This post comes from the perspective of Montserrat Corominas, the managing partner of Intergroup Partners.

It is a fact: cloud services and SaaS-based business models drive innovation across all industries.

I would like to challenge you to consider questions such as, "How can I impact my customer base by leveraging cloud services?" or "Why as CEO is this something I need to look into?"

As we proceed into the third wave of the Internet, almost every business and industry is already affected by the offerings of cloud services. Numerous forces and dynamics are driving these trends, first and foremost simplicity, scale, and new technology consumption models.

In general, these business models result in less risk when applying innovation, provided you thoroughly understand the requirements for you and your customers.

The new cloud services and IT consumption models can impact your business by:

  1. Acting as a catalyst and enabler for business innovation
  2. Empowering business units to act more autonomously
  3. Reducing costs with little upfront investment
  4. Minimizing deployment and implementation costs by optimizing resource requirements and allowing new resources to be supported
  5. Speeding up time to market and scale, allowing for more innovative business models
  6. Entering previously inaccessible new markets and customer segments

Therefore, how can you impact your customer base by leveraging cloud services?

Although cloud services can help in making internal processes more cost effective and efficient, the real value is in enabling innovation to take place without heavy Capex requirements or other technology dependencies.

The cloud enables new business models for strategic projects, such as:

  • New payment models
  • New product-service combinations.
  • Big data analytics, to provide insights for the users of your products.
  • Lowering transaction costs for your customers and suppliers, creating a more seamless interaction and better supply chain management

The key strategic question to ask is, "Can I - and how do I want to - leverage resources outside of my organization to change/enhance my business model?"

New opportunities for the future of your business may arise through the options enabled by use of cloud services that were never previously feasible.

Reach out to your team and a specialized advisor in go-to-market business models to understand the specific requirements of your business, as well as to decide on the right mix of internal and external cloud services to utilize as they can vary case-by-case.

The time is now.

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Published on: Sep 7, 2016