Posted On - 08-05-2019 admin Accounting
One of the most prominent, reliable, and fastest-evolving technologies in today’s context, cloud computing has taken the world by storm. Cloud technology, which came into existence as an alternative to the traditional methods of data storage, has taken a quantum leap forward lately, becoming a major enabler of digital business transformation. In fact, this revolutionary technology has laid the foundation for a flexible innovation infrastructure for growth and success strategies of modern organizations.
Placing a spotlight on the importance and impact of cloud on the global business landscape, it provides anywhere, anytime access to core operation applications, team collaboration, and analytics tools. By moving their operations to the cloud, organizations get the freedom, flexibility, and agility to scale their business model as and when required to explore the unprecedented opportunities available in the markets.
As a matter of fact, cloud technology is witnessing a unique growth spurt of its own. Different set of smart, innovative, and intelligent solutions like artificial intelligence, machine learning, and IoT (Internet of Things) are growing by leaps and bounds with the upsurge of this omnipresent technology. Coupled with digital business solutions and intelligent technologies, the cloud-based services are empowering modern businesses to gain competitive advantage and stay in line with the global competition.
Here are 3 major trends that are redefining the next phase of cloud services as an innovation driver for businesses across the globe:
Cloud computing has come a long way from being just a medium for virtual data storage to a fully functional platform for business operations. There is absolutely no denying that organizations across the globe have realized the potential of cloud technology, and are looking for ways to adapt and implement it in their day-to-day operations.
While the scope and growth depend on various factors, the key growth driver remains the same for organizations across various industries and sectors: the need for digital transformation. By moving to a more prominent and more flexible cloud platform, modern entities not only get umpteen ways to focus on their core competencies but also, jet-off towards a better future.
Taking the customer experience to a whole new level is the next frontier of cloud technology. Businesses have already started to alter the way they operate by implementing new and innovative technologies coupled with the cloud to upgrade their customer’s experience management. As more and more B2B and B2C companies are trying to uplift the quality and customer satisfaction, experience management has a major role to play in improving brand perception and customer satisfaction.
For instance, cloud technology has enabled businesses to access, collect, store, and process large volumes of data, and use the same to create and execute algorithms at a large scale. By analyzing different sets of operational and customer data, businesses are able to create new products and/or services along with creating breakthrough customer experiences and outcomes.
Innovation is important. Innovation is perpetual. Innovation is challenging. One of the biggest difficulties for modern businesses is meeting the growing demands of innovation. Evidently, it is a continuous endeavor, and for modern businesses, it is more than just a mere necessity to measure the level of innovation. Fortunately, though, digital transformation is easily measurable, and it can be done at every single step. ‘Speed and time-taken’, in this context, are two of the major key performance indicators for digital business transformation.
The next frontier of cloud technology is witnessing the abrupt growth of digital service providers that not only provide maintenance and support but provide complete solutions to client companies to accelerate and attain their digital transformation goals. Organizations are adopting circular innovation mechanisms, an innovation ecosystem, which grants the required resources and tools powered by the cloud for continuous innovation.
In this rapidly evolving world, it is extremely important for businesses get ready for the future and transform into a smart and intelligent workforce that can thrive on change. And stepping up to the demand and remaining one step ahead of the others is an important attribute of an innovative venture. Those who can assess and adapt to the next generation of cloud technology will surely be champions.