Inside Broadridge’s Cloud Cost Optimization Journey: How We are Unlocking Maximum Potential
A Gartner report suggests that Enterprise IT spending on public cloud computing, within addressable market segments, will overtake spending on traditional IT by 2025.
At Broadridge, where innovation is at the forefront of all efforts, moving our workload to Cloud was only a natural progression to transforming and modernizing our business operations. In late 2017 – early 2018, we initiated a pan-organization Cloud Transition Program. Over four years, around 220 apps and app teams consumed cloud services. As our footprint on the public cloud increased, so did our expenses. From the initial set of 25 accounts in 2018, Broadridge AWS Cloud grew to over 500+ accounts in 2023. In the fourth year of this journey, the monthly billing ticket was significant, warranting an urgent action plan to reduce recurring spend on our cloud program.
It became imperative for us to leverage the full potential of cloud technology while curtailing spends on unused resources. With this goal in mind, we launched our Cloud Cost Optimization initiative with a cross functional SWAT team. This team started by working with application teams to analyse each application; they successfully identified, assessed, reported, and executed actions to optimize use of cloud services.
The goal of this project was to save $2.5 million in 8 months. But we made significant progress by not just achieving the target but also surpassing it. By the end of June 2023, the gross savings was approximately $8 Million.
With the SWAT goals met, Broadridge’s Cloud Cost Optimization journey, however, is emerging into an ongoing initiative – the mission is to identify opportunities to roll out effective/reusable solutions around cloud cost optimization.