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Did you know?
- Amazon accounts for more than 50% of its profits to cloud computing
- By 2020, cloud computing will grow to a $162 billion industry ; and
- On-premises data centres experience a higher rate of security incidents. This is as high as 51%, unlike cloud storage solutions, which offer better security features.
Cloud solutions, are the new-age IT infrastructure, proliferating across businesses around the world today. In fact, according to the survey results of the RightScale 2018 State of the Cloud Report, it has been stated-
- 81% of enterprises prefer a multi-cloud strategy; and
- over 38% saw the public cloud as their top priority.
While the statistics above are some reasons why businesses should move forward to adopt cloud technology, there are more reasons to cite its usefulness. Hence, to make you understand the importance of making the shift to adopting cloud computing solutions in this digital age, here are 10 reasons to help you.
10 Advantages of Making the Shift to Cloud
Cloud computing solutions are utopian for growing and struggling businesses since we can easily scale them up or down as required, drawing on the service’s remote servers. The level of agility offered by cloud computing for businesses gives them a real advantage over competitors.
Conventional IT solutions can be too demanding for businesses forcing them to commit most of their attention towards data storage and computer issues. This hinders businesses from concentrating on other business goals and customer needs. Cloud computing solutions can help businesses to overcome these problems.
According to Gartner Inc., a global leader on research and advisory, 90% of operations for disaster recovery will run on the cloud by the year 2020. Disaster recovery is one of the biggest use cases for hosted private cloud, and most organizations are relying on it to ensure that they retain access to critical corporate data. In case of threat to data, cloud computing solutions empower businesses to backup and restore what’s important.
Additionally, cloud computing solutions save businesses time. Otherwise, we would require to transfer and store data manually, especially when a disaster occurs. With such solutions, the entire process is automated, thus ensuring that work is done faster and without error.
Automatic software updates
Businesses can now forget about spending hours at a time trying to keep their software updated manually. The beauty of cloud computing systems is that you do not have to worry about their maintenance because your suppliers are there to look after it. Your cloud service suppliers ensure that your IT requirements are taken care of along with regular software updates and security updates on their schedule. Thus, you as a business do not have to worry about wasting time maintaining the system on your own.
Using cloud computing solutions eliminates cost that is incurred as a result of in-house storage, software updates, and data storage to name a few. Especially, when businesses use cloud-based services, it allows them to pay on a subscription-based model or to simply pay on the go. In brief, with cloud-computing solutions, any high- costing project can look a lot friendlier.
Increased team collaboration
Another great benefit of incorporating cloud computing into businesses is team collaboration. As per the reports by Cloud Security Alliance, users have regular requests to buy more cloud applications from over 79% of companies, collaboration and file sharing being the two most requested cloud services. With cloud computing team members can access and edit files in real-time and from anywhere in the world.
Work from anywhere
Cloud computing allows businesses to offer their team members flexible working hours, which means that they can enjoy a suitable work-life balance. According to studies, it was found that-
- 42% of workers were ready to exchange a part of their pay if they were allowed to telecommute.
- These workers were willing to even take a 6% pay cut for it, on an average.
Cloud computing gives businesses more control over their documents, especially when they collaborate on it more than often over the cloud. This calls for the need for watertight document control. Prior to the availability of cloud computing solutions, team members communicated by sending files back and forth via email. This enabled them to work on files one user at a time. This usually resulted in a conflict of the file content, thus leaving scope for complication.
When businesses move to cloud computing, the scenario differs. All files are stored centrally and accessible by authorised people. Thus we can say cloud services give businesses better visibility, which results in better and more streamlined work practice.
Cybersecurity is an ever-increasing issue for most businesses. As per the 2017 Cost of Data Breach Study: Global Overview, the overall cost for a data breach, on an average, is $3.62 million. Another research by Kaspersky Lab, a single ransomware incident can cost a company more than $713,000 on average. To overcome such situations, cloud computing offers better IT security that has quicker response to threats and also gives businesses the time to focus on risks. In brief, we can say that cloud computing gives greater security to your data since you can access it irrespective of what or where your system is, also allowing you to remotely wipe data from lost laptops so it doesn’t get into the wrong hands.
Adopting cloud computing solutions gives businesses access to enterprise-class technology, giving them a competitive edge over others. Even small businesses that adopt this technology are empowered to act as fast as big companies.
Fewer Carbon Footprints
According to a new study, companies can reduce their carbon footprints by over 50% when they move to the cloud. In fact, research by Pike Research claims that cloud computing can actually reduce the use of energy by 38% in the world’s data centres by the year 2020. Cloud data centres help saving energy. They are built to achieve high virtualization ratios, mainly on much newer and efficient equipment.
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You look at marketing: everything that’s happening in marketing is digitized. Everything that’s happening in finance is digitized. So pretty much every industry, every function in every industry, has a huge element that’s driven by information technology. It’s no longer discrete.
Chief Executive Officer of Microsoft
Citing the quote above, it can be said that the Information Technology (IT) industry is growing by leap and bounds, unlike any other, and India is not far behind. Consisting of two major components, namely hardware and software development, the IT industry is one of the largest private-sector employers in India. The industry has come a long way from facing a hostile economy to being one of the favourite destinations for IT-enabled services by overseas clients and a major contributor towards India’s GDP.
