What Are The Advantages Of Betting On The Cloud In The Retail And Insurance Sector?

There is no doubt that to speak of cloud computing or the provision of services in the cloud is to talk about a reality that is playing an essential role in the transformation of various industries. There is cloud technology in the education and financial sector, but they are not the only ones. Sectors such as retail or insurance are also taking advantage and benefits of the cloud.

A study by Harvard Business Review underlines that 74% of the companies surveyed admitted that cloud solutions offer them a competitive advantage. In addition, the interest and adoption of cloud solutions and services are growing, according to the report of Verizon.

Retail

The advantages in retail are not focused on one area. Still, the cloud has revolutionized the point of sale model and online commerce by boosting all operations and improving business results.

But on the other hand, it allows to increase collaboration, manage inventory and increase customer service. Related to the latter, let’s take the example of seasons, such as sales, in which the volume of online purchases multiplies. Some companies cannot deal with this increase in traffic, and their systems go down.

When it comes to inventory, real-time access is one of the options that the cloud allows the retailer. One example is the mobile devices with which Inditex group employees can immediately check the stock of a specific product, both in any store and online.

And finally, concerning improving customer service, this translates into retailers being able to retain their customers.

Some Of The Reasons Why Retailers Are Betting On The Cloud Are:

• Anyone from their mobile, tablet or computer can enter a store and see the products. I can offer customers a safe and efficient experience across all devices with what I retail.

•  The ability to manage from anywhere. All your employees can update inventory or answer questions while they’re in or on the way to the office.

• Save money.

• Simplify the IT infrastructure.

Insurers

And if we talk about the insurance sector, how can insurers take advantage of the benefits of the cloud? We can summarize the benefits in that thanks to the adoption of cloud services, they can reduce operating costs improve productivity and customer satisfaction.

Going further, the signatures insurers can, for example, improve that productivity through the convergence of cloud and collaboration technologies that allow employees to collaborate on shared applications from any device, anywhere.

This convergence, taken to a practical example, is the self-service platform where customers can make claims online and see the status, select an establishment to carry out a repair or set a date to rent a car. Another example is the management of car claims in the cloud through a collaborative platform.

But in addition to these advantages, thanks to the cloud, insurers will have the skill of:

• Unify customer data, being able to focus on a customer-centric perspective.

• Manage peak demand easily and at a lower cost.

• Better manage relationships with intermediaries.

Ultimately, cloud capabilities such as collaboration solutions can significantly improve customer satisfaction and strengthen brand image in the insurance industry.

Also Read: Cloud Data Management As An Alternative To Traditional Data Management