In today's digitally-led business environment, the ability to access and analyse data quickly is critical to success.
Despite this, many New Zealand organisations still rely on legacy systems to store and manage their data. This is largely due to several real barriers and concerns associated with the process of data migration. The most common concerns and challenges we are hearing are budget restrictions and cost; time investment required; lack of clarity of where or what is critical information; security, risk, legal and compliance implications of cloud data storage; and ultimately, what technology is needed to enable migration.
However, despite these challenges posing genuine barriers to initiating, and successfully implementing a data migration plan, there are a growing number of factors that necessitate migrations.
"Data migration is not just a technical exercise, it is a strategic investment in a company's future growth. By unlocking the potential of data and harnessing its power, businesses can achieve greater efficiency, agility, and innovation, leading to increased revenue and competitive advantage." - Alistair Evans, Director, Digital Lighthouse
The common triggers we see for data migration to the cloud are:
Limitations of legacy systems
As organisations grow and evolve, their data management needs change. Legacy systems may no longer be able to keep up with the company's expanding data volumes and complexities, resulting in decreased ability to report on performance and drift in their reliability.
Complying with regulations
New regulatory requirements are constantly being introduced, which puts pressure on companies to ensure that their data and storage platforms are secure and compliant. Planning a data migration will help you reduce the risk of significant financial and reputational damage due to non-compliance by helping you identify gaps.
Mergers and Acquisitions
When a company merges with or acquires another business, it often needs to integrate the acquired company's data into its own systems. However, this can be a complex and time-consuming process, particularly if the data is stored in outdated legacy systems. Failing to migrate this data to a more modern and scalable cloud-based platform can result in missed opportunities to realise your organisation's new potential, streamlining operations and reducing costs.
The value of data migration
- Improved data management by streamlining data management and governance processes.- Improved data quality and understanding by consolidating data from multiple sources enabling better insight generation practices.
- Improved decision-making with increased ability to implement data analytics by having fundamental metadata readily available for analysts.
- Minimised risk of data loss by implementing modern data practices on the cloud or upgrading hardware/software to provide advance protection against cyber threats and other issues.
- Improved sustainability of data practices by refreshing your data management in a new system or platform to safe-guard your most valuable asset.
The reality is a robust, secure, and successful data migration takes time and investment. When done in a thorough way, migrating your data is an opportunity to get clarity around business-critical questions, the reassurance you are operating in a compliant manor, and to create efficiencies in decision-making and reporting.
Our approach
Powered Data Migration is KPMG’s holistic approach to data migration, that actively addresses our client's common concerns and challenges. We operate with a business migration and cutover lens, rather than just a technical ‘Extract, Transfer, Load’ (ETL) perspective. The approach incorporates traditional ETL technical functionality, plus forensics analytics and KPMG’s business, risk, legal, and compliance expertise.
With a variety of engagement and service delivery options, we provide our clients with light touch, rapid migration delivery, through to multi-jurisdiction, multi-phase global migrations.
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Alistair Evans
Director - Digital
KPMG in New Zealand
