{"id":19726,"date":"2024-10-22T15:29:12","date_gmt":"2024-10-22T14:29:12","guid":{"rendered":"https:\/\/www.equalexperts.com\/?p=19726"},"modified":"2024-12-09T14:20:38","modified_gmt":"2024-12-09T14:20:38","slug":"optimising-cloud-for-superannuation-funds-driving-greater-business-value","status":"publish","type":"post","link":"https:\/\/www.equalexperts.com\/blog\/our-thinking\/optimising-cloud-for-superannuation-funds-driving-greater-business-value\/","title":{"rendered":"Optimising cloud for superannuation funds: Driving greater business value"},"content":{"rendered":"

Cloud computing is transforming how Australia\u2019s businesses operate, offering greater flexibility, scalability and cost-effectiveness compared to on-premise systems.<\/p>\n

With 70% of businesses using cloud platforms to accelerate their business initiatives,\u00a0 Gartner<\/a> is predicting that public cloud spending will reach A$23.2bn in Australia this year, up 19.3% from 2023.<\/p>\n

Cloud isn\u2019t just another IT tool – it has the potential to be transformative across all industries, including finance and superannuation. However, as highlighted in our earlier blogs, understanding your current situation<\/a> and laying solid foundations is essential<\/a> before embarking on a digital transformation.<\/p>\n

In this third blog of the series, we\u2019ll explore how finance organisations and superannuation funds can optimise and scale the cloud to unlock greater business value.<\/p>\n

The importance of a cloud strategy<\/h2>\n

Cloud is a top focus for CIOs, with 79% listing it as their second-largest tech funding priority <\/a>after cybersecurity. Despite its advantages, we regularly hear from our clients that their cloud costs are continuing to rise without returning the expected business value. Why? Because simply lifting and shifting everything to the cloud without a strategy leads to inefficiencies.<\/p>\n

In the early stages of cloud adoption, many companies used it for one or two limited purposes without giving too much thought to the overall architecture or configuration. But as businesses grow and add on more cloud applications, a lack of a cohesive strategy can lead to inefficiencies and spiralling costs.<\/p>\n

As we found in the first blog, conducting a comprehensive cloud health check<\/a> is key to understanding your current environment and defining an effective strategy. Cloud computing isn\u2019t just about moving away from on-prem systems\u2014it’s about preparing the groundwork to enable future innovations and meet business goals.<\/p>\n

Optimisation for the future<\/h2>\n

Think of it this way – if you want a supercar designed for speed you might spend a lot of time and resources crafting the body to maximise its aerodynamic qualities. But if you then install a tiny, low-powered engine, you won\u2019t get the speed and acceleration you expect from a supercar. You\u2019ll have wasted all that money and effort.<\/p>\n

It\u2019s the same with cloud computing. For businesses wanting to perform complex tasks in the cloud or use cutting-edge AI technologies, cloud infrastructure optimisation is critical. Without the right cloud foundations, these innovations won\u2019t deliver their full potential and could end up being costly.<\/p>\n

Tools like automation, consistent monitoring, and regular testing within Continuous Integration and Continuous Delivery (CI\/CD) pipelines are essential cloud optimisation steps for speeding up deployment times and creating more reliable systems.<\/p>\n

Maximising the unique functionality of the cloud to simplify repeatable tasks across an organisation can also make a huge difference. By establishing digital platforms with paved roads<\/a>\u2014standardised processes that ensure consistent deployment and development across teams\u2014organisations can further improve cloud value, accelerate time to market, and reduce costs.<\/p>\n

Governance and security regulations can also be implemented within these paved roads, helping organisations maintain compliance and security best practices and limit the blast radius of security incidents.\u00a0 In contrast to bespoke on-prem systems, where incidents could have catastrophic consequences, the cloud makes it easier to separate and contain services, reducing the overall impact on business operations, costs and reputational damage.<\/p>\n

Cloud computing for finance and superannuation<\/h2>\n

Within the highly regulated and increasingly competitive landscapes of finance and superannuation,\u00a0 an optimised cloud enables faster innovation, better compliance and improved service reliability.<\/p>\n

For example, Spirit Super\u2019s move to the cloud<\/a> enabled it to grow and scale its platform with the business while remaining adaptable to regulatory changes. By optimising its cloud processes from the outset, we helped Spirit Super increase its team capacity for new initiatives from 5% to 66%, eliminate downtime and create reliable cloud-native services in just three months. It\u2019s provided the catalyst for Spirit Super\u2019s cloud platform development and is enabling it to deliver greater value for its members.<\/p>\n

Discover more cloud optimisation strategies at the ASFA Conference<\/h2>\n

Cloud has endless transformation potential but to fully unlock its business value, organisations need a clear strategy for optimisation – whether that means reducing cloud costs, focusing on security and compliance or speeding up product development.<\/p>\n

For superannuation funds looking to differentiate themselves in a highly competitive market through new innovation and technology, optimising the cloud is vital step on this journey.<\/p>\n

Interested in finding out how to optimise and scale your cloud capabilities? Contact us<\/a> today or join us at the ASFA Conference in Sydney <\/a>from November 19-21, 2024, where we\u2019ll be demoing our AI-enabled superannuation complaints management concept and exploring cloud optimisation approaches.<\/p>\n","protected":false},"excerpt":{"rendered":"

Cloud computing is transforming how Australia\u2019s businesses operate, offering greater flexibility, scalability and cost-effectiveness compared to on-premise systems. With 70% of businesses using cloud platforms to accelerate their business initiatives,\u00a0 Gartner is predicting that public cloud spending will reach A$23.2bn in Australia this year, up 19.3% from 2023. Cloud isn\u2019t just another IT tool – […]<\/p>\n","protected":false},"author":169,"featured_media":19728,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","inline_featured_image":false,"footnotes":""},"categories":[5],"tags":[409,432,290,582,411,584,402],"location":[],"class_list":["post-19726","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-our-thinking","tag-asfa","tag-australia","tag-cloud","tag-cloud-capabilities","tag-digital-transformation","tag-super-fund","tag-superannuation"],"acf":[],"yoast_head":"\nCloud optimisation for superannuation funds | Equal Experts<\/title>\n<meta name=\"description\" content=\"Why optimising your cloud infrastructure is vital to reduce costs, enhance security, and accelerate innovation in superannuation and finance.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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