Cloud applications have been at the forefront and go-to interface for consumers when they are dealing with the element of finance, which is one of the initial pioneer adopters of digital technology.

In the midst of the global pandamic, companies of all sizes and nature, industries, and geographies have learned so much about being resilient, scaling as needed, and, essentially, responding to the dynamic needs of their stakeholders as they start on the road to recovery. 

According to a report by the World Economic Forum reports,Asia’s diverse economies witnessed an overall by 2.2% decline in 2020[1], with an estimated 2.7% decline in IT spending.[2] In the face of that tough landscape, decision makers in the region still understand the need for persistent, sustainable digital innovation to get growth back on track. 

To be more specific, they are turning to a variety of cloud applications—many of them embedded with artificial intelligence, Internet of Things , blockchain , and other emerging technologies—to infuse innovation into every procedure be itHR, finance, sales, marketin,. manufacturing, , and other business functions, to drive considerable new value for their business.

Influential role of standards-based architecture

Carving out a competitive edge now involves businesses to operate as a single organism, with completely integrated suites of applications whose data flows seamlessly across each organisation function. However, the unfortunate reality, is that most companies’ legacy on-premises applications were internally developed or purchased at various times and levels and were customised along the way as they need to be evolved, making it difficult for them to exchange information.

Built on an open, standards-based architecture, cloud-native application suites  , areadapted to individual business needs and can be seamlessly integrated with one another. In fact, every quarter they are updated automatically ensuring that customers can gain possible value from the latest innovations and utlising the most out of it 

Transmuting the potentail of healthcare space

Consider how a array of healthcare providers in the India region are making use of standards-based, cloud-native applications. 

One prime example is Omega Healthcare, a leading healthcare outsourcing provider, as they embarked upon their digital transformation journey that required they rapidly scale their business as they saw meteoric growth. Through the adoption of Enterprise Resource Planning and Human Capital Management Clouds, Omega Healthcare was able to fully connect and integrate processes across the business. This seamless dataflow across business functions of finance, human resources, and sales created the opportunity for an enhanced service delivery efficiency for Omega Healthcare and quicker business- critical decisions.

An impact on finance and human resource departments

Cloud applications have been at the forefront and go-to interface for consumers when they are dealing with the element of finance, which is one of the initial pioneer adopters of digital technology.

A great example is a company that has managed to maintain their operations in spite of the restrictions due to the pandemic on the banking front is RBL Bank in India. They were one of the first banks in India to implement our Workforce Health & Safety Incident cloud service which enabled them to capture critical safety incidents and manage risks in advance efficiently. By utilizing cloud technology to support their HR function, the bank was able to have an integrated source of information, strengthening their ability to identify and retain talent using insightful analytics following a streamlined HR compliance process. 

Unlocking innovation through ordinary language 

The ways by which organisations are able to standardize and modernize their processes, analyze their data, get meaniningfull insights and eventually unlock their potentail to innovate is by Cloud applications. These applications are set up on open, standards-based architectures. . More importantly, they’re the foundation of true digital transformation, in India as well as and across the globe.