Will the cloud help your business survive?

The answer is probably yes, but it’s just one element of the new approach that ITSM firms need to succeed...

Cloud illustrations on a blue background with a ladder

The business landscape for IT services companies has changed almost beyond recognition in recent years. The emergence and adoption of cloud computing has given organisations the ability to transact and make decisions faster and with greater accuracy than ever before.

Other shifts, such as the increasing focus on e-commerce and the immediacy of social and mobile are also piling on the pressure.

Advertisement - Article continues below

ITSM firms must adapt or risk becoming extinct. But it's not enough to just acknowledge a need to change you need to know when and how to do it.

If you're a large firm, you need to think and act as agile as a start-up. While, if you're a newbie, you'll need to quickly gain the credibility and scale of the more established players, getting to market rapidly and expanding internationally.

"All ITSM companies whether VARs or MSPs etc. are having to restructure their businesses in the face of changing demand. They're shifting from a pure focus on just products or services to offering a mix of products, services and subscription based business models," said David Turner, Senior Director, EMEA for Oracle NetSuite.

"Shrinking margins are having a real impact on their business as they try to juggle the need for higher volumes while keeping costs down and being much more efficient. Some firms are facing the need to increase volumes by 3-400% a year just to stand still. Automation is one answer and is a way of being able to do more."

Advertisement
Advertisement - Article continues below
Advertisement - Article continues below

Existing business models are being challenged and, to remain relevant, organisations are having to reinvent who they are and what they do, according to Turner.  But, he added, the cloud offers much potential for support in these endeavours.

Even for businesses that are standing still, automation can help free up valuable resources rather than simply being used as a cost-cutting measure, added Steve Brooks, principal analyst at Creative Intellect Consulting.

"A finance team could spend days working on month-end close. With automation, it can be measured in hours". 

Brooks added: "The market is evolving and changing. At the same time, opportunities are both shrinking and growing. ITSM companies need to keep aware of the future market and understand what is adding value. They need to get close to customers. Vendors cannot have 1:1 relationships with every customer it just doesn't scale".

"Change needs to be addressed in three ways 1) Operationally and through automation. 2) Business models need to be reassessed and 3) Through routes to market

If you would like to learn more about how you can position your business for change, join us for a live panel discussion on 22 November. For more information and to register, please click here

Featured Resources

Staying ahead of the game in the world of data

Create successful marketing campaigns by understanding your customers better

Download now

Remote working 2020: Advantages and challenges

Discover how to overcome remote working challenges

Download now

Keep your data available with snapshot technology

Synology’s solution to your data protection problem

Download now

After the lockdown - reinventing the way your business works

Your guide to ensuring business continuity, no matter the crisis

Download now
Advertisement

Recommended

Is your business getting the most out of AI?
artificial intelligence (AI)

Is your business getting the most out of AI?

15 Jun 2020
Defeat your data deluge with cloud object storage
Advertisement Feature

Defeat your data deluge with cloud object storage

16 Apr 2020
How AI and machine learning can simplify your digital transformation
Sponsored

How AI and machine learning can simplify your digital transformation

26 Nov 2019

Most Popular

How to find RAM speed, size and type
Laptops

How to find RAM speed, size and type

3 Aug 2020
How to use Chromecast without Wi-Fi
Mobile

How to use Chromecast without Wi-Fi

4 Aug 2020
How do you build a great customer experience?
Sponsored

How do you build a great customer experience?

20 Jul 2020