Lifestyle Singapore's workforce of the future needs a digital mindset and state-of-the-art cloud-based...

Singapore’s workforce of the future needs a digital mindset and state-of-the-art cloud-based solutions

CloudSpend's business intelligence insights enables businesses to visualize runaway expenditures and implement effective budget controls

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A 2019 Talent Acquisition study revealed that for Singaporean firms to survive in their pursuit towards digital transformation, they need to employ people based on the strength of their digital mindset.

“To build a workforce of the future, companies must target the candidates with the skills and competencies to achieve elite results. AI-enabled sourcing and candidate relationship management tools are key to doing this successfully. Talent acquisition professionals must deliver a candidate experience that is in sync with their customer-facing brand, and have the skills to use social media to engage passive job-seekers effectively,” Ishita Bandyopadhyay of Aon said.

Aon, a leading global professional services firm that provides a broad range of risk, retirement and health solutions, conducted the study and found that during the hiring processes, only 17% of Singapore organisations are appraising candidates for a digital mindset.

The study also indicated that while 59% of Singapore organisations say that they are confronted with many challenges when trying to attract quality talent, only 33% of them are using technology-enabled assessments covering personality, cognitive ability, and behaviours in seeking candidates with the right competencies.

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Further, only 18% of Singapore firms are at present utilising mobile-enabled appraisals, 14% using video-based assessments, and a small 5% use gamified evaluation methods.

The good news however is that these percentages are expected to significantly increase in the future, with a 31-point rise in organisations planning to take on mobile-based assessments (49%), 21-point increase for video-based appraisals (35%), and 22-point increase for gamified methods (27%).

Site24x7’s CloudSpend
Aside from talent acquisition concerns, Singaporean companies are also faced with manifold IT cost optimisation problems than can influence their talent acquisition processes. However, these firms have a solution in Site24x7’s CloudSpend.

The new solution is aimed at bridging the gap between capacity planning and cost optimization for resources running in Amazon Web Services (AWS) environment.

CloudSpend’s business intelligence (BI) insights enables businesses to visualize runaway expenditures and implement effective budget controls, while reducing operational expenditure (OpEx) across multiple accounts.

“With pay-as-you-go pricing models, public cloud platforms are strategic drivers for digital transformation. Since digital transformation is largely a process and not the end goal, businesses not only want to embark on their digital transformation journey but also want to optimise it to reap greater results,” said Srinivasa Raghavan, product manager of Site24x7.

“CloudSpend’s addition to our AI-driven monitoring capabilities not only streamline and enhance performance of their applications on AWS but maintain an equilibrium when it comes to cloud spending, thus creating a win-win situation for DevOps, and IT teams.”

Public cloud adoption
The use of public cloud has witnessed exponential growth in recent years. According to IDC, spending on public cloud services and infrastructure will reach S$210-billion this year, an increase of 23.8% over 2018.

The market is forecast to achieve a five-year compound annual growth rate (CAGR) of 22.5% with public cloud services spending reaching $370-billion in 2022. With public cloud being cost effective and easy to set up, businesses tend to leverage them to digitize their services and achieve their business goals faster.

This often leads to complexities that arise due to unmonitored, underused or idle cloud resources on various platforms in multiple accounts, resulting in overspend. To eliminate these undesired expenses, organizations need a solution that can help monitor and optimize their cloud costs without impacting their services.

Site24x7’s CloudSpend addresses these cost optimization issues with a holistic view of cloud expenditures across multiple accounts from a single console. CloudSpend also provides IT teams (IT financial planners & cloud service providers) BI insights for addressing cloud cost adjustments that achieve priority-based resource allocation, and thus helps in reducing overall OpEx.

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