There is a lot that we do not know about the rich history of the IT industry in India, as well as its present scenario, and future predictions. This article attempts to cover all the aspects of the industry, with intricate details, starting from its birth, further shedding light on its progress till the present day and beyond.
A Brief History of the Indian IT and Software Industry
Let us break down each era in the history of the IT industry hierarchically so that we can have a better understanding of the events until the present time.
The Indian IT industry started its journey in 1968. This was when Tata Consultancy Services (TCS) was formed. TATA formed TCS for providing software development services, for the Burroughs Corporation, United States. During this time there were no local markets and the government policies were not friendly towards private enterprises making it hard for IT industries to survive.
The government policies remained hostile and the economy was controlled by the state. At this time, bank finance was not available for exporters and important tariff rates for software and hardware were hiked to over 100% and 135% respectively. It was also during this time when the first software export zone, Santacruz Electronics Export Processing Zone (SEEPZ), the forefather of all IT parks of the recent times, was established in Mumbai
This was the year when Rajiv Gandhi became Prime Minister, and government policies changed for the IT sector. The import tariffs for hardware and software decreased to 60% as per the New Computer Policy (NCP 1984). Over 80% of India’s software exports were from SEEPZ during this time.
This was the era when the Indian economy underwent major reforms, especially under the administration of Sri Atal Bihari Vajpayee (1998-2004), who appointed the development of Information Technology among the Indian economy’s top five priorities. He also established the Indian National Task Force on Information Technology and Software Development. The Department of Electronics created the Software Technology Parks of India (STPI) in different cities, owned by the government, which could provide VSAT communications without breaching its monopoly.
In the year 1993, the government started allowing companies to have their own dedicated links. This step encouraged companies to communicate their work directly abroad.
Regulated VSAT links became visible in 1994.
Legal procedures were created by the Information Technology Act, 2000 for electronic transactions and e-commerce during this time. Between the years of 1999-2000, the Indian IT industry grew over $5.7 billion, with a steady annual growth of 50% since 1991.
Where does the Indian IT Industry stand today?
India is home to some of the biggest and finest IT and software industries like International Business Machines Corporation(IBM), Tata Consultancy Services (TCS), Wipro, and Hewlett Packard (HP) to name a few. In fact, the country consists of over 75% of the global talent within the IT industry and it accounts for over 67% of the global outsourcing market. Furthermore, the Indian IT & ITeS companies have set up over 1,000 global delivery centres in over 80 countries across the world.
The data of progress of the IT industry in India up to the present time, along with all its core competencies and strengths, is huge and commendable, thus attracting significant investments from major countries globally. We can safely say that the Indian IT industry has successfully accrued important brand equity in the global market.
According to the National Association of Software and Services Companies (NASSCOM), IT exports from India will exceed US$330 billion by 2019-20. This accounts for nearly 14% of the projected worldwide spend if India maintains its current share of the global offshore IT market.
At present, the Digital India campaign run by the government is investing over $20 billion to improve the infrastructure of the internet in the country as well as to promote online payments and e-governance. On the other hand, the Startup India campaign supports technology startups, which are the critical components for the growth and development of the IT industry.
The future potential
The Indian IT industry is riding on the wave of the fourth industrial revolution, also known as Industry 4.0. This means that a great transformation is on the way for this sector. Upcoming digital businesses and their fundamental technology platforms will require support via a robust digital network, which will have a focus on the endpoints of the people involved.
Subjected to new trends, the Indian IT industry will witness an incredible amount of untapped potential, which will not only relate to technological trends of the present time. Simplicity, in terms of a user interface, for consumer benefits, should be the key focus for players in the IT industry. The reason why this will work is that with everything moving at breakneck speed, time is limited and consumers won’t have the time to learn how to use a product.
With new technologies evolving, cybersecurity is going to be a major cause of concern for businesses and an IT company is only as good as the services it can provide in this arena. Businesses are getting more digitized with every passing day, hence making their data and private information more vulnerable to cyber attacks. Hence, it is but only natural for IT companies to employ maximum security measures as they continue to develop the latest technologies for their clients. Continuous testing and maintenance of systems is a must to be able to stay one step ahead in the game.
Furthermore, automation and technologies of Industry 4.0 will also influence the workings of the IT industry. For instance, Artificial intelligence (AI) is already being used by many software companies to code, fix bug errors, and test software, which makes the life of a developer much easier in the process. This fact, of course, brings in the cause of concern among developers and programmers, of being replaced by robots in the workplace. This concern is relevant especially when a report like that from Horses for Sources predicts that India might to lose over 640,000 jobs to IT automation by the year 2021. But, this only holds true for those who are not in the loop with technology as it grows because there are other reports that state that the advancement in technology will create over 133 million new jobs as opposed to the 75 million that will be made obsolete.
The future of the Indian IT industry will heavily rely on the supply-demand chain. As digitization becomes more ubiquitous, it is only natural that the demand for IT services will be on a rise. This, in turn, will place a heavier responsibility on IT organizations due to increased competition in the market. In this scenario, it is only evident that the services of the IT industry will only come across as absolutely necessary in the future.
Artificial is changing business functions worldwide. The infographic gives an insight on the holistic benefits of using the technology.