Today, it is basically the era of digital transformation. There is fairly a big shift in customer experience, expectation, and perception. Because the traditional customer was closer to physical interaction with a Non-banking Financial Company (NBFC) or an enterprise bank. But today with evolution in lot many areas where a customer can interact with you in this digital world, digital experience takes a font seat today, says Muneebuddin Mohammed, Vice President, Cloud4C services during 7th NBFC100 Tech Summit in Chennai.
The Organisations and NBFCs are investing a lot in technologies to create an extraordinary digital experience for its customers. Whether it is into consolidation or investing in new digital experiences the companies are investing and focussing on improving customer experience and interaction. This is where at the end, digital and cloud both work for hand in hand. Unencumbered by the burdens and limitations of legacy solutions, the unique capabilities of the cloud provide enormous cost savings and data management functionality that was never before possible. Adoption of cloud seems very critical amongst such humongous spending on such things to make organisations digital-ready.
Building onto a successful cloud strategy
Now, the moment you say cloud, it’s actually there specifically. Numbers of flavors are associated with clouds. Whether a private or a public cloud, the bottom line is that you don’t know which one is suitable for you. And that is the biggest challenge I see being faced by NBFCs and other such organisations. Because at the end of the day they need agility.
Talking about it he said; The organisations need to take their products faster to the market and for that, the cloud needs to be adopted. Secondly, once you avail a cloud platform, you have to see which one is apt for you. After having hosted the application on that cloud, which is going to manage it, is the next thing to be pondered upon. Whether one has to build those skill sets in the house or are their existing providers who can manage the cloud? The third thing is the security of the cloud because the moment you talk about digital data, security takes the front seat over there because you have to secure your data and cloud. So, who will be responsible for taking care of the security of the cloud?
Now, amidst so many flavors of cloud how does one ensure that chosen one is apt and that the company’s C-suite officers get excited with the proposition of his cloud? So what is the right pricing model and what are the plans that we need to choose in the cloud, along with compliance and regulation as at the end they need to be taken care of. To make full use of the Cloud computing arena, one needs to have a strong strategy in place. One that works for the business as a whole, and also one that works for the employees.
Disaster Recovery, Backup, Scalability, Resilience, High Availability and other capabilities of the Cloud have helped create an interesting solution set for Organisations to choose from. The power of the cloud lies in its versatility and flexibility. With the onset of more resources available to the average user on-demand at their doorstep and without locking up its CapEx, Cloud computing is capable of delivering more content faster, and to more devices. There are many ways to utilise the cloud and each can have its own considerations and best practices. Aligning those best practices with your business goals is the key strategy that should be followed.