Enterprise Platforms Must Haves for 2021 and Beyond: CloudBy Kamran Khalid, Head of Business Analysis Group & Head of PreSales at NETSOL Technologies Inc. on 11-11-2020
Cloud computing is simply the delivery of computing services over the Internet, also regarded as "the cloud". It entails use of servers, storage, databases, networking, software, analytics, and intelligence. This technology when put together helps enterprises to innovate faster, keep resources flexible and attain lower average cost of production i.e. economies of scale.
As businesses across every industry are busy adapting to the "new normal", cloud ready solutions too are playing a key role in addressing immediate enterprise needs and are laying foundations of a robust future in terms of business operability. Businesses that were previously reliant on on-premise solutions/platforms have now realized the need to be more agile and receptive to real-time business, technical, and environmental needs. Studies (IDC, 2020) suggest that around 54% of enterprises expect the demand for cloud based platforms to increase. This is because global organizations now look for solutions that promote efficiency, operational agility, cost effectiveness, risk mitigation, and require immediate insights from their enterprise platform.
With cloud based technologies now rooted deep into enterprises' business transformation strategies, studies (Forbes, 2020) highlight that 92% of business entities in the survey operate on an IT eco-system (infrastructure, applications, data analytics, etc.) which relies on the cloud. This is expected to soar up to 95% in the next 18 months. Security and privacy concerns dictate that enterprises operating in Financial Services, Government/Non-Profit and Manufacturing sectors are the most likely to adopt only a single enterprise cloud platform.
We now look into 5 key attributes of cloud technology which makes it a catalyst of change for enterprises that are looking to adopt an effective transformation strategy entailing a cloud ready enterprise platform.
1) Pooled Resources: Multitenancy
Multi-tenancy enables an enterprise platform to share infrastructure across multiple tenants which leads to significant savings compared to dedicated hardware for each end customer. Moreover, in a multi-tenant environment, rolling out new features and updates can be done simultaneously for the entire infrastructure including all business partners. Learn more about benefits of Multitenancy (article will be linked).
2) Accessibility to Data: Adaptive Platform
End user can easily access the data which is hosted on the cloud and at the same time upload data to the cloud database. What makes it special is that it can be done from any geographical location as all it would take is a device and access to an internet connection. These feature can be made available all over the network and accessed with the help of the cloud.
3) Smarter Enterprise Platforms: Transparency
Cloud computing supports spontaneous and real-time analysis of the data and enable metering capability at different level of services. Users can fetch data, monitor changes, control data flow, and report the usage at any time. This eventually provides greater transparency and reliability for the host as well as the end user.
4) Ensured Data Security
Cloud security is one of the key attributes that has made cloud based enterprise platforms desirable for CIOs around the globe. It enables the platform to take a snapshot of the data stored with a time stamp so that the information may never get lost even if there is any damage to the system servers. Once the data is stored on the storage devices, it cannot be accessible to any person unless the system is programmed to permit users to do so. Cloud based platforms can quickly save and fetch data which makes it reliable, safe and convenient.
5) Pay as You Scale
Enterprise platform providers which have cloud ready solutions can allow the users to pay only for the services or the space they have utilized over a fixed term. There are usually no other hidden or extra charges which might have to be paid by the clients. This makes the platform economically viable for CIOs to consider.
With key attributes of cloud based enterprise platform highlighted, it is worth mentioning that mostly bigger organizations have successfully implemented a cloud-first strategy for new systems or they have invested in specific software-as-a-service (SaaS) solution. Management teams of many other companies are still struggling to reap full benefits of moving a large chunk of their enterprise systems to the cloud.
Hence, our aim to guide key decision makers of organizations to pave the way for a seamlessly cloud transformation at an enterprise level.
If you are interested in finding out how NETSOL Technologies can enable cost efficiency, increase operational effectiveness and transparency for your business through cloud ready solutions, get in touch with us here.
This is the third article of the series highlighting Enterprise Platform - Must Haves for 2021 and Beyond.
Kamran Khalid, Head of Business Analysis Group & Head of PreSales at NETSOL Technologies Inc.
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