It’s a time when high-tech organizations are accelerating the pace and setting new standards of technological innovation. The convergence of business operations coupled with factors, such as increasing production costs, evolving customer demands, and the need to acquire new capabilities quickly are bringing across fundamental shifts in the way organizations are doing business.
As per Gartner, by 2024, organizations will lower operational costs by 30% by combining hyper-automation technologies with redesigned operational processes. With the adoption of 5G and newer technologies such as the internet of things (IOT), artificial intelligence, and machine learning, there is an emerging focus on the digital transformation of organizations’ business models. There is a clear and rapid shift toward smarter products, connected experiences, and service-based business models.
Evolving global context
The transition to smarter products brings new complexities to the research and development process. Some of the critical aspects include design, simulation, validation, and verification of the integrated product. This also includes collaboration and enablement of different geographical teams while maintaining regulatory compliance.
The demand market has increased multifold, both in terms of the number of customers and the geographical outreach. Additionally, the emergence of new niche entrants in the space has redefined expectations for time-to-market of new products and offerings. The market demand and competition have adversely impacted the timelines for defining the roadmap and strategies for differentiation of offerings and extending quality support to the existing customer base. All of these have resulted in the need for new and evolving business models.
Many economic and political challenges along with the pandemic have brought forward an urgent need for organizations to re-balance and diversify their supply chains. The recent chip shortages have caused cutbacks to production levels across several industries, such as the automobile and electronics industries globally. Similarly, US-China trade conflicts have created new risks for organizations and global technology supply chains. OEMs globally have struggled with a much-reduced visibility of their manufacturing operations due to heavy dependence on specific geography for key suppliers and specialized production capacities.
Cloudification of the high-tech industry
Cloud has now become an important aspect of an organization’s business strategy. It helps in optimizing IT costs that are a considerable operational expense. It also enables faster time-to-market for new products, and better service quality and support for internal and external ecosystems, along with regulatory compliances and risk management.
Organizations are leveraging cloud services to reinvent their business models and products through specialized industry cloud solutions and ‘as-a-service’ consumption models. In fact, a majority of the organizations now have multi-cloud solutions to deploy and use the best offerings at their disposal.
As high-tech organizations are highly technology-intensive, the cloud uniquely impacts their product roadmap and strategy. Transitioning engineering operations to the cloud can dramatically accelerate innovation. FinOps help to optimize the cloud consumption costs for operational activities. Cloud-native technologies are empowering organizations to develop scalable applications in public, private, and hybrid clouds along with high-impact production changes optimally. In fact, Gartner predicts that by 2022, more than 75% of global organizations will be running containerized applications in production.
The digital twin technology on cloud helps organizations simulate prototypes and gain insights that help in driving better products, optimize operations and costs, and create breakthrough customer experiences.
High-tech cloud solutions have now become the strategic pillar for high-tech organizations of every size and have moved technology from an ‘enabler’ to the ‘business’ itself. It has the potential to help them to unlock new business opportunities along with transforming their business models and culture. To realize these benefits, there is an imperative need for a robust cloud strategy and not just multi-cloud adoption.
Therefore, it is important to have a strategic technology partner to help organizations navigate and transform through a strategy-led-approach in their cloud journey.
HCLTech Cloud Smart for the high-tech industry
Cloud Smart is the new way of doing IT, engineering, creating and delivering smarter software products, along with building ecosystems and democratizing technologies for innovation. HCLTech Cloud Smart is a forward-facing cloud strategy governed by business objectives.
With HCLTech’s Cloud Smart, high-tech organizations can reimagine their business portfolio through innovative cloud services through smart consulting, smart offerings and industry solutions, smart R&D, smart ops, and smart products.
Through Cloud Smart, HCLTech brings ready-to-consume industry cloud solutions across high-tech industries, such as HCLTech Engage, HCLTech DRYiCE suite, Patient Care Management, Service Orchestration, Near-Zero Touch Operations, Connected Field Service, and many more. These are developed both in-house and through ecosystem partners, along with the power of convergence across IT, engineering services, and industry IPs to help customers maximize their business value and accelerate digital transformation to address business-specific objectives.