All you need to know about interworks.cloud and the cloud industry
Cloud Commerce Platform: Do You Really Need One?
The global managed IT services industry is predicted to be worth approximately $274 billion by 2026. This growth has renewed interest in Managed Services Providers (MSPs) and the benefits they can provide to enterprises. However, MSPs are finding the current business landscape to be a challenging one. Almost a third of MSPs find acquiring new customers a major challenge and competition from other service providers is a cause for concern for 38%. As a result, MSPs have begun expanding to more territories or introducing new vendors to their portfolio.
However, these expansion strategies come with operational challenges of their own. Inefficient processes, an increasingly demanding clientele, and a saturated marketplace can make it difficult for MSPs to run their business effectively. To overcome these challenges, MSPs must adopt efficient and automated processes to simplify operations as far as possible. Cloud commerce platforms can help in this regard.
What is a cloud commerce platform?
On our glossary page, we have defined a cloud commerce platform as a system that enables “vendors to sell their products, solutions, and services digitally.” This typically happens through an online store or application that can be accessed from most connected devices, such as smartphones or tablets. Cloud commerce platforms are quickly becoming the preferred way for MSPs to deliver and manage an increasing number of services and solutions.
In this competitive environment, MSPs must identify areas of potential growth and meet shifting market demands. A report by Deloitte revealed that this growth exists in the cloud marketplace, with cloud spend outweighing overall IT spend in most major enterprises. Cloud service providers are meeting this increased demand with a variety of solutions for different businesses. MSPs offering services that bring value to different industries and businesses stand to gain the most from this increased spending.
However, this demand has also led to increased competition among MSPs and the cloud commerce platforms they use. It is essential to choose a platform that is well recognized and has a proven track record of success. Listed among the top 10 companies leading the cloud revolution in 2021, interworks.cloud is proud to be part of that success.
Selling, implementing, and managing recurring cloud products is extraordinarily complex. MSPs must manage multiple products, subscription models, price strategies, taxation, security, and other operational concerns. As MSPs expand across more territories, they must also learn to manage multiple currencies and languages. Cloud commerce platforms allow MSPs to simplify the entire billing process and simultaneously reap the rewards of a recurring revenue model.
An effective cloud commerce platform offers operational benefits to MSPs and improves the experience for end users. End users can easily access and purchase a customized stack of services that best suit their needs. A cloud commerce platform can help MSPs deliver a seamless and consistent experience regardless of their service provider of choice. interworks.cloud’s platform delivers all this while seamlessly integrating with existing business systems, making it easy for MSPs to improve operational processes without disrupting the client experience.
Choosing the right cloud commerce platform
Cloud commerce platforms are the gateway that MSPs use to display, deliver, and maintain products and services for their customers. This means that choosing the right platform partner is crucial for long-term success. Here are four things you should look out for when choosing a cloud commerce platform.
1. The ability to easily create and update your cloud product catalog
As cloud spend increases, service providers are likely to expand their offerings to meet this heightened demand. Cloud commerce platforms must empower MSPs to quickly deliver top-class products from major vendors while allowing you to fully integrate these services into a seamless purchasing experience for your customers.
2. Flexibility that lets you scale your business as needed
Emerging markets and new territories offer MSPs an opportunity to offer their services in less saturated markets and reach more clients. Your cloud commerce platform should make that expansion easy, allowing you to scale your business by managing trials and paid subscriptions across multiple currencies, languages, and taxation systems. Automation lets you take this a step further by simplifying the systems through which you offer your subscriptions.
3. Features that enable effective vendor management
interworks.cloud offers an extensive catalog of vendors that can help you offer services to your customers. A cloud commerce platform should go beyond providing access to these vendors and allow you to reconcile billing and invoicing issues directly with the vendor. With our solution, you can also choose to automate such processes.
4. The right fit with the services you offer and plan to offer
An effective cloud commerce platform adapts to you—not the other way around. This is why interworks.cloud offers a vast marketplace that is constantly expanding and evolving with the industry, as we have done recently with Microsoft’s new commerce experience.
With the right cloud commerce platform, MSPs can deliver seamless and intuitive customer experiences. As more cloud services are made available, customers need an easy way to browse, compare, and purchase the services that best fit their needs. An effective cloud commerce platform also improves operational efficiency by automating low-value tasks and simplifying transactions across currencies and languages.
Learn how you can use interworks.cloud to improve the way you deliver cloud services to your customers. Book a live demo with interworks.cloud today.
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