Supporting your cloud journey
As organizations refocus their digital agenda, cloud is the perfect catalyst to realize digital transformation aspirations.
What we are seeing in the market
Organizations with a cloud-enabled IT operating model have been less prone to disruption of their business operations during the COVID-19 pandemic. The breadth of cloud technologies and related services is ever growing.
Market overview
94%of organizations now use some form of cloud technology.
Market overview
$91bUS dollars were spent on cloud IT services globally in 2019, the highest invested area of any IT third-party service.
Market overview
14%of IT spending is forecasted to be allocated to cloud technologies by 2023, as enterprises focus on customer experience and operational-led digital transformation initiatives.
Market overview
87%of organizations that employ cloud technology use a hybrid cloud approach.
Market overview
57%of organizations have seen a slight (31%) or significant (26%) rise in their use of cloud services as a direct result of COVID-19.
Your ongoing cloud journey
The journey to the cloud is not one that should be rushed, nor is the right solution for your business always a fully “cloud-native” approach.
We typically recommend financial services institutions (FSIs) follow a “cloud–first” path to support business agility, optimized migration and cost reduction, all driven by risk appetite-informed decision-making.
To capitalize on the benefits of a cloud transformation, FSIs should revisit other IT initiatives and align them to an overall cloud-first enterprise IT strategy.
Going to the cloud: EY three-phased approach
How we can help
Our portfolio of high-demand services is designed to support your cloud strategy and address your security and regulatory compliance requirements in a holistic and impactful way.
Benefits of working with EY
We bring to bear a wealth of experience with our world-class cloud capabilities, technology professionals and robust qualifications.
Extensive capabilities & experience
- $1 billion investment in client technology
- Risk-based approach to transitions into cloud ecosystems
- Proficient in the holistic evaluation and management of costs involved with each stage of the cloud adoption journey
- Sector-specific industry knowledge combined with deep technical skills, nearshore and offshore delivery scale, and proven delivery methodologies
- Deep understanding of technology and security risks, cloud technologies and services, industry-leading risk practices and regulatory compliance expectations
- Experience conducting cloud optimization assessments to identify cost-saving opportunities and maximize ROI over the long term
- Integrated transformation capabilities combining domain, strategy, technical and delivery experience
- Deep financial and technical knowledge with extensive experience assisting our clients with large-scale business and technology cloud transformations
- Experience partnering with our clients’ third-party software and services providers to deliver solutions in complex ecosystems including multiple projects at many of the world’s largest insurance companies
Global resources
- 300k professionals working out of 700+ locations in 150 countries across 6 continents
- 15,000+ professionals in our global delivery team
- 1,000+ IT professionals focused on architecture and design
- The EY cloud transformation practice has 100+ AWS and Azure certified architects with financial services experience
Outstanding credentials
- #1 leaders in global business transformation by Forrester Research
- #1 in innovation services
- #1 in IT services for banking, securities and insurance
- Recognized as a leader in 2020 IDC Worldwide Cloud Services
- Digital transformation and resiliency industry leaders
