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Vlocity 2016 Predictions: Industry Cloud Rising

Virtualization and Cloud executives share their predictions for 2016.  Read them in this 8th Annual VMblog.com series exclusive.

Contributed by David Schmaier, Co-Founder and Chief Executive Officer of Vlocity

2016: Industry Cloud Rising

Undoubtedly, one of the most popular topics of 2015 was the continued, dramatic rise of cloud. Cloud CRM leaders like Salesforce were featured in more headlines and received increasing attention from IT decision-makers around the world. We witnessed significant growth in the space as enterprises embraced the cloud in wide numbers, further solidifying its use and acceptance. According to a recent Gartner report, spending on cloud computing is projected to surpass $180 billion by the end of the year.

With cloud technologies becoming more ubiquitous everyday, the question now is what will the next phase of enterprise cloud computing look like? We predict vertical cloud applications will take center stage as the next major evolutionary phase in cloud CRM.

Vertical cloud applications-also known as "Industry Cloud" apps-provide industry-specific capabilities including deep functionality, pre-built workflows, omni-channel communication, and automated business processes, all built on leading cloud platforms, such as Salesforce for CRM. In years past, organizations had to make a difficult trade-off: buy industry-specific software or buy horizontal cloud apps. Today, and even more so in 2016, users don't have to compromise; it's no longer an either/or decision. Instead, enterprises can and should have both: industry-specific functionality and the cloud. This takes CRM and "mid-office" applications the extra mile with customers. In the next couple years, it will be increasingly difficult to justify buying and maintaining on-premise software. We believe the industry is at a tipping point in which companies of all shapes and sizes are quickly starting to prefer industry-specific cloud solutions that are tailored to their business and update automatically, versus the old "one-size-fits-all" on-premise software that is costly and difficult to maintain. 

Industry Cloud is a natural evolution in cloud technologies. Companies initially migrated to the cloud for its efficiency and cost-effectiveness. As cloud-based solutions and cloud business models become the norm for many companies, enterprises are now seeking ways to tailor the customer experience and their software applications to their unique business needs. Many of these companies are finding ways to take cloud CRM platforms to the next level with Industry Cloud apps to offer unprecedented customer engagement, new sales and service opportunities, and operational efficiency.

Enterprises are realizing the best customer experiences are industry-specific, omni-channel and personalized. Customers have different preferences when interacting with businesses. Some may choose to call contact centers, others prefer in-person communication, while a vast majority expect to have access to mobile applications. Most customers will traverse multiple channels to contact their providers, and expect that the business can easily identify the customer and provide highly specialized service. Each industry has a different process with specific workflows that must be considered when building and deploying applications, making it easier and faster to manage and grow customer relationships over time.

In 2016, we anticipate there will be far greater demand for Industry Cloud apps built on the world's best cloud platforms. We see Salesforce continuing to win the enterprise cloud computing market, and we see increased adoption of vertical cloud apps across many divisions in the enterprise, from sales and service to marketing and analytics. 2016 will be the year that Industry Cloud apps usher in the next wave of CRM, the verticalization of the cloud.

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About the Author

David Schmaier is the Co-Founder and Chief Executive Officer of Vlocity, the world's leading Industry Cloud software company that empowers companies to deliver a unified and industry-specific customer experience. Prior to Vlocity, David worked as Executive Vice President at Siebel Systems, Inc., the leading provider of Customer Relationship Management (CRM) software that was acquired by Oracle Corporation in February 2006. 

 

Published Wednesday, December 16, 2015 8:04 AM by David Marshall
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