Top 5 Benefits of Cloud Computing

Cloud computing has been around for almost 2 decades and despite the data demonstrating its business efficiencies, cost benefits, and competitive advantages, a sizable portion of the business community continues to operate without it. According to an analysis conducted by the International Data Group, 69% of businesses already utilize cloud technology in some capacity, and 18% plan to do so at some point. Simultaneously, Dell says that companies that invest in big data, cloud, mobility, and security boost revenue up to 53% faster than their opponents. As evidenced by this information, an increasing number of technologically savvy businesses and industry leaders recognize the numerous benefits of cloud computing. However, they also utilize this technology to run their organizations more efficiently, provide superior customer service, and significantly increase their overall profit margins.

Here are some benefits of cloud computing.

Cost Savings

You are not alone in your apprehension about the cost of moving to cloud computing. 20% of companies are concerned about the initial cost of a cloud-based server. Those trying to weigh the benefits and disadvantages of using the cloud must consider more than just the initial cost.

Once in the cloud, easy access to your company’s data saves time and money. Most cloud computing services are pay-as-you-go for those worried about paying for features they don’t need or want. So even if you don’t use the cloud, you won’t have to pay for it.

Security

Many businesses are cautious of adopting cloud computing due to security concerns. After all, how can you be sure files, programs, and data are protected if they aren’t kept secure onsite? 

This is in direct contrast to an in-house system, where an organization must divide its efforts between numerous IT concerns, security being just one of them. This is all very conceptual, so let’s look at some numbers.

Rapid Scale claims that moving to the cloud improved security for 94% of businesses and made government compliance easier for 91%. Encryption of data sent over networks and stored in databases is the key to this enhanced security. 

Mobility

Cloud computing enables portable access to corporate data through smartphones and devices, which is great because over 2.6 billion smartphones are used today. Busy employees or those who live far from the corporate office can use this feature to stay connected with clients and co-workers.

To improve work-life balance, you can use the cloud to provide information to sales staff who travel, freelancers, or remote employees. Not surprisingly, companies prioritizing employee satisfaction are up to 24% more likely to expand cloud usage.

Insight

The adage “knowledge is power” has taken on a more modern and accurate form: “Data is money.” Uncover and act on valuable information hidden in the millions of bits of data surrounding your customer transactions and business processes. 

A bird’s eye view of your data is available with many cloud storage solutions. With cloud-based data, you can quickly implement tracking mechanisms and create custom reports for your entire organization. These insights can help you improve efficiency and achieve organizational goals. 

Quality Control

Poor reporting is one of the biggest threats to a company’s success. A cloud-based system stores all documents in one location and format. With everyone accessing the same data, you can avoid human error and keep track of any revisions or updates. Organizing data in silos can result in employees saving different versions of documents, causing confusion and diluted data.