BECU engaged West Monroe Partners based on a proven past relationship and the firm’s uncommon blend of knowledge of the credit union space, combined with its deep technical expertise. Specifically, West Monroe has a proven methodology for the disposition of applications to the cloud, along with a financial model to demonstrate financial impact that would result in a cloud migration strategy with business value.
“Why Not Cloud?”
West Monroe worked with the CIO, Vice President of Technology Operations, and their teams to create a cloud-first strategy, asking the question, “Why not cloud?” as a starting point for the development of a prioritized roadmap.
Working with business leaders across the organization, West Monroe ensured alignment of functional area goals with overall guiding principles of enhancing customer experience, and improving agility and operational efficiency, while keeping risk reduction and system availability top of mind.
Through this activity, eight strategic candidate applications were selected to be reviewed for potential migration to the cloud. Each application was put through a rigourous assessment process which included the selection of the best cloud platform; cost modeling to ensure the cloud option was aligned with cost expectations; and a 90+ question disposition review to determine priority and alignment with risk tolerance and business goals.
The final result is an actionable three year roadmap and a consolidated financial model that showed costs shifting between software, hardware and facilities. On average, the overall cost change was minimal, with the highest estimate only increasing costs by 1% for the applications moving to a cloud platform, a negligible amount when compared to the business benefits and long term cost predictability BECU will gain.