Industry Cloud; What is it, why does it matter?

When cloud technology first became widely available, it was very much a generic proposition with a small number of cloud providers providing open platforms on which to build virtualised compute, networks, and storage. From the outset, public cloud adopted a horizontal strategy, designed to operate across multiple industries; Arguably this was vital for the initial development and uptake of cloud services.

However, it has become clear that generic cloud is not suitable for some business with an overarching duty of client care, operating in heavily regulated and compliance led environments. An Industry Cloud Platform may provide the answer, but what is it?

An Industry Cloud is a cloud platform that has undergone extensive tailoring to meet the specialised requirements of a particular industry, focussing on operational, legal, regulatory, security, and other business practises. The emphasis is on vertical integration which contrasts directly with generic cloud computing’s horizontal integration.

An Industry cloud platform should be viewed as a business innovation platform, almost irrespective of the technology. Using a modular component approach increases the ease with which Industry Service Cloud Providers are able to deliver value-added capabilities through multiple software vendors, products, and marketplaces; often adopting technical and business innovations from other industries.

Partners and senior management are beginning to recognise that a Legal Industry Cloud is an intelligent strategy to gain an edge on competition. A well-designed solution that combines software, platform, and infrastructure as a service, should connect applications, models, and users across the entire business, providing a consistent, scalable platform that delivers end-to-end industry specific business solutions.

In conclusion, a legal industry-specific cloud is preferable to the vanilla public cloud because of its direct alignment with the data compliance, standards, and legal requirements imposed by industry regulators, as well as broader legislation. The advantages may be even more pronounced when smaller law firms adopt this route to a full digital transformation.

By focusing on the requirements specific to law firms, a well architected industry cloud will solve the systemic risks that many firms face regarding compliance, regulation, and security; making business operations more efficient — and ultimately more profitable.