As published in https://thefintechtimes.com/

With the global landscape changing rapidly across every sector due to the global pandemic, R. Vivekanand (Vivek), Vice President and Head of TCS Financial Solutions shares his insights into the opportunities and challenges of the SaaS and Cloud market.

The Software as a Service (SaaS) landscape has changed so much in the last 18 months. Triggered by the global Covid-19 pandemic, whatever we predicted would happen in five years has happened in one, with huge changes to the Cloud and its adoption.  

It’s safe to say that now there is pretty much no one out there asking “Why cloud?”. Two years ago many people would have been dragging their feet on cloud adoption, making excuses as to why they haven’t finalised that strategy. But now cloud isn’t a question, it’s a given. Its many benefits are well known throughout the industry, including its cost-effectiveness, and everyone now has to see cloud as an option. If they choose not to take that option they’re certainly going to have some explaining to do, especially to their boards, as to why.

The pandemic really forced the industry’s hand in many ways, as we had to collectively find solutions for what were perceived as problems. For example, data security, speed, bandwidth access from anywhere – these were all issues identified due to lockdowns with the majority of the workforce logging on from home. We had to find solutions for those issues, and we had to do it quickly, so that’s really why the market has seen such rapid expansion. We were expecting a very gradual adoption of cloud across industries over 3-5 years, instead we had an accelerated push of acceptance and adoption over a short period of 18 months. 

Read the full interview here.