Five Tips for a Seamless Cloud Migration
Start by selecting the right cloud provider.
Selecting a knowledgeable and unbiased cloud provider is paramount, especially when you’re a hedge fund or other financial services firm. First, you must determine if the cloud is an appropriate fit based on the needs and priorities of your business. Although cloud is a common buzzword in the world of technology, and has become popular in recent years due to benefits including scalability, control, and cost efficiency, it isn’t always the right choice. A reputable provider will help you determine if an on premise setup actually makes more sense for your business by performing a cost/benefit analysis and audit of your technology infrastructure.
Evaluate current performance.
You should take time to evaluate your current IT environment’s performance, costs, and functionality before moving to the cloud. Once you’ve migrated, you can assess your cloud performance against these metrics to fully determine the benefits.
Choose the right cloud environment.
Once you’ve determined that the cloud is the right fit for your business, you must evaluate the different cloud models available and select one to host your IT environment. Cloud models come in both public and private forms. Hedge funds and other financial services firms usually prefer private cloud models because they offer enhanced control, privacy and security of users’ data. Private cloud models also typically offer enhanced services such as managed backup, intrusion detection and DR replicated across multiple data centers and built into the cloud infrastructure. Public clouds, on the other hand, are provided at a low monthly fee by enabling clients to access a shared hosting environment. However, although these models offer services at a much lower rate, they often compromise security and control by cutting down on customization.
Understand the different private cloud models.
There are two different types of private cloud designs. The first design employs a privately owned piece of hardware that is shared by multiple clients. Because the hardware is privately owned by the provider, and client data is segregated through a variety of methods, such as physical, logical, data, network or performance segregation, it offers an enhanced level of security from a public cloud model. In the second design, a separate, private piece of custom designed infrastructure is provided. In this case, the client data will sit alone not be shared by any other clients. This approach is the most secure private cloud model, but also requires a much more costly and complex development process. It is important to determine which model makes the most sense for your business from both a security and cost perspective before making a decision.
Determine which applications should be moved to the cloud.
Based on your business needs, it may make more sense to only move a portion of the applications to the cloud. Applications can include email, CRM, HR programs, and trading tools. It is important that you speak with your cloud provider to determine which applications, if any, would make more sense to leave running on site.