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

$91b

US 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

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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.

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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

Contact us by location

 

Contact

Contact us by location

  • Bahamas

    Ernst & Young
    P.O. Box N-3231
    Nassau - Bahamas

    Phone: +1 242 502 6000
    Fax: +1 242 502 6095

    ey@bs.ey.com

  • Bermuda

    EY Bermuda Ltd.
    3 Bermudiana Road
    Hamilton, HM08
    Bermuda

    Phone: +1 441 295 7000
    Fax: +1 441 295 5193

    ey@vg.ey.com

  • British Virgin Islands

    Ernst & Young Ltd.
    Ritter House
    Wickhams Cay 2
    Road Town
    Tortola VG1110, British Virgin Islands

    Phone: +1 284 852 5450
    Fax: +1 284 852 5451

    ey@bm.ey.com

  • Cayman Islands

    EY Cayman Ltd.
    62 Forum Lane
    Camana Bay
    P.O. Box 510
    Grand Cayman
    KY1-1106
    Cayman Islands

    Phone: +1 345 949 8444
    Fax: +345 949 8529

    ey@ky.ey.com

 

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