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Hyland Software 2023 Predictions: Spend, Security and Scalability

vmblog-predictions-2023 

Industry executives and experts share their predictions for 2023.  Read them in this 15th annual VMblog.com series exclusive.

2023 Cloud Predictions: Spend, Security and Scalability

By Will Milewski, SVP, Cloud Infrastructure and Operations, Hyland Software

Even though cloud remains king in the IT world as many organizations prioritize cloud spend in 2023 budgets, both cloud providers and end users will feel the squeeze brought on by the impending recession. From more bad actors turning to ransomware for a quick buck to the need for efficiency and consolidation, the underlying economic uncertainty will impact the cloud far more than just IT spend.

Security will take top billing

As more companies migrate their capabilities to the cloud, these new cloud-native ecosystems will require organizations to be exhaustive and thorough in boosting their cloud security measures. Across the board, organizations will increase investment in security assets, the implementation of bolstered security benches with DevSecOps engineers and more businesses coding security rather than adopting it.

With the widespread ransomware attacks that we saw in 2022, we'll see a reimagined culture of security with an emphasis on the customer and employee relationship. Customers are more aware of security than ever and place a tremendous amount of trust in the businesses they work with to manage their confidential data and insights. Security efforts will make or break who is on the winning end of cloud deals going forward.

Cloud-native workloads will boost efficiency

While cloud-native workloads enable organizations to manage data and other workflows more efficiently in a centralized location, they have a large impact on long-term cardinality. Cardinality refers to the different possible time series certain metrics possess, and because cloud-native capabilities tend to have numerous short-lived containers, they add to the life cycle of current workloads. Essentially, this means cloud-native capabilities could pose a potential slow-down when introduced to longer-lived time series. In 2023, companies will have to incorporate more strategic planning to accommodate these workloads and ultimately utilize cloud-native technology to their advantage without being bottlenecked by old capabilities.

For organizations looking to ease access to resources and reduce costs for data management, cloud-native solutions are a natural choice. For example, the payments processing industry has seen a recent shift due to the need for agility and the ability to control payment ventures. Legacy industries such as banking and finance have always been slow to adopt new technologies, but as we enter this new era of digital transformation, cloud platforms are essential to the success of any financial institution. In 2023 we will continue to see this flourish as more and more niche fintech companies pop up and more customers take their banking digital. Those institutions that go into the new year with cloud-focused ambitions will leapfrog banks stuck in their old infrastructure and capture a new age of customers. To scale globally, it's essential for these legacy industries to adopt cloud solutions to retain their current customers and attract new customers.

Providers will fight for cloud spend

Even with growth in cloud spend, providers will still experience the impact of inflation from an operations standpoint. This means every new deal counts and greater competition calls for going above and beyond to close. It's critical that cloud providers pay attention to their customer's priorities.

Sustainability, as it relates to data storage, will continue to be top of mind for businesses when choosing what platforms to work with. We will continue to see the big players like AWS and Microsoft roll out new sustainability initiatives to combat environmental concerns, which several organizations will follow. Whether that's implementing their own initiatives or adopting sustainable technologies from Big Tech, a big priority for 2023 will be focused on being green. Optimizing a cloud migration strategy will ensure that energy expenditure is under control, in turn wasting fewer resources and reducing organizations' technological carbon footprint.

Being the best in class is no longer good enough to sway decision-makers. Yes, cloud and IT spend is anticipated to fare better than most budgets. However, solution providers can't afford to relax or will risk falling behind their competitors. In 2023 every detail, no matter how small, counts and it's in providers' best interest to make sure they know where their customers' priorities lie.

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ABOUT THE AUTHOR

Will Milewski 

Will Milewski is the Senior Vice President, Cloud Platform Engineering at Hyland. With more than 13 years of experience in cloud computing operations, Will oversees cloud services and infrastructure teams to ensure the cohesive integration of its cloud strategy, close collaboration with Hyland’s executive team and alignment with the highest priority corporate and product initiatives.

Published Thursday, October 27, 2022 7:32 AM by David Marshall
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