When your team decides to move cloud-native for the short term, it seems like more upfront work and slower migration to the cloud. This is a bit costly, but it pays off in the long term when you start using all the cloud benefits with the agile team to innovate.
You will see a drastic decrease in cost over time with the cloud-native approach as you can optimize your workload for the right price while keeping performance intact with the pay as you go model. Cloud-native includes containerizing your application by rearchitecting as a microservice or opting for a purely serverless approach.
For your business needs, you may want to replace the entire product with a ready-to-use SaaS offering, for example, replacing on-premise Sales and HR solutions with Salesforce and Workday SaaS offerings. Let's learn more about the refactor and repurchase methods for the cloud-native migration approach.