Last Updated on May 20, 2021 by MoneyVisual
Without any doubt, cloud technology is emerging as one of the hottest tech for businesses of all sizes. The real challenge to the adoption of these solutions, however, stems from the lack of awareness.
While the small companies may be dicey because of the cost of its implementation, the bigger enterprises may be apprehensive about the benefits of switching to the new setup rather than continuing with their established IT departments and current equipment.
But the recent developments in the coronavirus pandemic have made it absolutely necessary to understand the value that cloud solutions can serve.
Essentially, the technology provides IT resources on demand which help the business get everything it needs without any major infrastructural investment. Additionally, the organization also gets access to the most innovative software applications that have the potential to make it more productive and Agile.
These are just a few benefits that this innovation offers. If you scratch the surface and look beyond, these solutions have immense potential. Let us unfold the most amazing money-saving benefits of moving to the cloud.
Benefit #1: Extensive Saving on Hardware Costs
The move to the cloud can drive a significant reduction in hardware cost. The vendor looks after your hardware requirements, thus eliminating the need to buy and maintain expensive in-house equipment.
For example, a company that wants to modernize its contact centre solution can make an easy switch to cloud telephony without investing a fortune in new hardware and infrastructure. Moreover, the move can be super-quick as well because there isn’t any installation or setup involved. Apart from this, the off-site hardware also reduces the power costs and conserves space which can translate into massive cost savings in terms of smaller energy bills and rental savings respectively.
Benefit #2: Minimal Capital Investment
Cloud solutions can be availed on a subscription model, which means that you pay-as-you-go rather than make a major capital investment for your organization beforehand. The subscription model is certainly a smarter choice because it unlocks flexibility.
Firstly, you need not pay for the resources that you are not utilizing. Secondly, there is no need to be tied down with the expense if you no longer require it at any point in time; you have the freedom and flexibility to cancel a software license any time if you don’t find it worthwhile for your company.
Additionally, the upfront cost of cloud-based resources is far lower as compared to that of in-house solutions. This makes it ideal for startups that require top-tier products but cannot afford them due to lack of immediate funds.
Benefit #3: Optimal Maintenance Costs
Maintenance cost also gives cloud technology an upper hand in comparison to traditional in-house technology. Cloud systems eliminate the need of a business to spend on hiring, training and retaining an in-house IT team since the hardware is owned by the service vendor and stored in their off-site location.
It is the vendor who has to bear the responsibility of repairs, upgrade, and maintenance of these assets. Even if you do decide to have an IT team on board, they are freed up from the routine maintenance tasks and can focus on tasks and initiatives that are critical to business development. For those who don’t have IT, staff, there can be considerable savings in terms of third-party hardware repair and maintenance bills with this technology.
Benefit #4: Enhanced Workforce Productivity
Higher workforce productivity translates into lesser wastage, which is an obvious cost-saving advantage for any business. First things first, the deployment of cloud technology is much faster than any conventional installation. In fact, you can expect it to be done and have a system up and running within hours rather than in weeks or months. This fast installation is an attraction for employers as no business function is put on hold due to this transition and employees need to lose any of their precious time.
The adoption time of cloud solutions is minimal as well, which is another reason it renders high workforce productivity and is becoming first choice of employers. Additionally, a majority of cloud applications and storage solutions are easily available anywhere and only require an internet connection to access them.
The remote access capability of cloud technology is yet another lucrative feature which further strengthens its argument. The remote access feature has been widely accepted in the times of corona pandemic and is expected to stay in the list of business add-ons in the future as well, helping businesses stay functional in the times of any such future adversities.
Benefit #5: Innovation within Budget
Cloud technology makes it conspicuous that innovation need not cost a fortune to a business. Embracing innovation is much beyond just adopting the latest technology; it is more about how you leverage it for streamlining your processes and unlock its benefits effectively. This is exactly what the cloud is capable of; it can deliver convenience, accessibility and affordability while unleashing the potential for innovation for an organization.
Mobility is an innovative use of the technology that you cannot ignore when it comes to cost savings. Switching to new locations has become the new normal of modern businesses with a rise in co-working spaces. However, it would be ruinous to let this hinder your business functioning. A cloud system is life savour in such situations as with it this transition is nearly seamless. Innovative marketing techniques using cloud technology are also tightening their grip in the modern world of marketing.
Benefit #6: Cost-Effective Security Assurance
Cyber security is one of the biggest concerns for businesses of all sizes and scales, thanks to the growing number of incidents of hacking and data breaches. With cloud-based solutions in place, you can rest assured about data security, without toppling your IT budget. These systems constantly backup business data and also provide security assurance against data theft and natural disasters.
The best part about cloud technology from the security viewpoint is that data is not physically stored. Since you will not have to stress about viruses and hackers, you can focus on the core operations. Cloud technology not only saves your pocket from the burden of such security breaches but also provides best-in-class security measures to ensure data safety.
Benefit #7: Resilience without Redundancy
If you choose to manage your own servers and infrastructure, there is always a risk of having redundant systems as a part of the disaster recovery plan. You may even have to duplicate certain critical servers and systems, which will be essential without being worthwhile.
This practice can be time-consuming and stressful, while costs can quickly add up. With a cloud service provider, you can rest assured that your data and applications are safe and are kept in multiple centres to not let any disaster hinder your business. Since redundancy and disaster recovery are a part of their subscription services, you can save up your time, effort, and money on backups.
Save While You Spend!!
Considering the extensive cost savings that cloud technology can drive, it becomes a worthwhile investment for any business, regardless of its scale and size. The truth is that you will end up saving thousands with just this one change. Taking full advantage of technology while saving money sounds like every employer’s dream.
Cloud technology is helping millions of business owners make this dream a reality. What are you waiting for? Give your business the push to the clouds it needs and watch it grow while you make huge savings.