration can take down your entire digital transformation effort.
Cloud economics describes the principle, benefits, and costs of cloud computing. It plays an important role in helping organizations that are interested in embarking on digital transformation to have a proper budget for cloud spending.
Below are three important pillars of cloud economics that IT support services for law firms engaging in digital transformation must consider;
1. Cloud Economics is a multidisciplinary effort:
In order to be successful at cloud economics, it is important that you take it as a multidisciplinary effort. It can be quite difficult for any one enterprise to find and afford their own full-time cloud economics specialist. Such individuals are scarce in many hiring markets. Most likely, you would discover that your contracts and procurement people are not experts at cloud technology, so also the people in the accounting department. Your IT department, on the other hand, may not possess the financial or budgetary capacity to take on cloud migration.
The solution, therefore, will be to bring experts from finance, IT, and contracts. This will ensure you have people, frameworks, processes, and tools that will ensure effective cloud economics. This way, you would have created a cross-functional team that can take on your estimation tasks. The basic idea is to bring together your cloud and financial expertise under one team, only then can you master cloud economics.
2.CSP Tools, Techniques, and Methodologies used in IT support services for law firms:
Every Cloud Service Provider (CSP) offer cloud economics tools and framework that customers can use and integrate into their digital transformation initiative. Amazon Web Services has its Cloud Economics Center , Microsoft Azure has its Pricing Calculator, while Google comes with Google Cloud Platform Pricing Calculator. It is essential that you integrate these tools and framework in the planning stages of your effort, thereby allowing your IT and financial experts the opportunity to learn how your CSP regard the issue of pricing.
3. Estimation takes place before Application migration:
Although this is basic knowledge it is still worth mentioning that you must start your cloud cost estimation before your application migration. Your cloud economics team must work with your cloud architects to compare the upfront against ongoing costs and ascertain whether refactoring application will help save on cloud billing.
Even in cases where you are relying on a third-party firm to handle your cloud migration, you would still need an in-house estimation expert. This way you won’t have to rely solely on this third-party firm as the source of budget information.
It is important that cloud economics be a core part of IT support services for law firms when embarking on digital transformation effort. Putting the right people, tools, methodologies to manage cloud economics will help you rise above your competitors, making you a winner in the race of digital transformation.