As organizations have adapted to the new normal of increased remote workforces, cloud and digital transformation journeys have accelerated over the past year. With it, cost reduction initiatives have been put in the limelight and increased in importance.
According to research from Deloitte, cost reduction initiatives have increased 74% since pre-COVID, with two of three (66%) organizations globally currently pursuing cost reduction strategies. To achieve cost reduction, it has been a common assumption that migration to the cloud translates to reduced costs, when in fact that’s not always the case. Without the right evaluation process in place, the true costs of cloud computing can add up fast.