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Jeanne W. Ross of MIT Sloan’s Center for Information research articulates, “it’s not only tech that’s transforming, but the technology is also transforming you.” This view has been validated by the massive migration to cloud post-COVID-19, which has reinvented how companies conduct business and handle their clients. To put this into perspective, recently, Microsoft’s CEO said that the company saw a massive digital transformation in only two months, which could have taken almost two years in normal circumstances.
This surge in cloud adoption was experienced globally. In fact, data from Statista shows that about 81% of businesses had at least one cloud-based application within their IT infrastructure by 2020. Companies have so far realized the cloud’s potential in their infrastructure from its flexibility, budget-friendliness, and scalability. Out of the many potential advantages, one critical thing that cloud adoption facilitates is fast business growth.
Cloud is an on-demand service that companies pay for the resources they use monthly. These resources can range from a virtual server, a company network, or other applications such as Microsoft 365. Cloud tech is a game-changer since it has redefined the way we store and share information. You are no longer limited to using a physical device because you can seamlessly access the cloud using any device from anywhere across the globe at high speeds.
Read on as we highlight the different ways in which the cloud can help accelerate your business growth and increase competitiveness within your industry.
Through cloud technology, remote employees can collaborate easily and quickly since everything is centralized and documents get updated in real-time. Employees don’t have to pause work as they await specific documents sent via email like in the old days. Also, you no longer need to keep sending the same file back and forth where you find yourself mixing up original and revised versions. Cloud provides effective collaboration tools that enable the entire workforce to work more efficiently. One significant factor that has led to collaborative success is the shared editing function that cloud-based applications provide for the files they hold.
You can also extend this collaboration to your other business partners and your whole supply chain. Again, you no longer need to keep sending documents to one another. You simply need to streamline the entire supply chain procedure into the cloud, which will also help to reduce operational costs. This will also help speed up business processes, and employees will have more time to focus on customers. As a result, you will increase your revenue and ultimately accelerate your business growth.
Cloud technology provides your enterprise with the ability to mingle across different time zones and geographical parameters to help accelerate your business growth. Better yet, you don’t have to spend a considerable amount of your budget on purchasing new hardware and other resources to try something new.
You can simply experiment on a particular innovation to see if it works with minimal wastage of resources and time. As a result, budgetary allocation is no longer a hindrance to innovation. This makes it easier for businesses to scale up and down. You also have the freedom to get extra resources only when you need them.
According to McKinsey, approximately 71% of tech leaders cited agility in reacting to the rapidly changing customer needs, and 88% pointed to revenue acceleration. If your business suddenly needs about five extra employees, there is a high probability that you wouldn’t have an extra workstation for them to start working immediately. However, if your business is predominantly running on cloud-based services and applications, you can quickly scale up your needs to accommodate sudden changes.
Also, you don’t have to sustain this growth for a specific period. In cases where the project ends before the estimated time, you can still scale down, which means that growth doesn’t necessarily need to have the same planning that you would previously need a sizable budget to support the changes. As such, even if you run a small business, the cloud will make it possible to expand your operations more efficiently.
The recent data protection laws have put more emphasis on IT security. Cloud technology provides a robust solution to protect your businesses against cyber threats and prevents issues that may come up in case hardware is physically stolen or misplaced. Besides, if a machine fails without proper backup, you risk losing data.
By storing your data in the cloud, you don’t have to be concerned with your hardware and software security. Therefore, giving a cloud-based provider the responsibility to store your data means that you reduce the worry of keeping your company and customer information safe. Most cloud providers store similar data in different locations, which ensures that your data is always recoverable.
One of the best and most effective ways that the cloud supports business growth is by improving your company’s technical infrastructure. Typically, organizations rely on a sturdy IT infrastructure to support their business goals. If you decide to manually keep track of all company details in a CRM system, it will be an uphill task.
By streamlining specific tasks while also offloading others through a cloud-based infrastructure, you also improve the productivity of the IT team. This way, the IT department can also focus on other tasks. Businesses also have the flexibility to try out new tools and deploy them.
Cloud technology can accelerate your business growth in various ways, as discussed above. Even small businesses can now scale new heights that were previously only manageable by large companies. At Virtual IT, we collaborate with various companies to help them adopt cloud technology, such as empowering employees to create, share, and edit crucial reports for real-time decision-making from anywhere on the globe. This way, companies can deploy new products and solutions more rapidly, which accelerates growth.
Ready to migrate to the cloud? Contact us to schedule a free IT consultation with us today. We are the leading IT organization in Omaha, Kansas City, St Louis, and Des Moines.