New business models and unconventional possibilities are emerging thanks to the rapidly growing variety of industry cloud-based platforms. A great deal of investment is being made in industry cloud platforms to enable digitization and availability of actual business processes that are specific to each industry. Businesses must use the right cloud model for growth because, according to Deloitte, businesses that use cloud technology to overcome their growth challenges grow 26% faster and deliver 21% higher gross profits.[1] Industry cloud platforms are designed to provide comprehensive and integrated solutions to the challenges that businesses face in various industries. In this blog post, we will be showcasing 3 common vertical challenges that industry cloud platforms address.
-
It will enable a faster path to value
The adoption of industry cloud platforms is enabling businesses to spend less time setting up the cost-of-entry functionality they need to run their businesses. Many core business processes and operations within enterprises are often similar to those of their competitors. To set themselves apart from their competitors, businesses will be enabled to focus on aspects of their operations that are unique to their market.
-
It will provide a platform-centric approach
As opposed to traditional cloud solutions which only cater to a single business function area, industry cloud platforms enable customers and ecosystem players to use common business processes, data models, and capabilities. According to Statista, 86% of enterprises experience challenges in managing data in multi-cloud environments.[2] Industry cloud platforms will provide a platform-centric approach that provides best practices and proven patterns that have worked not just in one organization but in others as well. This platform-centric approach enables customers to quickly build and deploy applications without the need to learn a new technology stack or integrate multiple existing solutions.
-
It will enable openness and standardization
By having a platform that is more open and standardized, industry cloud platforms can be more easily and quickly adopted, allowing businesses to take advantage of the latest technology and services much faster from a cross-industry perspective. Industry cloud platforms tend to emphasize openness and standardization. This allows businesses to implement solutions and customizations with minimal dependence on traditional developers and technical teams. By enabling openness and standardization, these platforms are making it easier to make informed decisions and share data and insights across multiple systems. These open standards reduce risk and increase interoperability. Off-the-shelf workflows and integration tools give customers more flexibility, reduce vendor lock-ins, and provide more opportunities. Companies can pursue sustainable innovation by relying on a dynamic global value network.
Overall industry cloud platforms are revolutionizing the way organizations operate, enabling them to access data and insights securely and efficiently. Gartner expects that by 2027, enterprises will use industry cloud platforms to accelerate more than 50% of their critical business initiatives.[3] To gain deeper insight into business processes, improve data experiences, and meet compliance, security, and reliability requirements, businesses are adopting industry cloud platforms.
No comments:
Post a Comment