As 2016 is already here, leading strategists and research firms have started contemplating on the grounds of the analysis derived from the preceding year, giving businesses a microscopic view on growing cloud market, to help them gain a pragmatic view of headways for better decision-making. Operational excellence, best returns on investment and adding value proposition have progressively reached top-of-the-mind of companies, whether large or small. In this regard, cloud technology has been highly instrumental in connecting the dots. Notably, in numerous ways it has helped organizations across domains to achieve their preset strategic goals.
The year 2015 witnessed a rampant adoption of cloud computing, and its utilization surpassed well beyond the initial adoption phase. Moreover, the obstacles on the path of cloud computing adoption have also got slenderer. According to experts, for cloud service providers (CSPs) aiming to deliver analytics, Configure-Price-Quote (CPQ), and Customer Relationship Management (CRM) applications, this will be an exceptional year over those with a laidback attitude. It will be a great year for cloud and managed service providers, as they will help their elongated clientele to garner the best outcomes; efficiently launch and manage new offerings; and augment their revenue streams through upselling and cross-selling.
Let’s dig out some of the factors that will help you understand why 2016 will be a blessing for the service providers in terms of revenue:
Present Market Horoscope: To cope with the escalating business requirements, company’s core IT panels are always found to be emphasizing on the need of strategic decisions that can add value to their ongoing operations. Success can only be pronounced, if dedication towards critical business projects does not meet halfway. Here is the catch! For service providers, CRM, CPQ and analytics are ideal offerings, as most of the organizations (startup, online ventures, and enterprises) are engrossed in closing the deals to plunge into new markets, and thus, have lesser time to manage their IT allied tasks. This, in turn, highlights the viability of solution vendors (CRM, CPQ, and analytics) in the market, and suggests that demand will be higher in and beyond 2016.
Cloud Integration Prowess Bestows Greater Profit Margins: It goes without saying that the leading cloud technology is becoming mainstream, which has allowed many business leaders to establish market share globally. If reports are to be believed, investment in these three high-priority solutions will exceed simple software-as-a-service (SaaS) solutions. It is also important to note that almost every organization looking forward to integrate Enterprise Resource Planning (ERP) and other legacy solutions are partially or completely dependent on their hosts to resolve technical glitches pertaining to the software integration process. That is why; gaining expertise in the same niche and bringing cloud integration experts on board will entail greater margins throughout the year. Do you know why it is critical to develop expertise in cloud-based integration? Like technology has got advanced with the passage of time, in the similar line, end-users, too, have become even smarter. Business leaders prior to forming any association often use this metric to qualify resellers, as they are well aware of the fact that any wrong decision will hinder their overall IT strategy.
Cloud Analytics to Cross the Set Boundaries: With more and more data and applications gearing up for cloud world, focus on analytics and business intelligence solutions is on the rise. Businesses showing bend towards analytical initiatives and agility are successful in driving growth. There are a host of cloud analytics products and services available for end-users like data warehouses, software-as-a-service, business intelligence and cloud-based social media analytics. It is observed that companies utilizing self-service cloud analytics were able to efficiently align their business objectives to meet escalating expectations of their users. Today, most of the CEOs are seeking to partner with analytics vendors who can help them accommodate their burgeoning data and provide an amicable assistance and help in determining which operational strategies are best in a specific supply chain, production, including service limitations. Well, the future of the analytics completely depends on the proficiency of the systems that can quickly span the complete value chain of organizations. There are three driving factors that have potential to translate business values to analytics success, while offering greater scalability, stringent security, and high-end performance.
Custom-built analytics, CRM, and CPQ software ensure better results: One size never fits for all. Every business has its own unique applications, data, and users to cater to. A provider with an ability to gauge these requisite aspects have better chances for keeping up with users’ expectations. Service providers with a prowess and resources to customize and scale analytics, CRM and CPQ applications across different business channels are certainly going to mark their indubitable presence in the market. Apparently, most of the CIOs are implementing every possible measure to provide their sales teams with consistent pricing, product/service directories, and other quoting apps across different channels. Companies encompassing industry-wide experience in faultlessly scaling sales-based systems will give their sales teams better opportunities to coordinate and run the process. Service providers should master this expertise; because, not only in the present year but also in years to come, this skill set is needed to organize these multifaceted strategies.
To sum up the all, from SMEs to biggies, cloud offers an unmatched platform to roll out advanced CRM and selling systems without compromising on safety attribute. Today, businesses all across the globe are using cloud-based analytics, to gain quick data insights, to fathom what pricing strategies, marketing campaigns and solution yield greater sales across various segments. Balancing the data generated from different critical business projects in order to match the pace ascertains best collaboration and streamlined business functionalities. For solution vendors with the potential to integrate, customize and scale analytics – cloud analytics will turn out to be a profit–margin multiplier in 2016.