- Banking, Retail & Manufacturing are the prime industries witnessing Cloud-intensive boom.
- Cloud Computing services have simplified workflows, bringing more transparency and scalability.
- With strategic assessments and insights, cloud computing services provide a practical perspective to businesses helping them increase their operational efficiency.
This means, it will attain a compound annual growth rate (CAGR) of 12.6%
Historically, cloud solutions were designed with a horizontal approach. This means they serve a general purpose and not tailored to the requirements of the specific industry.
However, in recent years, we have witnessed a growing trend in vertical development, altering the traditional roles. This signifies that cloud solutions are now more advanced and can be customized to the needs of the particular industry.
Nevertheless, every industry has its unique technology dynamics and as we understand them, it helps us to better analyze the future of cloud.
At Keeran Networks, we propose cloud computing services that align with our client’s business needs. Most solutions are explicitly created proffering strategic IT advisory pertaining industry-specifics, competition and targeted market.
As cloud evolves, we bring you how cloud computing services are helping industries to grow -
Cloud Computing Services Disrupting the Banking Sector
Cloud adoption in the banking sector is majorly driven by two trends.
First, traditional banking institutions are backing the adoption of cloud for back-office and specific customer operations. Second, Fintech producing digital insurgents, regularly employing cloud-based services to compete in crucial banking products.
The trends helped in the rapid raising of the cloud in Banking. However, once you analyze banking products and new markets, you will find a more distinct picture of cloud coexisting and growing with non-cloud systems and existing legacy systems.
Additionally, the Banking sector needs to adhere to some of the stringent security and compliance requirements in comparison to other industries. Leveraging Cloud Computing Services in the Banking sector helps in –
- Enhancing the bank's agility: Helping them to reallocate resources away from the administration of IT infrastructure, working towards innovation and more swift delivery of products and services to the market.
- Risk Mitigation: Lowering risks associated with traditional technology by adding more scalability, improved Network assessment, advanced security including backup and disaster recovery solutions.
- Cost Reduction: Adding significant cost savings with reduced capital expenditure for IT infrastructure and more computing capacity during peak periods.
Transforming the Retail Industry
Cloud penetration in the retail business is an all-time high. One of the visible impacts with the cloud – retailing is now more consumer friendly.
Most importantly, cloud computing enabled the growth of new products and many new businesses emerged as a result. Additionally, it is increasing access and reducing the cost for the customer.
In fact, the cloud is now central to every e-commerce technology, revolutionizing long-standing, core business strategies. Here is, how cloud services transformed the retail sector over the years -
- Mobile-first mindset: Introduced a mobile-first mindset and helped retailers to focus on the more seamless mobile experience at both e-commerce (like more coupons & sales offer to their needs) and physical stores (giving free Wi-Fi access)
- Streamlining with Data Analytics: Utilized data analytics to make more real-time, number-based informed decisions. Cloud helps in analyzing trends and managing production with more streamlined operations.
- Better Inventory Management: Enabled retailers to efficiently manage their inventory with real-time tracking, store-orders, shipping details & much more.
Manufacturers – Evolving with Cloud Services
The manufacturing sector had a late start in the cloud world, however, it quickly adapted to the digital phase.
There are several unique features to this industry and how it leverages cloud computing. One being embedding cloud to physical functions, for instance, finding the right tools and equipment, ordering parts etc.
Moreover, the manufacturing industry is investing largely in the Internet of Things (IoT) and there is an extensive capital contribution to R&D and innovation.
In fact, cloud penetration is significantly impacting every step in the manufacturing process, making the industry the ultimate consumer of cloud resources.
Here is, why manufacturers are embracing cloud management services-
Organized System of Record: More streamlined system of record, help employees, suppliers and partners with more accurate information, consistency and better efficiency serving customers.
Decreases time-to-market: More straightforward approach makes implementation easier, freeing up internal resources - saving both time and money.
Predictive Analytics: Gaining actionable insights from data such as quality improvement, sales forecasts, preventive maintenance, help with creating new service to sell.
In the End
In today's super competitive environment, cloud computing services provide businesses with superior flexibility and speed to ensure operational success.
Apart it can provide the right resources to scale your business up globally, helping you meet the more immediate and long-term demands of your customers. Leveraging this will help you reduce costs and easier collaboration across different locations.
As a result, different industries are embracing it.
The KeeranONE IT support services cater to diverse industry requirements, offering complete assurance with safe and resilient infrastructure. Employing Microsoft's cloud platform, Azure for enhanced computing, storage, analytics and networking solutions, you can leverage our professional help to access your network files anywhere from the world without any security threat.