Skyrocket Your Business: Harnessing Cloud Technology for Unprecedented Business Growth
Cloud is the powerhouse that drives today’s digital organizations.
According to Gartner, one of the world’s leading research and consulting firms, the global end-user spending on public cloud services is expected to reach nearly $600 billion in 2023. The statistics indicate the still rising popularity of cloud computing services, including servers, storage, databases, and software applications.
In a post-Covid world, working from home or hybrid models are the new reality. Cloud computing has enabled a smooth transition of both services and providers to online platforms.
Businesses can exploit cloud services to achieve far superior results at a fraction of the cost of on-premise IT systems. Having your business data on remote servers allows an easier and wider reach to the customers enabling growth. Let’s take the example of an insurance company. Using remote servers to manage their large database of insurers would allow flexibility, scalability and cost efficiency. Also, intelligent data management can provide high-impact insights into customer behaviour, preferences and risk profiling.
“Cloud computing is indispensable for the insurance industry as it is adaptable to individual business needs and it allows the freedom to scale. Opting for cloud services gives you the facility to rent space for data storage and leverage computing power,” explains Randall Perrey, CSEO, ADROSONIC.
As a cloud computing expert, Perrey is quite enthusiastic about the possibilities of this rising technology trend, especially in the insurance sector. “Cloud service gives an insurance firm a lot of flexibility. Your business might have a large amount of data. You can store that safely in the cloud, but you don’t want to compute on top of it, you don’t want to do a lot of work on it all the time, maybe only during certain parts of the year. Renewal season is a good example of that. So, your business can be paying for your data, but you don’t necessarily have to pay for all the computing power apart from those peaks and troughs. You can rent the service as per your need.”
“This stands true for any sector, not just for insurance. A new start-up can either opt for both the facilities or it can rent the two independently. The scalability of cloud services is ideal for smaller start-ups because they can start small, pay low. And as the organization grows, they can scale up their IT segment without a big capital investment, without having to worry about data centres, without needing extra manpower to ensure network security. All those things can be purchased from the cloud providers.”
Consulting firm MarketsandMarkets has predicted that the global cloud computing market will reach US$1,240.9 billion by 2027, growing at a CAGR of 17.9 percent.
Randall Perrey oversees Development, Security and Operations (DevSecOps) for ADROSONIC. He has a PhD in Enterprise Systems Architecture and specializes in Cloud Computing and Salesforce development. With over 20 years of experience in regulated industries like banking and insurance, Randall is a top expert best suited to guide on the latest technology trends.