Cloud computing is a concept that has gained a lot of traction in the last several years. Simply put, it refers to the ability to store and access information over the Internet rather than a hard drive. It may seem like a straightforward concept, but cloud computing is revolutionizing the way businesses function. In particular, small and medium-sized businesses are using cloud computing to take away the burden of having to buy, execute, and manage the intricacies of an IT infrastructure. Those businesses that take advantage of cloud computing become more competitive by focusing on what they do best. So how can cloud computing impact and improve your business?
Every business wants to make a profit and cloud computing can help make that possible. By outsourcing several IT functions, labor costs and operational expenditures decrease. By taking advantage of an external data center and sharing resources, there is no need for maintaining expensive computing equipment that depreciates and uses a lot of energy for heating and cooling. Another benefit with cloud computing is that your business only pays for the resources it uses which is somewhat similar to a utility bill.
According to a Harvard Business Review report, 57% of the 1500 businesses surveyed, believed that the cloud will give a competitive advantage to early adopters. Why is this? They believe that the cloud will give them the ability to increase business speed and agility, thereby beating competitors to the punch. By utilizing cloud computing, businesses can meet customer demands more quickly than the competition which potentially translates to higher profit margins.
Keeping the IT infrastructure in-house does not mean that data is more secure. In reality, keeping information off-site offers many advantages in terms of security. In the case of a disaster such as a fire or flood, having data backed up offsite helps a business recover more quickly. Cloud providers will be sure to store a cloned version of your data. Hacking is another very real threat when managing an IT department. Cloud providers utilize the latest technology and security mechanisms to ensure data is kept safe. Fully aware that their data centers are targets, cloud providers make security a top priority and will take whatever measures necessary to safeguard business information.
Employees can access data from anywhere at anytime. Many devices can now be used to access data whether it be a phone, tablet, or computer. As long as the employee can access the Internet, business can continue wherever the need rises. A business never has to compromise on productivity. Cloud computing also allows businesses to grow on demand. If the demand for a product increases, cloud computing allows business to scale up quickly. In times of the business cycle where demand is lower, businesses can scale down easily. This allows businesses to adapt quickly and efficiently to any situation.
Effective Big Data Management
Businesses collect large amounts of data and analyze it for trends that give insight into how the company is performing. Traditionally, big data found in large databases has been very difficult and time-consuming to analyze due to the types of storage methods. Now with the advent of cloud computing, there are effective tools for searching and sorting data quickly and easily. Even non-technical employees can take advantage of simple exporting tools without help from a technical expert. The advanced analysis of cloud computing enables companies to react quickly to changes in the market place and adjust accordingly.
At Esker, we are at the forefront of using cloud technology. Our document process automation solutions can change the way you do business. Visit our website to learn more about how cloud computing can improve your business.