What does rightsourcing have to do with credit union cloud strategies?

by. Robin Remines

Are you responsible for determining your credit union cloud strategies? Unless you’ve been hiding in the computer room (you know who you are!) , somewhere along the line you’re going to be  asked about your cloud strategies. It could be your CEO, a board member or someone from your technology committee but make no mistake – someone is going to want to know what you’re credit union’s plans are for the cloud. “Rightsourcing “, as a methodology provides a framework for making the right decisions. If you want to know how to apply this tool, this post is for you!

According to SearchCIO, “Rightsourcing” is selecting the best way to procure a service and deciding whether a company is best served by performing a business requirement in-house or contracting it out to a third-part service provider.   In other words, “Rightsourcing” literally means “choosing the correct source and that can mean internal OR external!

So what does that have to do with your credit union cloud strategy? Everything! Decisions to move to any new technology and especially cloud are based upon your assessment of the value that movement brings. For instance,  in cloud strategies you are often considering:

  • Potential Cost Savings
  • Operational efficiencies
  • Better alignment with strategic goals (you are a credit union, not an IT shop)
  • and let’s not forget scalability!
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