6 Important benefits of Cloud Computing for your business

Technology is the driving force behind modern business in every industry around the world.

Software products are now available to solve every business problem, usually at low prices and with fast rollouts.

Gone are the days when you needed to employ in-house developers to create your own software or run expensive, long-term projects to implement off-the-shelf products.

Cloud computing technology may not be a new concept, but business leaders are now starting to adopt it in greater numbers.

If you’re still on the fence about whether or not you should migrate your processes to the cloud, here are six significant benefits of cloud-based platforms to help your small business thrive.

Improved financial management

Almost every company in the world has the same goal – to maximise profits and minimise expenses.

What might seem like a straightforward path to a clear objective quickly turns into a long and winding road that requires you to manage your revenue streams meticulously whilst controlling costs.

With cloud-based services such as Xero, Quickbooks or Sage, financial management can become a less stressful task.

Cloud technology might even help you solidify your financial standing in the competitive industry.

Reduced costs

Being an on-demand service, cloud computing allows you to optimise your budget by only paying for features and sub-services that you need, making it a cost-effective solution and the best way to minimise the expenses of an in-house IT department.

Migrating to the cloud means that you can eliminate your on-site data centre and thus remove the associated costs.

Boosting digital transformation

In this digital era, there’s really no need to keep jotting things down on paper.

In fact, many companies are working hard to create a paperless office where everything is handled using smart technology to maximise efficiency, boost collaboration, and make the lives of employees easier.

Cloud computing can help you achieve the goal of a paperless workplace, but its broader application will boost the digital transformation across your company.

The key objective here is to reduce manual tasks and minimise the risk of human error by equipping your team with the features and tools they need to do their job efficiently and effectively.

Your team members can easily sync-up all of their devices to your company’s cloud and thus create one big collaborative hub that thrives on timely communication and the exchange of important business data.

Faster software development and delivery

The cloud platform allows companies to develop in-house solutions faster through improved collaboration and innovative features.

DevOps is the hold grail of development efficiency as it allows development teams more autonomy to automate tasks - removing some of the bottlenecks associated with a traditional software development process.

DevOps is easier to achieve using the flexibility of cloud solutions and allows companies to unlock the true potential of their development teams and operations managers.

Ultimately, this shortens the time to market and minimises financial waste.

Managing your team better with cloud-based HR software

There are compelling benefits to using cloud-based HR software and apps to keep your team organised. With more businesses settled into remote work, the challenges of communicating are easily overcome with software that travels with everyone.

Taking leave management systems as an example, many businesses still juggle their team's time off with a spreadsheet or other manual process that is ultimately inefficient. Managers and staff find that they cannot plan their schedules with the certainty that records are accurate. Software that is accessible to staff 24/7 in any location quickly becomes an essential communication tool.

Leveraging the cloud’s scalability

The goal of every small business is to expand its operation, if only a little, in order to generate more profit and solidify its position in its industry.

To achieve this, you need an IT infrastructure that can scale with your expanding business.

This is no mean feat, and traditional in-house IT infrastructures will seldom scale in the way you hoped nor be cost-effective to replace. Cloud-based infrastructures operate on a 'pay as you go' approach, making scale easy and cost-effective.

You simply pay for what you use, which means your IT infrastructure costs grow with your business.

Data security and backups

In an increasingly volatile online world, hackers and scammers are constantly trying to breach corporate security measures in order to snag valuable business and customer information, compromising data security.

You mustn’t allow a cyber-attack to breach your defences if you are to preserve your brand’s reputation and standing in your industry, which is why you need to consider migrating to the cloud.

Cloud technology brings the latest in cyber-security measures to the table, which means better data protection and timely data recovery. Your business can also benefit from becoming Cyber Essentials certified to ensure that all devices that are being used by your team are meeting the current security and privacy standards. This certification can be obtained by businesses of any size.

This could save your business in a digital world.

Wrapping up

Cloud computing is quickly becoming the foundation of business success in a tech-driven world.

This is why small businesses should consider migrating to the cloud in order to build their competitive advantage.

With these reasons in mind, what's stopping you?

FAQs

How can I ensure the security of my data when using cloud-based platforms, and what measures should I take to safeguard sensitive business information from potential cyber threats?

Ensuring data security in the cloud involves implementing robust measures such as encryption, access controls, and regular security audits. Choose a reputable cloud service provider that prioritises data security and compliance. Additionally, adopt multi-factor authentication and keep software and applications up to date to enhance data protection measures.

Can you provide examples illustrating how small businesses have successfully implemented cloud computing to achieve improved financial management, reduced costs, and enhanced scalability?

Small businesses have leveraged cloud computing to streamline financial management through platforms like Xero and Quickbooks. Cloud-based HR software adoption has allowed efficient team organisation, especially in remote work scenarios. Success stories often highlight cost reduction by eliminating on-site data centers, boosting collaboration, and achieving scalability through the pay-as-you-go model.

What considerations should small businesses take into account when choosing a cloud service provider?

When selecting a cloud service provider, considerations should include reliability, data center locations, scalability options, and the provider's track record in security and compliance. Assess the flexibility of the chosen cloud solution to adapt to specific needs. Potential challenges during migration include data migration complexities, staff training on new systems, and ensuring compatibility with existing IT infrastructure. Addressing these challenges proactively contributes to a smoother transition to the cloud.