Cloud computing has risen to the highest of CEOs’ precedence record lately, and has grow to be a key subject of boardroom discussions. The fierce competitors and the ever-changing financial and know-how dynamics have prompted organisations to continually upscale their processes and cloud is serving as a elementary enabler right here.
One such organisation that’s banking on its cloud investments is SBI General Insurance. With a presence in over 137 cities in India, it presently serves three key buyer segments: retail, corporates, and SMEs. Functioning within the BFSI sector, one of many fastest-growing sectors of the Indian financial system, SBI General Insurance is counting on cloud functions to boost and optimise its inside and exterior operations.
Cloud enablement
The firm has step by step strengthened the digitisation course of and now moved lots of its digital functions to the cloud for sooner and seamless customer support, although the hybrid atmosphere it has chosen consists of each on-premises deployment and cloud use.
“Our overarching goal of becoming a digitally empowered organisation prompted us to select the Oracle Fusion Cloud ERP Solution. We implemented their Digital Procurement Module because it allowed for quick implementation and the flexibility to ‘Pay as per actual usage’. We were able to streamline, automate, and improve our procurement operations thanks to its advanced embedded capabilities”, stated Anand Pejawar, deputy managing director (DMD), SBI General Insurance.
“Cloud applications are enabling organisations of all sizes to transform themselves and grow, particularly SaaS applications and embedded AI and ML capabilities that enable businesses to improve their core processes. Cloud-native applications’ flexibility, scalability, and agility enables organisations like SBI General Insurance, which operate in a highly dynamic environment, to grow exponentially,” stated Prasad Rai, vice-president, Global Strategic Clients Group, Oracle India.
Propelling progress
Cloud adoption is commonly termed to be a time-consuming and expensive course of. However, the advantages accruing to organisations in the long term outweigh the preliminary challenges. From cost-effectiveness to scalability with pace to speedy deployment and threat administration to elimination of IT interruptions and less complicated knowledge entry, cloud adoption has myriad advantages to supply. This is properly mirrored within the exponential progress in cloud investments throughout industries.
“We use and evaluate cloud financial modelling, allowing stakeholders to take appropriate action in the cloud adoption process. Cloud adoption provides us with the agility and flexibility to experiment with and adopt new solutions and innovations,” stated Pejawar. “It has aided us in the integration and migration of our accounting, financial management, project management, and procurement operations to a smart, AI-enabled platform.” He added, “leveraging the Cloud ERP solution, we were able to consolidate all our procurement-related operational processes onto a unified platform, reducing manual work and enabling faster turn-around time.”
CIOs are contemplating cloud implementation not solely as a know-how technique but additionally as a enterprise transfer. “Cloud computing has significantly aided our processes from a business standpoint. It has significantly enhanced growth, easing our transition to a data-driven organisation,” Pejawar stated.
Source: www.financialexpress.com”