Are you Cloud Ready?
Throughout this blog series we have discussed the positive impact the cloud can bring to your asset and equipment finance operation. We have seen this first hand with the customers we have transitioned to IDScloud the past 12 months who are now experiencing the benefit of a 100% SaaS asset finance platform. As you explore technology options to support your business, there are a few things to consider:
Cloud-based solutions are positioned to positively and dramatically impact the future of the asset finance industry. Transitioning to the cloud will positively impact the entire organization, including IT professionals. One of the significant advantages of cloud, and SaaS in particular, is the ability for the vendor take care of day-to-day application health and performance and deliver new services without interruption to users. The power of a connected ecosystem and the ability to embrace new technologies as part of the cloud can only take place if the underlying technology solution is upgraded to capitalize on these new architectures and opportunities. With SaaS based solutions, upgrades happen in much shorter intervals and are deployed into an environment architected by the application developer. The SaaS developer is the expert and is able to deploy new functionality and manage the application without disruption to the end user; continuous integration, continuous deployment are the hallmarks of a modern SaaS solution.
Practically, this means the typical expense and headaches associated with building out an on-premise environment to run your operation is transitioned the SaaS vendor. This allows you and your team to focus on the business of financing, not supporting and maintaining a software application which supports your business.
Cloud technology is opening the door for new innovation within asset finance. Cloud technology enables a host of new and exciting creative products and services that can now be delivered to help optimize processes and improve the customer experience. The change will not happen overnight, but it is coming. Continued advancement of cloud solutions will level the playing field, allowing lessors of all sizes to have the same foundation to innovate with new financial products. Famously said by Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, in the new world, it is not the big fish which eats the small fish, it’s the fast fish which eats the slow fish. Market share will go to the companies that can deliver the most value in a time efficient manner to their customers. Cloud offers a distinct advantage. Are you cloud ready?
Ray Wizbowski, Vice President of Marketing