As Cloud applications are now the global standard, there is a demand for building vertical industry specific cloud solutions that provide pre-built insights and intelligence, business processes and relevant experiences for the industry. Microsoft has introduced multiple Industry Cloud with Dynamics 365 solutions. This blog is to introduce the Industry Clouds solutions from Microsoft built on the Microsoft Dynamics 365 and Microsoft Power Platform.
Currently there are 4 Industry Cloud solutions available and I am sure Microsoft is working on few more in the pipeline. They are as below.
- Microsoft Cloud for Financial Services
- Microsoft Cloud for Healthcare
- Microsoft Cloud for Retail
- Microsoft Cloud for Nonprofit
Each Industry Cloud has the following -
1. Industry specific functionality - For example the Financial Services Cloud consists of the following -
A unified Customer Profile (Customer 360) app, Customer Onboarding app, Loan Management app Customer Engagement app etc.. The Industry apps provide tailored experiences for both the users and Customers. They help in better collaboration and decision making.
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| Microsoft Cloud for Financial Services |
2. Each Industry Cloud includes specific components - Solutions, Apps, Templates and Services. It also includes data model built for the Industry Cloud. The data model can also be installed as a stand alone solution. For example The Retail Banking data model.
3. A Compliance program for Microsoft Cloud which enables the Clients to measure and control Risks and manage Industry compliance. This also includes specific architectural templates to help in designing and deploying Microsoft Cloud solutions for the specific Industry. An example for Financial Services Cloud Architectural template is shown below.
There is certain requirements that needs to be followed.
1. You need to have the specific licenses before you can deploy the Industry Clouds.
2. There are pre-requisite that needs to be completed and after the Industry Cloud solutions are deployed there are also post deployment steps to be followed.
3. Pricing - Each industry Cloud has a specific pricing template. The price for Financial Services Industry Cloud is approx $20k per Tenant. If you have 1000+ users this is a very reasonable (imho) price for the OOTB functionalities that the Industry Cloud provides.
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| Pricing for Financial Services Cloud |
I would recommend to first do an internal analysis on the business processes and perform a proof of concept testing of the Industry Cloud solution.
The Microsoft Industry Cloud are great examples of how to best utilize Microsoft cloud apps for your specific Industry. They come pre-built with the data model, AI apps and solutions that you can easily test and deploy. I am certain this will help accelerate your cloud transformation journey.
In my future blogs I will explore some of the Industry Clouds and write more about it. Thank you for reading and let me know about your experience with the Microsoft Industry Cloud.
@mihircrm
365WithoutCode
