change of customer Employee expectations, disruptive technologies, a rapid and unique pace of change, and new, agile digital business models mean companies must start today to create strategies that will help them prepare for tomorrow.
And at the forefront of this changing landscape, particularly in finance, is the cloud. During the pandemic, the cloud has been a business enabler for every company. And organizations that were already well advanced in their journey to the cloud thrived, while those that weren’t yet struggling or even closed their doors.
Now, in the wake of the pandemic, savvy businesses understand that the cloud is so much more than just a technology — it’s a destination for businesses of all sizes to access their data and workloads, as well as breakthrough applications and software, over the internet.
The bottom line is that the cloud enables innovation. It helps companies quickly build secure and scalable apps, support new products and services, and completely transform business operations. It also helps organizations work together more efficiently, both inside and outside the organization, anywhere, anytime.
A recent survey by AWCape in cooperation with sage and TechCentral examined the many ways the cloud can help companies with their financial operations today, the problems it can solve, and the reasons that prevent certain companies from achieving their cloud goals.
Efficiency determines business decisions
One thing is clear: migration to the cloud has become critical. It enables organizations in every industry to modernize and future-proof their IT investments.
When asked what benefits they hoped to gain from their cloud investments, nearly three-quarters of respondents (74%) cited increased efficiency, followed by improved customer experience at 69% and improved security at 67%. Faster processing speeds were a factor for 65% of respondents, more agility for 58%, and lower costs for 56%.
Faster time-to-market for new services by leveraging cloud-based, agile DevOps approaches was a factor for 50% of respondents. The same number also cited breaking down silos and achieving greater operational efficiencies.
Employee experience is king
While improving the customer experience has been a concern for many years, savvy companies are realizing that the employee experience is also important. Empowering the employee experience has a variety of benefits, all linked to employee job satisfaction, resulting in improved customer care, higher profits, and better market positioning.
This was clearly reflected in responses to the question “What are your top three outcomes from adopting cloud solutions?”, where improving employee user experience ranked first at 58%.
Next came “improving data and application integration” at 54%, and another 53% hoped to reduce management costs. 36% cited enabling agility and a unified view of the business, and 35% hoped to reduce their dependency on IT.
Congratulations to Melissa Kamoran for taking the time to complete the survey – your insights were greatly appreciated.
To learn more about how you can improve your organization’s financial cloud operations and drive better customer outcomes, visit www.awcape.co.za.
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