3. Prepare the infrastructure—ditch the public Internet
Once you’ve determined that the cloud is right for your credit union, it’s important to look at your network infrastructure.
Networks at financial institutions with multiple branches are often a hodgepodge of carriers and equipment that were built over a period of years. Many times they were based more on expediency than an enterprise-level plan.
With cloud computing, an inadequate infrastructure can quickly become overwhelmed by the sudden uptick in voice, video, and data traffic. When that occurs, you’ll become frustrated and will experience a level of service from your cloud-based applications that doesn’t meet your expectations.
But there’s more to it than bumping up bandwidth. Using the public Internet as the basis for your cloud is leaving a lot to chance. Despite improvements in recent years, it’s still not reliable enough, in large part because no one is actually managing it end-to-end.
All it takes is one failure somewhere along a very long chain to bring your business to a crashing halt.
A fully managed, multiprotocol label switching (MPLS) network provides a better alternative for both reliability and network performance.
When configured correctly, an MPLS network will have multiple connections and redundancies built in. If the primary carrier’s network goes down for any reason, it will automatically switch over to another that is still operating, providing the high-level business continuity and disaster recovery that many financial institutions still lack today.
Moving to an MPLS doesn’t necessarily mean replacing all of your old carriers right away. But it does mean layering in tools to help you manage them more efficiently.
4. Prioritize network traffic
With the Internet, all traffic looks the same. That means if client loan documents and other paperwork arrive at the same time as last night’s highlights from ESPN, the latter may win out.
A fully managed MPLS network provides one quality of service and routing capability over the entire network. It allows you to prioritize traffic by business case rather than simply on the type of traffic (video, voice, data, etc.) to ensure business-related data always goes ahead of nonbusiness data.
It also provides the ability to accommodate changes in enterprise use, expanding at peak times and contracting at lower times so you’re paying for what you actually use rather than having to over-provision to handle the highest volume.
5. Controlled migration or rip-and-replace?
Once the infrastructure is in place, it’s time to start moving applications to the cloud. One of the prevailing myths is that this is an all-or-nothing proposition.
In reality, migration to the cloud is a complex proposition, so performing a complete rip-and-replace is a bad business decision fraught with risk.
A better approach is to start with smaller, lower-risk environments such as a branch office, and implement less complex applications such as a cloud-based communications platform.
Typically you won’t be housing the software at a branch, so it provides an ideal “lab” with which to work. You can work slowly, test the procedures, refine them, and ensure that they are fully integrated into your business processes.
From there, you can migrate as business needs dictate.
The financial industry is highly competitive, so you can be sure if you’re not looking at cloud solutions and how to speed adoption of the latest technologies, your competitors are.
But there’s no need to go it alone. The right partner, particularly one that offers an MPLS network, can help you migrate to the cloud intelligently and successfully, allowing you to achieve the operational excellence you demand while delivering superior customer service.
Not only does absenteeism affect your bottom line, it increases everyone’s workload.