2020 was scheduled to be the start of security business and Cloud Box had the right opportunity to kickstart this because of the demand from customers.
Cloud uptake has definitely increased in 2020 as it has become the primary platform for enabling digital transformation for enterprises during the pandemic. Over the last six months, they have accelerated their cloud adoption journey and other digital transformation initiatives. Being agile on a digital platform is now understood to be the minimum requirement for business survival in the months and years ahead.
Business executives are using public cloud applications as it gives them flexibility of working anytime and anywhere, and are using private cloud for mission critical data and operations. With the large-scale increase and emphasis on digital transformation in the post-pandemic workplace, threat, risk, and vulnerability levels, have also increased across enterprises. This is also an opportunity for the security business.
The year has been one that has taught us well about so many aspects which we took for granted and also spearheaded us into dealing with unfamiliar situations. But what has also transpired is that Cloud Box were pushed into the direction where Cloud Box had to be doubly sure that Cloud Box maintained consistency in its services despite the environment. Besides, Cloud Box had to think on its feet and build its set of offerings that were the need of the hour and gave us the platform to launch its security services.
Cloud Box had anticipated a rise in artificial intelligence and machine learning where organisations are working towards their digital transformation goals. The initial part of the year was a bit slow when it came to digital transformation due to the pandemic. The sudden change in the need for remote working was a bit of an IT challenge initially not just for us but also for clients. Cloud Box were in a strong position to overcome this need. Like most businesses Cloud Box also were impacted by the depleting cash reserves due to the slow-down in payment collections.
2020 was scheduled to be the start of its security business stream and Cloud Box had the right opportunity to kickstart this offering because of the high demand by our customers. Cloud Box also saw an increase in its SAP solutions offerings.
2020 has been a year of challenges with unexpected cracks and highlighted business vulnerabilities. The biggest learning is in accepting these challenges, taking risks and more importantly on the need to be agile across the board. Business will never be the same and Cloud Box have to work towards a different future than the one Cloud Box anticipated and must therefore be focused on innovation and the ability to take risks.