In the present circumstances, digital transformation is rapidly becoming a top priority. As businesses across the globe claw their way back from a crippling pandemic, they will need to undertake a major overhaul of how they operate.
Regardless of the industry or niche, we are moving towards a digitally driven and contactless transactional environment. Whether its banking, insurance, retail or other sectors with day to day interface, things are moving at a rapid pace.
The Central Role of Finance
Its not an overstatement to say that all this transformation is revolving around finance. At the end of the day, every business wants to thrive and generate the maximum revenues even in these testing times.
For this very reason, the financial sector is at the forefront of this digital transformation drive. Banking, finance and even non-financial institutions with an indirect interface with money need to undergo a massive transformation to adapt.
Related: Stages of Digital Transformation
Cloud Computing and Fast Track Transformation
While hardly any enterprise would disagree with the notion of digital transformation, the level of urgency is quite likely to vary. Regardless of that, every business would desire to accomplish digital transformation, or re-factoring in the minimal possible time.
However, when you talk of years or decades old legacy systems, things are easier said than done. Most of these systems have gradually evolved over the years, as a result of constantly changing needs and are too intricately interwoven that you can’t risk too much meddling.
So, is there a technology platform that helps enterprises, financial or otherwise, to accomplish digital transformation without too many speed bumps. Well, the answer lies in Cloud Computing and specialized Cloud Service Providers (CSP) like dinCloud.
By choosing the Cloud for digital transformation, enterprises can seamlessly initiate their digital journey, without “rocking the boat” too much on the side of on-premise legacy systems. In this way, legacy systems can gradually transition to the Cloud upon stability.
Related: 3 Reasons to Embrace Digital Transformation
“as-a-Service” and APIs as Key Enablers
When coupled with the versatility and flexibility of the Cloud, as-a-Service offerings and application programming interfaces (APIs) can become key enablers as well as accelerators in digital transformation.
Take the example of Platform as a Service (PaaS), which provides developers with the requisite tools and development infrastructure to produce innovative tech solutions. Such solutions can either be leveraged by a single enterprise or even an entire industry.
Another key enabler in fast track digital evolution are APIs. These are a very effective via media, whereby organizations such as banking institutions can give limited access to their back end infrastructure for developing innovative tools and solutions.
These solutions, once developed successfully and thoroughly tested, can be incorporated in a wide range of contactless transactions such as the multi billion dollar online retail sector, insurance and countless other domains.
Related: Digital Transformation and the Future of Work
Cloud – The Binding Factor
The focal point or anchor of this entire development environment can be the Cloud. Take the example of leading Cloud Service Provider dinCloud, which has a global footprint of state of the art data centers.
With access to limitless storage and compute in a secure cloud environment, businesses can leverage the on-demand scalability of the Cloud to their maximum benefit. In the Cloud, you pay only for what you actually use, and this is a great advantage in this crunch era.
Related: Managed Services: The Key to Digital Transformation
Conclusion
The power of the Cloud, when coupled with other as-a-Service and API platforms, can result in fast track digital transformation that can change the entire landscape of an industry. The major point that still remains is, are enterprises prepared to take the leap to the Cloud?
If so, feel free to Contact dinCloud for some of the most reliable, secure and cost efficient cloud solutions.
