Enterprises need to keep reinventing and transforming their businesses in order to fulfil their customer expectations, and stay sustainable in the increasingly competitive world. They are looking for value beyond CapEx benefits that they get from the lift-and-shift of the applications. In such a scenario, Cloud Native is a key digital transformation enabler that can help them achieve their goals. By using Cloud PaaS & IaaS, the enterprises can adapt to the changing operational conditions automatically, with maximal speed, resilience and dynamic scale.
According to Gartner, 75 percent of application purchases supporting digital business will be “build,” not “buy”. Thus, it’s not only “What”, but also “How” we build business-critical applications that will play a crucial role for enterprises to stay ahead of their competition. We are already witnessing enterprise customers launching aggressive projects for moving their data centers to cloud. But, the real tussle will start, while taking the next coherent step to migrate applications to cloud.
This brings us to the next wave of “Build for” and “Build On” cloud, leveraging various Cloud Native Services, or Cloud Platform-as-a-Service (Cloud PaaS). Cloud Native is the new paradigm for dynamic scalability, Microservice-based architecture, Containerization, DevOps delivery – provided “as a service”. Cloud Native approach helps enterprises gain competitive advantage through new business models, cost optimization, faster time-to-market, agility, and to increase the overall reliability and robustness of applications.
According to Markets and Markets research firm, “The Platform-as-a-Service (PaaS) Market will be worth $6.94 billion by 2018.” Thus, there is a huge market for the Cloud Native development, and companies are already making strategic investments around this space. Enterprise customers are rapidly adopting platform-as-a-service (PaaS) for augmenting their strategic Initiatives, and more enterprises believe that PaaS will be the primary form of platform delivery going forward. This approach has one of the fastest adoption rates amongst the new technologies that we have witnessed.
We see a lot of traction in Banking, Insurance, Media & Entertainment, Auto Manufacturing and Oil & Gas industries, where enterprise customers are looking at moving their application portfolio to Cloud Native type of an environment.
Let’s look at how Banking sector is adopting Cloud Native Practices
Today, there is a shift in the approach of the banks from their traditional conservative, to a technology led-business model. We see a lot of banks exposing their APIs, and moving towards public cloud native kind of an environment for better scalability, flexibility, customer experience and reduced TCO. Most of the banks have already started using Cloud Native for their core banking services.
Typical use cases were the banking industry finds values includes Fraud and Security Management, Payment Solution, Credit Risk Evaluation, Mobile Banking, Trading, Compliance, Process Automation, Personalized Sales & marketing, Risk modelling, online brokerage solution, multi-channel Customer experience Management, etc.
While embarking on a Cloud Native journey, enterprise customers have a number of tough technology choices to make. Which applications can be moved to cloud first? Which cloud platform provider to choose? What is the right approach- public, private or hybrid? What will be the ROI by moving to platform-as-a-service? This is where Transformation Partner can help you, on your cloud native journey in the areas of Cloud Strategy, migration/re-platforming, DevOps enablement, microservices-based development and containerization.
Thus, we will see more enterprise customers adopt Cloud Native development going forward for their profitable business outcomes. What about you? Are you ready for this journey?