Every Cloud Has a Silver Lining: Key Benefits of Cloud Technology and How It’s Driving Digital Transformation in Large Enterprises

13 Sep
Nakisa Revenue Recognition

Every Cloud Has a Silver Lining: Key Benefits of Cloud Technology and How It’s Driving Digital Transformation in Large Enterprises

According to the Cloud Industry Forum, 72 per cent of organizations are expected to roll out digital transformation strategies within the next two years.

Are you one of them? If so, how is your organization setting your transformation up to be successful?

Experts are now saying that preparing a strategy alone is not enough for an organization to undergo a complete digital transformation. In a recent cio.com article, it argues that in order to “truly transform,” organizations must also leverage the cloud in tandem.

With the cloud becoming the future of computing, it’s no surprise that this technology is also proving to be one of the most powerful digital disruptions of this decade.

“This is not marketing hype, cloud computing and digital transformation go hand in hand,” says Alex Hilton, CEO of Cloud Industry Forum. “85 per cent of businesses with a digital transformation plan have benefited from a tangible competitive advantage.”

Thankfully, many of the tools to solve today’s organizational problems—like adoption of the new IFRS 16/ASC 842 leasing standards or preparing for the organization of the future—are offered as cloud-based options. Don’t let tech jargon about the cloud mystify you and hold you back from further exploring the possibilities. Once you realize the benefits of the cloud, it’s easier to understand its widespread popularity and how you can adapt the technology to drive the digital transformation in your enterprise.

Key Benefits of Cloud Technology:
  • Accessibility:

    The biggest benefit of cloud technology is its accessibility. If you have internet, you can access the cloud. More importantly, the cloud can be accessed from virtually any device. Especially with telecommuting on the rise, employees are coming to expect more flexibility in their work practices. Shhh, nobody needs to know that your virtual office for the remainder of the summer is the cottage…

  • Real-Time ERP-Driven Data:

    With cloud-based solutions like Nakisa Lease Administration and Nakisa Hanelly that integrate with your ERP systems, you could say that the access to data is ‘lightning’ fast (sorry, we couldn't resist!). Because the data you access will be the most up-to-date, you can guarantee the quality, accuracy, and integrity of your data. Why? Because the data is stored and derived from your existing ERP solution, so there’s no need to rekey information or sift through conflicting file content. This centralized data storage location means greater visibility and improved collaboration for all of your users—with less manual work for you.

  • Lower Internal IT Dependency:

    By having your solutions deployed, updated, and maintained in the cloud, there is much less dependency and stress on your IT department to run them. Instead, that burden rests on the cloud service provider, who is, essentially, a dedicated team focused on keeping the solution up and running, so your IT team doesn’t have to.

  • Scalability:

    Unlike on-premise deployment options where you are ‘locked’ into the bandwidth of your server infrastructure, the cloud is infinite and the most customizable option as a result. Because the cloud is easily configurable, it is an especially great option for the SMB market. Businesses anticipating significant growth or those with fluctuating bandwidth demands will greatly benefit from the cloud’s scalability, which can be modified to reflect the enterprise’s needs at any point in time.

  • Lower Costs:

    Due to its scalability, cloud offerings typically operate on a subscription-based payment model with fees paid monthly or yearly. Not only does this mean the financial commitment is significantly lower, but there is a reduction in costs overall. By eliminating hardware, you’re also eliminating the costs associated with maintaining this hardware, such as IT and security.

Nakisa Cloud Benefits:

What if we told you that it’s possible to have a software-as-a-service, single-tenant solution that gives you access to cloud benefits while maintaining the security and data privacy benefits of an on-premise deployment? Introducing Nakisa’s approach: Hanelly for organizational design and Nakisa Lease Administration for IFRS 16/ASC 842 compliance.

Every cloud has a silver lining—ours is Nakisa. To learn more, please visit www.nakisa.com or book a demo with a product expert today.