The role and benefits of cloud are significant. It has become one of the emerging trends since it embraces several advantages, such as high performance, quick application deployment, and centralized data security.
However, the horizontal cloud sometimes does not meet the requirements of some industries, such as healthcare and banking. This is where the Industry Cloud comes into play!
Industry Cloud helps businesses accelerate innovation and engineering advancements. It provides a blueprint for industry-specific transformation. As per the Deloitte report, Industry Cloud could benefit 64 percent of the cloud market.
However, adopting it can be as tricky as any other cloud service. So consider the steps mentioned below to get the most out of it.
Before that, let’s find out what is and why it matters.
What is an Industry Cloud?
Industry Cloud is a custom cloud solution which is customized to the business’ requirements in particular sectors, specifically vertical market organizations such as finance and healthcare. It leverages APIs, data models, tools, and workflows to meet industry-specific obligations that range from regulatory mandates to performance demands.
Considering the industry challenges, this cloud helps organizations attain standardized configuration, enhanced operation efficiency, deep customer engagement, and personalized holistic solutions.
Benefits of Industry Cloud
Several enterprises can benefit from industrial cloud platforms by bringing together separately purchased cloud services. The main benefit of Industry Cloud is it addresses the problems that most businesses face regarding security, compliance, and regulation. It also provides:
- Shorter cycle time
- Customized holistic solutions
- Compliance with industry-specific regulations
- Data-driven decision making capabilities
- Enhanced operational efficiency and agility
- Strengthened customer relation
With Industry Cloud, businesses can create disruptive capabilities to stay differentiated and innovative. They can save the time and efforts required in designing and transitioning to cloud environments.
5 key points to consider before adopting an industry-specific cloud solution
1. Understand ownership
It is important to define the responsibilities around an app before moving to industry-specific cloud solutions. The tasks will be managed by either the end-user, the administrator, or the cloud service provider.
2. Consult with regulators
One of the biggest advantages Industry Cloud offers is that it comes with easy adherence to certifications and compliance regulations. Undeniably, the complete understanding of the entire regulatory requirements is complex.
Below, we’ve compiled some of the most significant industrial-specific regulations that industries need to be aware of, such as:
- Health Insurance Portability and Accountability Act (HIPAA)
- Payment Card Industry Data Security Standard (PCI DSS)
- General Data Protection Rule (GDPR)
- Federal Information Security Management Act (FISMA)
3. Prepare for shifts in roles
Does your company own its data center? If yes, then there must be a team of administrators running the infrastructure, which ensures compliance with industry regulations. Shifting to the cloud can move the management of infrastructure off-site.
However, the same set of administrators will supervise the monitoring and reporting functions of the compliance process.
4. Negotiate an off-ramp
The industry-specific clouds come with a number of benefits. But, if it is not providing the expected value, consider adding an addendum to the agreement. It allows you to shift to a new platform.
5. Get third-party opinions
Vertical cloud platforms come in different sizes and scopes. However, sometimes users do not expect to understand all of the variations. Therefore, it is ideal to seek out recommendations from other industry sources, for example, partners, former colleagues, and analysts. It helps organizations consider the right platform for them.
Tip: Consult with experts in cloud assessment and cost optimization services to pave the path for cross industry collaboration.
Faster time to markets
Industry Cloud is a great option for businesses as they can grow at a faster rate and stay abreast of complex and ever-changing industry-specific services.
It enables organizations to get a faster time to market for new products, services, and business capabilities. However, choosing to use one requires a full cloud assessment. Hence, look for cloud service providers who can best support your business in a tailored manner.
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