PhD Graduate and result-oriented Director with 25 years experience with involvement in all levels of Business Strategy, Sales and Marketing, Managing Project and Product Development. Aside of managing a company, he is also the best corporate trainer and public speaker in seminar and conference.
Reimagining Digital Transformation with Industry Clouds
Companies would probably be resistant to digital transformation if it weren't for the business competition that is getting more competitive everyday. We almost feel compelled to come up with fresh ideas for how to increase our ROI because we have to keep up with the competition. As a result, we search for innovation everywhere we go.
The pursuit of digital transformation is one of the biggest challenges that businesses face today. Digital transformation is complex, but that doesn't make it impossible. Utilizing industry clouds will help businesses transform strategically and stay ahead of the competition.
Understanding the Adoption of Industry Clouds
According to Google, digital transformation involves the creation or modification of business practices, culture, and customer experiences in order to adapt to shifting business and market dynamics. This includes using all forms of public, private, and hybrid cloud platforms. A company’s operations are fundamentally changed by digital transformation, which also maximizes internal resources and provides value to customers.
The foundation for becoming more flexible, collaborative, and customer-focused is provided by cloud technologies. Companies of all sizes can now innovate and modernize gradually with industry clouds, resulting in a more agile and sustainable modernization. Cloud-enabled business solutions also assist companies in standardizing the key modernization features of their competitors. Using this comparison, they can concentrate on the capabilities that set their business apart from the competition. In addition, instead of risky and expensively replacing current legacy systems, companies can concentrate on digital modernization in small steps.
Another key factor why adopting industry clouds in companies is that companies that successfully adopt the cloud scale more quickly, innovate more easily, and bring new capabilities to market faster—all while lowering technology risk. Industry clouds make it possible to stay competitive without having to start from scratch with a digital revolution. It continues to emerge and evolve within every industry. Businesses are now embracing a more flexible working style while enabling the most recent digital capabilities.
How Industry Clouds Is an Enabler of Digital Transformation
1. Flexibility
Companies will need to pivot their business process several times to implement a digital transformation strategy effectively. By providing the necessary computing resources, infrastructure, and platforms instantly, industry clouds free companies from the hassle of investing in a variety of IT resources and enables them to be agile and flexible.
2. Cost-effective
Industry clouds offers a scalable service model where companies only pay for the resources used, along with the flexibility to modify requirements. Thus, it not only reduces the capital expense of purchasing and managing IT infrastructure, but it also enables companies to efficiently scale their resources in accordance with needs.
3. Security
If your database is stored in-house then you constantly face the risk of losing critical information due to data breaches, unexpected system shutdown, disasters, brute force attacks etc. In case of cloud hosting, you can easily create multiple backups of your data. This is especially beneficial when dealing with big data as the chances of system failures significantly increase in case of the big data analysis.
4. Rapid Prototyping
If companies’ database is kept internally, they’re constantly at risk of losing important data due to hacks, unplanned system shutdowns, disasters, brute force attacks, etc. However, they can easily create multiple backups of data when using industry clouds. This is especially helpful when working with big data because big data analysis significantly increases the likelihood of system failures.
5. Better Collaboration
Companies need to continuously innovate, test, implement, and repeat for digital transformation to be successful. Without having to set up complicated infrastructure, the cloud can offer companies a platform where they can easily build, test, and deploy applications. Therefore, they can experiment with various applications on various platforms throughout the transformation phase.
Steps to be Taken in Adopting Industry Clouds for Accelerating Digital Transformation
Consider the following as your business uses an industry cloud to accelerate digital transformation.
1. Decide on your digital strategy and identify your points of differentiation
To deliver core systems more successfully, recognize the differentiators in your digital strategy and embrace industry cloud wherever your company lacks differentiation. To increase value, layer special points of differentiation. When doing so, consider how current business processes operate and how they might change as a result of digitization. At the sector level, look for specialized solutions.
2. Understand the business’s vision and shifting contexts
Market, technology, cultural risks and opportunities should be sensed to keep an eye on what is still differentiating and what has become commoditized. Recognize the risk if your industry transformation strategy exposes you to a different company or sector. Bring in cyber leaders to create early-stage strategies to reduce risk and enable client interactions that foster trust.
3. Adopt an engineering perspective and utilize a partnership model
Business and IT leaders should foster an engineering culture by forming agile, creative, and product-focused vertical engineering pod teams. Even if it necessitates looking outside of your organization to cocreate and investigate new business models, consider the best strategy for developing adaptive solutions. Establish common objectives and benchmarks for internal and external business and technological operations.
In conclusion, industry clouds give digital transformation an extra dimension, following the adoption of digital technology to a full-fledged rebuilding of processes, tools, and experiences in a virtual environment that is accessible from anywhere.
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