The COVID-19 pandemic encouraged companies to use emerging technologies more frequently to control the digital wave on which they rely. Also, the businesses shift their workforces to remote work, relying more on cloud-based workflows. This transition from conventional workflows to technological workflows involves different strategies.
Although the digital system has numerous consequences for various businesses, it usually involves new technologies such as the cloud, artificial intelligence (AI), Big Data, and analytics. These have encountered increased demand compared with conventional services like the development and maintenance of the network applications.
Infosys Ltd, India’s second-largest exporter of sales software, is doubling its cloud investment as more and more clients select for remote solutions, new business models, and business continuity plans.
Infosys launched Cobalt last month, which is one of its most massive organic investments in recent times. It is a collection of services, solutions, and platforms that enable clients to develop cloud-based capacity.
Narasimha Rao Mannepalli, Infosys’s Executive Vice President and Head of Cloud and Technology Solutions, said that the cloud has been building in the past 2-3 years. It helps bring agility for companies and cost reduction, but the pandemic has further accelerated demand.
Nasdaq-listed Cognizant Technology Solutions Corp, which in India employs over 200,000 people, is also investing in digital procurement, and this year it has already made six cloud acquisitions.
Digital presents Cognizant with an immense opportunity, and we intend to capture it. “Our organic investment is balanced by a targeted M&A approach, which is based 100% on digital, says Brian Humphries, CEO, Cognizant. Cloud computing has changed the way we deliver IT through various infrastructure applications and platforms.
Digital sales for Cognizant rose by 14% a year during the June period, accounting for 42% of total sales. It compares with Infosys’s constant digital sales growth of 25.5 percent y-o-y and 44.5 percent of its overall sales.
Microsoft said Tuesday that its profit continued to grow in the recent quarter with the pandemic boosting the internet cloud trend towards the market. Intelligent Cloud sales rose by $10.8 billion, including 27%. Revenue for server products and cloud services grew by 30%, led by a 59% rise in Azure’s revenue.
“With our commercial cloud delivering $11.6 billion in sales for one quarter and up 36 percent annually, it’s a great beginning for the fiscal year,” said Amy Hood, Microsoft’s EVP and Chief Financial Officer.
“Our cloud demand led to a strong financial year start,” said Microsoft CFO Amy Hood. According to Hood – Microsoft created $15.2 billion in Cloud Computing revenues for corporations.
India’s largest exporter of software services, Tata Consulting Services (TCS), estimated a 9.4% increase in net income in the first quarter on Tuesday, after the growth of modern cloud computing and mobile services.
Krishnan Ramanujam, president of business & technical services TCS, said that TCS has the primary growth strategy for its cloud business. That being said, “TCS often searches for key acquisitions, not as a growth strategy, but key strategic ability, market forces, and so on, which can increase the intensity of our broader cloud sector,” said Ramanujam.
Wipro said that it has a strong cloud pipeline, enabling customer staff to work both home and away. Jatin Dalal, Chief Financial Offices Officer, had said before: “The world of demand is powered by what we call the three ‘Cs’ – cloud, collaboration and cyber.”
Oracle managers invest in new products and hire salespeople to increase their revenues from cloud-based products, which allow companies to access internet-based software and services rather than run their systems. During a quarter ended August 31, the company said Thursday in a statement that cloud-based revenues jumped at 51 percent. Oracle has already been a client for many of the world’s biggest businesses and is working more and more to turn business software purchases from those customers into the cloud. “To sell a lot more cloud products, they exploit their current partnerships.”
Cloud-based application revenue, from services assisting businesses in handling finance and human resources activities, has risen to 62 percent. The second component of the cloud sector, which includes databases and raw computing resources, grew 28%.
India has become a 30% CAGR or a $3.5-billion FY20 revenue market for cloud-based applications or software (SaaS), including large and emerging start-ups, such as InMobi, Freshworks, Zoho, Capillary Technologies, LogiNext, and FarEye. On Thursday, a Nasscom report said that growth is approximately 1.5 times higher than on the global SaaS industry. At $100 billion in sizes in 2019, the global economy is rising at 22.6% of CAGR. Moreover, by 2025, from the current revenues of $2.5 billion from “pure-play Indian SaaS firms,” the Indian market will likely grow by 6x to $13-15 billion further.
ITIL framework helps IT firms to increase revenue
ITIL 4 assists IT teams in steering the digital transformation process of their company. We are in an unparalleled period of transition, called the Fourth Industrial Revolution. Significant digital transformation includes people-, method- and technical interaction. This modern digital world is an increasingly rapid and dynamic environment that requires organizations to adapt rapidly to new operating ways to create a more agile and integrated environment. In helping businesses streamline IT processes to be more agile and power the IT team’s capacity to handle change efficiently, ITIL 4 plays an important role.
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Cloud computing is mature, multi-cloud in 2020, and is expected to concentrate more on vertical and sales competition as the world’s leading vendors battle for market share. Companies aim to quickly raise their cloud sales to about 40-50% of their total digital enterprise. Digital expands even more rapidly than conventional businesses.