The cloud has refined the way organizations across the world are doing business. As per a study by Gartner, the public cloud services market was valued at $182.4 billion in 2018 and is estimated to reach $331.2 billion by 2022. Cloud computing has offered a level-playing field to small businesses who can get access to high-end technology, a privilege earlier restricted to enterprises.
The cloud enhances business productivity, operational efficiency, employee communication and collaboration and offers a horde of other benefits to businesses in all verticals. Let’s have a look at the ways in which cloud computing plays a crucial role in business development.
1) Improved Collaboration
Cloud computing allows your business to communicate easily outside the conventional methods. Because a cloud platform allows multiple users to work on and share the data and files simultaneously, it results in better collaboration amongyour employees. The cloud makes it easy for people working on job sites or in different geographies to access work-related information instantly and in a secure manner.
2) Cost Savings
One of the key reasons why businesses switch to the cloud is the cost savings it offers. Services such as cloud hosting allow a business to scale its IT capabilities without incurring high capital expenditure. Because a cloud hosting provider takes care of activities such as the installation of hardware and software, maintenance of servers, license renewal, etc., you get more time to focus on your core activities.
Cloud hosting platforms allow companies to scale up and down with the utmost ease depending on the demands of their business. When your business is showing massive growth, you can easily ramp up your operations through the cloud platform. On the contrary, if you want to scale down the resources, it can also be done easily. It is this operational agility which makes the cloud a highly sought-after technology.
The cloud allows organizations to conduct business on the go, using the device of choice: laptop, smartphones or tablet. Cloud computing platforms such as Google Drive and Dropbox offer 24*7, on-demand services, allowing users to stay updated with the latest information from anywhere, anytime.
5) Data Security
Cloud service providers are required to comply with a host of security regulations to safeguard their customer data. For this reason, they use an array of technologies for intrusion detection that detect and isolate threats from reaching your system. Besides, cloud providers maintain multiple copies of your data, so you don’t need to fret about storing data in hardware devices and machines.
6) Reduced Carbon Footprint
When you move your business to the cloud, you don’t need your data centers or the power to keep your servers up and running. So, in a way, you offload your carbon footprint to your cloud service provider.
A cloud service provider uses economies of scale to provide resources to run your (and other organizations’) operations. As a result, the overall impact on the environment is greatly reduced.
7) Disaster Recovery
Every business, large or small, needs to invest in a robust disaster recovery solution to mitigate the impact of a disaster. Small businesses that lack the requisite budget and skills for disaster recovery depend on the cloud to meet their needs. Cloud-based DR solutions help these companies save large upfront expenditure and harness third-party expertise to safeguard their critical data from unforeseen occurrences.
8) Superior Performance
Cloud service providers need to continuously update their technology in order to meet (and at times exceed) the demands of businesses. As a result, cloud platforms offer high-performing servers equipped with robust CPUs and ultra-fast hard drives.
Besides, cloud providers use load balancing to route client requests in a way that maximizes speed and capacity utilization. So, when the servers are busy, the load gets distributed in such a manner that no single server suffers from performance hassles. In other words, cloud vendors continuously optimize their workload to help you achieve consistent performance.
9) Better Availability
Businesses that rely on applications to conduct their critical operations are particularly vulnerable to downtime. For such companies, the failure of a single server can bring operations to a standstill and getting back online can be both challenging and time-consuming.
The cloud offers respite in such a scenario. Because a cloud environment is designed to deliver high availability and consistent performance, it ensures higher uptime for these businesses. The hyper-converged design of a cloud platform safeguards businesses from an array of issues including server failure, allowing critical applications to remain available most of the time.
The Final Word
Cloud computing bestows a wide range of benefits on business of any kind. The cloud helps you reduce IT infrastructure costs while making your operations more effective and efficient. So, if you still haven’t implemented the cloud, jump on the cloud bandwagon today!