Cloud CoE adoption has increased from 69% in 2017 to 82% in 2021, demonstrating its role in value creation. However, to work successfully, CoE transformation must revolve around five key tenets. Credit: PeopleImages Even as cloud spend is set to grow at a CAGR of 16.9% and surpass $1.3 trillion by 2025, the transformation journey is riddled with challenges, such as security, governance, compliance, economics, and resourcing. A cloud center of excellence (CoE) in an enterprise can make a big difference in the return on cloud investments. Cloud CoE adoption has increased from 69% in 2017 to 82% in 2021, demonstrating its role in value creation. To work effectively, CoE transformation must rest on four key pillars — innovation, advocacy, scale, and governance — that can accelerate cloud adoption throughout an enterprise. But that’s just the tip of the iceberg. Besides technology expertise and contextual knowledge, every successful cloud CoE revolves around these five tenets: Being relevant: A cloud CoE must stay relevant by bringing a convergence between the long-term objectives (top-down) and immediate priorities (bottom-up), leading to a strong foundation that supports future strategy and mitigates risk and rework. Staying connected: A cloud CoE must seek representation and involvement from across the business to improve buy-in and compliance. Building a strong team: Various skills, ranging from cloud experts to business specialists, are required for the effective functioning of cloud CoE. Innovating continuously: A cloud CoE must invest time and resources to identify digital capabilities to innovate and build ecosystems of the future. Transforming culture: A cloud CoE must engage the security and risk groups within an organization to understand the hybrid landscape and ensure the identification and mitigation of risks. Learn more about cloud-driven business agility on Microsoft Cloud with this case study from TCS. Related content brandpost Bots and beyond: How the AI revolution is shifting the paradigm for customer experience in smart banking Financial institutions can improve customer experience and reduce churn with digital services developed on the Microsoft Cloud while staying compliant, maintaining security, and preventing fraud. By Tata Consultancy Services Apr 25, 2023 5 mins Financial Services Industry Digital Transformation Cloud Computing brandpost How TCS is helping to fight financial crime with AI and Microsoft Cloud Financial institutions are boosting cybersecurity protections with cloud-based artificial intelligence technologies that can help root out suspicious activity and prevent attacks before they lead to a loss. By Tata Consultancy Services Apr 17, 2023 4 mins Financial Services Industry Digital Transformation Cloud Computing brandpost Accelerating innovation with cloud-native apps on Microsoft Cloud Today’s banks and fintechs need an agile platform where they can quickly develop and scale innovative services while staying compliant, maintaining security, and preventing fraud. By Tata Consultancy Services Apr 11, 2023 6 mins Financial Services Industry Digital Transformation Cloud Computing brandpost Improving employee experience in the hybrid workplace with Microsoft 365 In the financial services sector, organizations must commit to upgrading their heterogenous technology environments, in-person-centric work policies, and related processes to unlock new levels of collaboration and innovation, while staying compliant, By Tata Consultancy Services Apr 04, 2023 7 mins Remote Work Financial Services Industry IT Leadership Podcasts Videos Resources Events SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe