Advanced on-premises applications cause skills challenges for enterprises
A new report from Skytap and 451 Research has revealed that 74% of technology leaders within companies are running over half their applications on-premises, resulting in internal skills challenges.
The study looked to reveal the issues between cloud strategies and datacenter realities, with more than 450 C-level and Director-level technology leaders surveyed across the UK, US and Canada.
The results revealed that although 67% of respondents are looking to migrate and/ or modernise their on-premises applications within the coming two years, at least half also report a lack of on-site skills that are necessary in managing these applications and delivering new features.
Although enterprises are recognising the value of running their workloads on advanced IT infrastructure such as the cloud, the cons of doing so often outweigh the pros, with a significant number of companies adding complications and recruitment challenges in the process.
“Enterprises are motivated to leverage cloud to modernise, and clearly understand the benefits,” said Jay Lyman, Senior Analyst, 451 Research. “However, the sheer mass and complexity of on-premises application portfolios, combined with a propensity to choose the most arduous path to cloud, is creating a painful skills challenge that may require a more patient, progressive approach to find relief.”
Internal resistance to change is also holding digital transformation back, with more than half of UK firms citing this as a top three factor preventing them from upgrading. Chris Griggs, VP and EMEA GM at Skytap outlines the problem below:
"Businesses are choosing the hardest route to cloud migration, which requires rewriting code and refactoring legacy applications. By choosing such an arduous path to the cloud, we’re seeing organisations overcomplicating the migration process, putting unnecessary pressure on internal teams, who consequently spend more time on complex busy work with little immediate reward. As a result, cloud migration is taking longer, and is more painful, than necessary, even failing altogether. The costs rise as teams get overworked and hours and tooling costs pile up. These issues, coupled with IT leaders struggling to galvanise enthusiasm for change, is aggravating the digital skills gap.
“To digitally transform at scale, UK enterprises must embrace a more holistic modernisation strategy or face even greater risks from rapid technological change.”
CPQi x Finastra: Creating a dynamic partner ecosystem
Finastra is a fintech company that builds and deploys innovative, next-generation technology on its open Fusion software architecture and cloud ecosystem. Its scale and geographical reach enable it to serve customers effectively, regardless of their size or location - from global financial institutions to community banks and credit unions.
Formed in 2017, Finastra has US$1.9bn in revenues, 9,000+ employees, and around 8,600 customers, including 90 of the top 100 banks globally.
At Finastra, they make it no secret that partnering is at the core of everything they do. The pace at which the industry is transforming and the rate at which customer’s demands are changing means that partnering is a necessity. Its mission is to develop the world’s most successful, dynamic, and engaging partner ecosystem. In a bid to drive this mission to the next level, its approach to partnering has entered a new realm.
Partnering with CPQi
One of its partners is CPQi, a leading provider of digital transformation and managed services in the Americas, focused exclusively on Financial Services.
At CPQi, its developers can help you customise and integrate Finastra so it fits in with your business. “CPQi has the privilege of partnering with Finastra - one of the top three Fintechs in the world today,” said CPQi’s CEO, Terry Boyland.
CPQi can help ensure long-term scalability by helping move Finastra onto the cloud with its platform-specific digital transformation offerings. Migrating Finastra onto a cloud-based infrastructure can ensure speed of delivery and faster innovation.
They provide full-scale ongoing support of your Finastra platform and can maintain your Finastra platform with our high-quality onsite resources, ensuring the successful outcome of every project.
“We’ve worked with Finastra since the early days when its Kondor system was part of Thomson Reuters,” adds CPQi’s CEO Terry Boyland. “Kondor has been merged into and built on via a suite of financial services applications from Finastra deployed under the Fusion banner. We believe the Fusion fabric is a tremendous product enabling organisations to use modern development methods through the cloud to access some of their legacy platforms and their existing engines underneath. We’ve worked with Finastra on a number of applications, both in Latin America and in North America. They're great to work with and deservedly viewed as one of the top three financial technology firms in the world.”
Read the feature in Technology magazine.