Last Updated on May 4, 2022
I still remember exchanging floppy disks with my fellow students. Losing those little squares meant a loss of all the hard work we did on our projects. Fast forward to this day, and we are saving documents on an invisible network. If this isn’t the advancement of technology, I don’t know what is!
Nearly everyone these days is using some cloud service. From photo sites like Flickr to websites like Gmail and music streaming sites like Pandora, remote data storage and software usage are normal.
The corporate world must begin to reap the rewards it has to offer. It is the future of computing. This is where the world is going. And those on the forefront shall become leaders sooner or later.
What Is Cloud Computing?
In today’s dynamic business climate, entrepreneurs need data at their fingertips. Regardless of the time and circumstances, the need for accessible data is unavoidable. Cloud computing provides access to information wherever they find an internet connection.
Uses of Cloud Computing
Cloud computing is an umbrella term for various services. These include:
- Cloud Backup: Cloud backup is the failsafe solution if your company experiences a cyber-attack, server crash, or other types of data loss.
- Cloud Storage: These services backup your files and store them for regular access. You can also sync and share the files across multiple devices.
- Cloud Hosting: Hosting solutions facilitate different types of info sharing. These include application hosting, email services, data storage, and web-based phone systems.
- Software as a Service: SaaS solutions use the web to serve the users. Examples of SaaS include Google Apps, Quickbooks Online, Google 365, and Salesforce.
A cloud solution can handle several business tasks such as file storage and web hosting.
If you are still stuck on why your company should adopt cloud-based business software, we are here to clear the fuzz.
This list provides four ways cloud-based software can help a business:
1. Improved collaboration
Working on the cloud makes it easier to share information with teams, coworkers, and clients. It helps for greater collaboration, particularly for companies with remote employees. IDC predicts that 67% of enterprise infrastructure and software will cover cloud-based offerings by 2020. The figure shall grow in 2021 and beyond.
Teams in different locations can collaborate using cloud-based software. They are no longer required for email attachments, share task sheets and calendars with coworkers. Participants have to sign up for services and access the shared program using the Internet. There is no need to install or download a particular program. Employees can also connect via video conferencing applications and conduct impromptu meetings.
Some cloud-based software enables the executives to include vendors and customers in virtual discussions. This helps to debate better and share valuable information.
2. Cost Efficiency
Cost is one of the fundamental reasons why companies are now opting for cloud-based software. It helps you cut costs on many fronts, including power, software licensing, cooling costs, maintenance, and upgrading expenditures.
There is a multitude of options when it comes to cloud computing software adoption. The business model in this system is pay-as-you-go. You can opt for the best small business accounting software or a web-based document-saving app. This is a flexible approach and brings enormous saving opportunities for the companies.
Your company can use surplus money on further resources. This system makes a company only pay for the services they are using. The cost is usually based on a per-user basis. There is no need to worry about ineffective software because you can cancel it anytime.
According to the Small Business Administration (SBA), around 80% of small businesses survive the first year. Most of the 20% fail due to financial limitations. You can keep your company at a safe margin by investing in cost-effective options like cloud-based software.
3. Secure Data Backup
The new digital wave has escalated the risk of cybercrimes. Cybersecurity Ventures expects global cybercrime costs to increase by 15% per year for the next five years. Small companies are at a higher risk of cyberattacks, which has made entrepreneurs wary of the IT developments. Entrepreneurs must know all about phishing and other such procedures to avoid them.
On the other hand, cloud computing ensures optimal data security. These solutions provide a certain level of control to the third parties. But they are staying on their toes to secure your sensitive data.
Cloud systems help to encrypt the data, keep it in a secure central location, so there is no impact when the hardware is compromised. With encryption, malicious entities cannot access your data. You don’t have to worry about the stolen information, leading to losing clients’ confidence and business partners.
As per Vormetrics, 85% of enterprises are storing sensitive information in the cloud.
4. Improved Productivity
Cloud technology aims to meet the growing societal and client needs. Improved productivity is guaranteed when a business starts using private cloud-based software. This storage enables a company to customize its data distribution.
As mentioned, cloud computing software has enhanced collaboration among remote workers and company partners. It has an assortment of tools that make working simpler. Employees tend to have a more excellent partnership and connectivity.
The installation of cloud software is fast and effective. The workers can spend quality time working as soon as the system is operational. Along with this, companies can use cloud software to help scale up and down and ensure maximum performance under heavy loads. Cloud technology also minimizes downtime and increases website speed.
According to Forbes, spending on cloud computing has grown 4.5 times the rate of IT spending since 2009. It will increase more than six times the rate of IT spending from 2015 till 2020 and beyond.
If you are unsure of what it means to adopt a cloud-based setup, there are many examples out there to inspire you. Look at how notable names like Kroger and General Electrics use cloud-based business software to make their operations successful.
We hope to find your company name in one such list soon. Good Luck! ☺