By Admin / October 26, 2020
If emerging technologies set the narrative for the past decade, then the Internet of Things (IOT) was at the helm of it. Pacing ahead towards a world of 20 billion connected devices by 2021, IOT has finally adorned a mainstream acceptance. And devices not just PCs and mobile phones but fully operational appliances such as vending machines, tracking devices, smart washing machines, self-driven cars and a lot more.
Consequentially, disruptive transformations in digital systems will have IOT as one of the crusaders while enterprises will have to hone their expertise in unlatching the true potential of EPM tools. Given the increasing dependency on IOT and lack of skills amongst those under the impact, industries will have a greater role in bringing these technologies to mainstream adoption. As enterprises will need deeper skills to use the implementations, managed service providers can help them to upscale their Big Data competency and analyze better without stressing on costs.
More Complexities in the Cloud – Do more than just providing anytime, anywhere access
System migrating from on premise to those high performing cloud environments has been the most visible transition across small, medium and large scale businesses. In fact, 80% of Fortune 500 companies use Microsoft’s Azure Cloud.
While cloud adoption will continue to grow explosively towards building newer and smarter platforms, EPM platforms should look forward to addressing more complicated issues. With enhanced customer engagement at the center, digital transformations will make use of multi-cloud platforms. Not just this enables the enterprises to seek the best from multiple services; SMEs have discovered a bigger opportunity in consumption-based pricing models. Nevertheless, server migrations to the cloud which has been the core revenue model for most MSPs while EPM is positioned right at the center.
Subsequently, that expects EPM cloud services to simplify complex movements in the cloud. This means the organisations must steer their focus from providing anywhere access to accommodating more accounts, ensure data security, manage spending, compliance and a lot more.
As per the findings from Rightscale Cloud 2019 report, enterprises end up spending 42% of their total cloud investment. The same report cited concerns about lack of qualified resources, a less talked about thought significant issue faced by 75% of MSPs. Not to miss, 52% of respondents also expressed interested in going hybrid with their cloud adoption.
Therefore, businesses must embrace multi-cloud services and address the challenges that come attached. Going forward, the complexities in the cloud services will impact everybody from the decision makers to the end users. The same can be achieved by making use of reputed products such as the Oracle EPM Cloud.
The unrivaled rise of AI in EPM
Bringing AI and predictive analytics to EPM can empower businesses to gain a competitive edge by staying in compliance with the unprecedented rise in automation. Therefore, contemporary automation solutions in the EPM ecosystem can improvise an overarching suite of services across enterprise CRM (Sales, Services & Marketing), Human Resources, Supply Chain, Distribution, etc. And While 71% of enterprises embracing cloud automation experience a 10% reduction in revenue, 2020-21 will see a doubling in the adoption rates.
At the core of it, automation is meant to empower the enterprises to focus on their COE business offerings. And MSPs can emerge as valued partners with their expertise to monitor and repair routine verticals in enterprise processes. One of the most widely outsourced functions to MSPs includes infrastructure monitoring.
If semi-manual procedures to identify root causes in enterprise infrastructure are your policy, it needs to change immediately. Automated workflows help in sending an alert whenever an abnormality is detected. This is a simple use case while the scope of fastening processes is indefinite. This includes actionable alerts to manage the critical systems, automate change requests, handle tickets and perform backups.
Rising concerns over cyber security
Clients want to know that their data and networks are safe. While jeopardized resources can potentially damage a company’s repute and finances, the paradigm shift towards security must be taken into consideration. The dependency on the cloud will continue to increase and so will the risk of exposing your enterprise data to an external system.
The average cost of the data breach until July 2019 was USD 3.93 Billion.
We are inching towards a market place that has positioned security above everything else. There’s USD 120 Billion spending on security at stake to curb rising threats, simplify regulatory compliance, frame workable policies and fortify from the fear of any data breaches. MSPs, at all level, have a crucial role to play. Starting in 2020, MSPs have a broad-ranging scope of offering security solutions within the managed services portfolio.
Notwithstanding the capital or the industry, enterprises must probe about the following services from their outsourcing partner.