The Top 6 Reasons You Should Start Investing in Cloud
January 14, 2022
Cloud technology has infiltrated every aspect of businesses and operations, and it has emerged as a key component in companies’ digital transformation journeys. 70% of businesses use some form of cloud service on a daily basis, owing to the obvious benefits, and more and more businesses are beginning to understand how they can harness the technology to their advantage. Cision predicts that the global cloud computing market will grow by $461 billion by the last quarter of 2025. This translates to a compound annual growth rate (CAGR) of 17.5%.
Cloud computing is massive and has enormous potential. It enables businesses to more effectively optimise their costs, giving them an edge to thrive amid intensifying competition. However, that enormous potential can also feel intimidating to some companies and tend to turn them away from investing time and resources into really leveraging it to the fullest.
Why Choose Cloud Technology for Businesses?
The popularity of cloud technology among small and large businesses is continuing to rise. We’ve compiled a list of six main reasons why you should start investing in cloud technology:
- Cost Optimization: Reducing or better aligning costs to actual operational need is always critical, regardless of the size of your business. When it comes to saving and cost optimization, one of the most important areas to consider is the reduction of spending on IT resources, software licenses, hardware network equipment, and in-house technicians. Businesses that migrate to the cloud no longer have to pay for costly infrastructure or licencing fees, and it also helps to reduce the cost of maintaining and managing IT systems.
- Tightens Data Security and Privacy: In today’s global environment, every business requires very tight and defined data security and privacy policies; failing to do so could jeopardise not only the company’s future and reputation, but also threaten its financial viability by tying the organization up in litigation. To avoid such disruptive disasters, many businesses are turning to scalable cloud solutions that can better detect malicious hackers and threats, and protect their valuable data. According to RapidScale research, 94 % of businesses saw an increase in security after moving to the cloud, and 91 % said the cloud makes meeting compliance requirements easier.
- Ensures Business Continuity: Being able to maintain business operations after a breach is not only important to the livelihood of the employees, but also the organization’s financial wellbeing. Having your data stored in the cloud ensures that it is backed up and protected in a secure and safe location in the event of a disaster or other crisis. You can quickly resume normal operations as soon as you regain access to your data, thereby minimising downtime and lost productivity.
- Enables Competitive Advantage and Sustainability: With growing technology, it has become imperative for all businesses to become agile and innovative. Cloud technology offers access to world-class enterprise technology that helps any size business compete in the modern business environment and gain a competitive advantage. One of the advantages of cloud computing for SMB’s is it tears down geographic boundaries and allows innovation and creativity to be the differentiator.
- Reliability: Cloud computing uses a well-managed service platform that is far more reliable and trustworthy than internal infrastructure. Cloud technology ensures that services are available 24/7. As a result, the company avoids the need to hire specialized IT personnel or worry about dealing with a server outage, which helps reduce your downtime and improve your overall productivity. In the case of any issues, a cloud service provider can quickly pivot to other servers to host needed applications and traffic.
- Mobility and Remote Work: Many companies around the world have been forced to shift to a fully remote working model due to COVID-19 precautions and safety guidelines. Office interactions were also reduced as a result of the need for social distancing. Traditional technology-based businesses struggled and were unable to make this transition quickly. Those with cloud solutions, on the other hand, were able to quickly pivot and run their businesses from anywhere.
Given the numerous benefits that cloud technology provides to businesses, it is reasonable to conclude that cloud technology is rapidly becoming the new normal. It assists businesses in dealing with future issues such as big data management, cyber-security, and much more. If you have not yet moved to the cloud, now is a good time to do so in order to benefit from a more simple, secure, and advanced solution for storing, managing, and processing data.