Modern-age businesses with inadequate cloud infrastructure are hustling to ensure their business stability and continuity during the pandemic. On the other hand, bleeding-edge cloud-first startups to enterprises that have adopted cloud technology way before the COVID-19 crisis are minting its advantages even in current circumstances. Disrupting the lives of millions of people across the globe, the cloud has provided a cushion to industries against adherence to security compliances, made it easier to adapt to operational workflow transformation, ensured a seamless employee-client collaboration, and helped embrace a new workplace reality. Had there been no cloud, business continuity would have been under jeopardy. This blog will shed light on how cloud computing technology has helped major industries and stopped their business operations from getting derailed. Let’s look at each one of them one by one.
Retail Industry – Brick and mortar model, business continuity, supply chain management, and omnichannel capabilities have revealed the vulnerabilities of the retail industry under the wake of the pandemic. Retailers would have been hit hard due to the unforeseen shutdowns if it hadn’t resorted to digital platforms. The sector is transforming its IT infrastructure to focus on e-commerce websites and chatbot services as online shopping has increased manifold lately. Cloud computing services can help retailers cope with scalability, capacity management, and cost concerns as markets have turned extremely volatile in terms of consumer demand and government rules. Moreover, communication platforms based on cloud help manage operational efficiency and boost employee productivity in tough times.
The bottom line – Cloud has strengthened the retail industry by maximizing supply chain visibility, offering exquisite customer experience, and facilitating efficient resource management.
Healthcare Industry – Cloud infrastructure facilitates the healthcare sector in managing patients’ reports and analyzing their data to get valuable insights. Healthcare providers are diverting towards scalable and secure storage cloud solutions as electronic health records are increasing like never before. The cloud-connected telemedicine and telehealth connect healthcare providers with patients through virtual channels where doctors are providing online consultation to people who are locked at their homes. Cloud computing services, specifically cloud-based apps, aid healthcare research work by providing clinical COVID-19 insights. Cloud takes care of speed, flexibility, and security all at once when it comes to dealing with confidential records of the healthcare sector.
The bottom line – Cloud has bolstered the healthcare industry by providing easy access to data, data interoperability, secure EHR storage, and collaborative patient care in real-time.
Manufacturing Industry – Businesses in the manufacturing domain who haven’t embraced cloud technology yet have undergone a major setback. In the Industry 4.0, smart manufacturing and digital transformation have helped the industry to stay afloat with enabling technologies like Artificial Intelligence, Internet of Things, Industrial Internet of Things, Digital Twin, Blockchain, etc., along with the cloud. Every machine, equipment, plant, factory, or supply chain transaction that is connected to the cloud is capable of giving employees secured and remote access to process essential data which has greatly helped the industry.
The bottom line – Cloud has empowered the manufacturing industry by making the processes and every successive stage more productive, cost-effective, collaborated, and streamlined.
Finance Industry – Cloud computing technology provided a cushion to the finance industry during the pandemic to help the domain deliver seamless online financial services to people. FinTechs have played a crucial role during the crisis as it has helped people to apply for mortgages and pay bills online, or make e-payments/e-transfers with just a single click through digital payments apps, banking apps, and frictionless digital banking. Cloud-based SaaS offering helps the banking clients to manage their accounts instantly in real-time. While some of the legacy-model financial companies could collapse, FinTechs are all set to gain momentum in 2020 and beyond to bring digitalization in the traditional financial institutions; the revolution triggered by the crisis.
The bottom line – Cloud has supported the finance industry by providing scalable computing for databases, forge strong relationships with clients, improving flexibility and efficiency.
(Read more – Evaluating The Impact Of COVID-19 On FinTech)
Cloud computing technology has kept the business continuity intact during the COVID-19 crisis that has debilitated the entire world’s economy.
In other words, the coronavirus outbreak has been acting as a reality check for the businesses by highlighting weaknesses and has exposed gaps in the system of every industry. Businesses that did not believe in the power of cloud rather opted to continue with on-premise IT infrastructure have paid a heavy price for not resorting to cloud and it will take a toll in terms of hampering their future growth as well.
Whereas those who acknowledged the power of cloud were able to,
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