Oracle India expects higher cloud adoption among Indian businesses driven by work from home models

MUMBAI: The impact of the COVID-19 pandemic is driving cloud adoption in Indian businesses according to a top Oracle India executive as companies chart long-term plans for work-from-home and update their businesses continuity plans.

“We’ve had quite a few top organizations in their industries moving to Oracle Cloud in the last 2-3 months. These organizations are in the healthcare, BFSI industries,” said Sriram Rajan, Vice President, Cloud (India) at Oracle.

“We’re hearing of CXO pressure on Chief Information Officers, suggesting spends be better utilized to drive core business growth, as opposed to ‘managing IT’. Earning additional revenue, increasing customer loyalty and the like will trigger the need for a more OPEX (operating expense) model for IT – in other words, a cloud model,” he said.

The company said it has seen a double digit growth in India in the last four years. It said it has doubled its customer base in the country from 7500 four years ago to 15000 currently.

The need for data security for companies that are planning a work-from-home model henceforth will drive business for Oracle India, said Rajan.

“The bulk of the CIOs prefer that ideally that security on the cloud is far better than their on-premise systems… So security is steadily becoming an enabler in the cloud equation.”

The company recently signed a multi-year cloud partnership deal with Indian NBFC Manappuram Group to modernize its IT infrastructure, said Rajan. Manappuram group companies will move their databases and applications to the cloud provider in a phased manner according to Oracle.

Commenting on the partnership Raveendrababu B N, Executive Director, Manappuram Finance said, “As we embark on our next growth phase we wanted a secure, modern cloud platform. By moving to Oracle Cloud, over the next 5 years, we’ll be gaining 2X-3X performance improvements in comparison with our current IT setup as well as nearly 30-40% in cost savings.”