4 Ways Businesses can Leverage Cloud Computing to Improve Their Bottom Line

Is your business heading to the cloud or are you sticking with physical storage drives? 

For the last couple of years, businesses all over the globe have adopted cloud computing as the latest wave of technological innovation has created new enterprise opportunities and fresh techniques to improve a company’s bottom line. Supposedly, those embracing the cloud are attaining a competitive advantage. 

Industry studies and reports have outlined the numerous benefits that companies are reporting since instituting cloud computing and technology as part of their business model. According to a 2013 North Bridge study, a considerable majority of surveyed firms reported using some type of cloud platform, and this growth has remained consistent with previous research that has suggested the global cloud market would reach $158.8 billion this year. 

Although one of the benefits of utilizing cloud technology is related to cost-savings, industry professionals say if this is your primary objective of inserting cloud computing into your business model then you’re really missing out. According to these professionals cloud computing can allow enterprises to enter new markets, engage with customers in a much more enhanced way and improve overall productivity. 

How can a business know when to implement cloud computing into their everyday business practices. Here are a few things to consider: 

  • How large or small is your technology budget? 
  • Do you maintain an extensive IT support team? 
  • How often do your servers crash on a monthly basis? 
  • Is your workforce tech-savvy and easily adaptable? 
  • What is your company’s computer infrastructure like? 

A lack of tech support, regular server crashes, limited resources and an easily adaptable staff would be some of the reasons to install cloud computing into your office and change the way your personnel perform their daily duties and tasks - remember, your staff can complete their assignments remotely, too. Your bottom line will thank you for it almost immediately. 

How can a business effectively leverage cloud computing to generate greater revenues and profits? Here are four ways heading to the cloud can improve your bottom line and make everyone happier: 

1. BYOD 

Has your firm already participated in the Bring Your Own Device (BYOD) trend that is engulfing workforces everywhere? If so, then you already have an opportunity to use the cloud. Close to all cloud platforms can be accessed everywhere and on nearly all computers, smartphones, tablets and other mobile devices. Rather than allocating or expanding your tech budget on acquiring new technology, urge your team members to use their own devices and log-in to your company’s cloud account and complete the work on this sphere. 

2. Downtime 

As previously inquired, how often do your company’s servers crash on a daily, weekly, monthly, quarterly or annual basis? If it happens at least once or twice a month then perhaps it’s time to consider using the cloud, because this type of consistent crash can create significant downtime and thus diminish productivity levels. Clouds aren’t infallible, but companies cite having less frequent downtime. When workers are working, the technology is working and when the work is handed in your company makes money. 

3. Competitive Advantage 

Let’s face it: not every single business is adopting the cloud, which can be something you can take advantage of. If your major competitors aren’t utilizing the cloud then this can give you a competitive advantage, which could entice new clients, garner greater talent and bring about media attention. The cloud is here to stay and it is going to be a big part of the future. Don’t get left behind. 

4. Business Costs 

The private and public sector report reduced costs because of the cloud. Not only do enterprises save money on staff and technology, but cloud service providers are always in direct competition, which equates to competitive pricing. There is an array of different pricing models for small businesses to choose from, a move that would decrease operating costs significantly.  

Indeed, the office would transform into the latest technological hub, something that could put many people ill at ease. However, the revamping of your office will likely result in higher revenues as long as you employ the proper cloud techniques. Stay on top of the latest developments in this field, train your staff, install heightened security protocols, be positive and your bottom line will inch higher.

Photo by Hans via Pixabay.