Global Financial Services Company​

Challenge

Our customer is a global financial services company that provides global and digitally-enabled financial services, from equities, pensions and superannuation to investments. They had embarked on a cloud journey to resolve a scalability challenge, improve their technology delivery speed in a cost-effective manner, and enhance end-customer perception. With increasing Azure cloud consumption costs, the company executives had called the cost-effectiveness of the cloud into question. While their partners positioned a savings report, a disconnect between the report’s findings and native Azure reporting tools meant genuine cost-saving opportunities remained unsubstantiated and an execution pathway undefined.

DigiRen were initially engaged to investigate the discrepancy and provide proposed remediation while also providing insights as to how the company could enhance its cloud operating model.  After successfully responding to this challenge, DigiRen was then engaged to review and refresh the company’s Cloud Strategy to align with Industry best practice, and to help design and implement new cloud governance practices

Approach

The company engaged DigiRen to provide expert insights into the way Cloud is offered to consumers, identify realistic cost savings opportunities within the APAC Azure tenant and define an integrated implementation roadmap.

DigiRen integrated a pod of three highly experienced leaders into the roles of Delivery Lead, Operating Model SME and FinOps Specialist and:

• Collaborated with 16 stakeholders across Australia and the UK to assess Cloud delivery practice using the DigiRen COM blueprint and design a fit-for-purpose future state Cloud Operating Model.
• Investigated 10 Azure (AU) subscriptions to identify cost-savings opportunities, apply vendor-prescribed rules to eliminate savings overlaps, and define tactical and strategic initiatives to realise savings.
• Engaged two partners within Global financial services company’s ecosystem to assess pre-existing recommendations and performed a comparative analysis to show case realistic savings for the group.

DigiRen then continued to support the company by:

• Updating the draft Cloud Strategy, addressing audit findings and obtaining BU acceptance.​
• Enhancing current Azure cost reporting dashboards and improving confidence.
• Improving the current CLF (“Cloud Office”), ensuring CM and RSS representation.​

Outcomes

Supported by strong executive sponsorship and stakeholder engagement, DigiRen delivered the COM & FinOps project over four weeks, showcasing:

• $2m+ of potential Cloud cost-savings in total, with ~$1m of potential savings within the first 6 months.
• 5 key findings positioned with and endorsed by executives.
• 26 new cost-saving initiatives identified.
• 5 new capabilities recommended to deliver Cloud Ops, governance excellence, and improved Cloud consumer experiences.

A fit-for-purpose Cloud Strategy was developed that is “living, actionable and measurable”​. It included the Case for Change, Strategic Principles, Next Steps and Strategic Delivery Requirements.

It consisted of two parts:

• Cloud Strategy: A concise, compelling and actionable document that anchors all future Cloud decisions.
• Cloud Playbook: The organisation’s “Cloud Bible”, hosting a centralised repository for all critical cloud information and processes.

Four cost Governance dashboards were created to address 6 key company requirements. These were published to the wider organisation.

An onboarding journey map and checklist was defined to ensure workloads are onboarded securely, consistently, and with all required guard rails and quantified risk levels to ensure compliance with the groups relevant governance policies.

A Cloud Leadership Forum was proposed and agreed. The Cloud Leadership Forum (CLF) is critical to provide oversight and direction for the company’s Cloud Strategy and Operating Model. DigiRen will support the company as they conduct their inaugural CLF in April 2024.