Starter for 10: Meet Max Guhl, Nordcloud’s Global FinOps Advisory Lead
FinOps is a continuous process that needs to be established and optimised.
Gartner defines bimodal as the practice of managing two separate, coherent modes of IT delivery, Mode 1 focused on stability and Mode 2 on agility. Mode 1 is sequential, emphasising predictability and accuracy when problems are well understood. Whereas Mode 2, is more agile, exploratory, aimed at solving new problems, drive business and deliver results.
With digital transformation, IT delivery is not just about software and applications but also about business needs, customisations, scalability and efficiency. Bimodal IT helps in the adoption of new technology while keeping the space for traditional development open. According to Gartner survey 2016, 40% of CIO´s are on the bimodal journey, with the majority of the remainder planning to follow in the next three years.
Insurance companies are in great need for agility and speedier time to market because of evolving customer demands, rise of FinTechs and regulatory requirements. According to Insurance Hub, the fundamental question is: How to reduce the complexity of a legacy IT landscape whilst promoting the development of new and innovative products and processes?
In this context, Bimodal IT is the most promising approach. Some benefits of Bimodal approach are:
According to Digitalist Magazine, IT’s highest priority has been for decades to enhance control over the business systems of record – but this is not enough any more. Organizations must grow incrementally and exponentially – sometimes taking quantum leaps to get ahead of the market.
For that reason, business leaders must shift from a traditional IT strategy to a bimodal IT approach that differentiates the business. Mode 1 systems helps guide and steer the business but mode 2 to catalyzes innovation by leveraging new sources of data, leading-edge technologies such as AI and machine learning, and massive compute power and storage functionality at scale.
With a bimodal IT strategy, CIOs can capture data from IoT sensors, drones, devices, and new sources to come. Using powerful in-memory compute technology and a modern, data-based infrastructure, we can rapidly process that data and share it with mode 1 systems to create a more complete view of the business, its opportunities, and potential disruptors.
There is no need to replace the technology that is working, however. Most companies will be able to retain their existing mode 1 systems. Teams can stand up new mode 2 systems and develop integrations between mode 1 and 2, allowing them to connect these systems to new sources of data.
We are ranked globally #2 by Gartner capability assessment in Mode 2 use cases such as supporting agile applications and cloud native transformation. We can help you move away from legacy applications and update your workflow with modern, cloud-based applications that are tailored to solve your most challenging problems. Benefit from scalability, and easier and more flexible management.
Let’s discuss how we can help with your cloud journey. Our experts are standing by to talk about your migration, modernisation, development and skills challenges.