Is it time for you to make the switch? Well, it appears that Cloud computing and cloud-based solutions are the next evolutionary step for businesses to take. Over the past year, market trends and industry insights have shown an increased adoption rate of the cloud which is having a significant impact on businesses and is causing the market and industry to change. Global Dots stated that the cloud has resulted in a 20.66% average improvement in time to market alone, increased company growth by 19.63% and increased process efficiency by 18.80%. To some these are minor improvements and to others these are the kind of improvements they’ve been looking for and it causes many to ask the question, “why should I switch and what do I get out of it?” There are many benefits that different organizations can get from using the cloud but there are 4 main reasons/benefits which showcase why you should make the switch: Efficiency, Cost Reduction, Scalability, and Data Security. As technology and the IT industry continues to transform and evolve, so do the requirements for companies to operate and the level of competitive advantage that one must have. Solutions have to evolve as well, and it seems that Cloud-based solutions have become the answer for those growing businesses.
Reason One, Efficiency. Cloud based solutions fluctuate and course correct over time allowing for an increase or decrease in cloud capacity without having to physically invest in and change the infrastructure. (Global Dots) Staying ahead of one of the major issues that bogs companies down gives you a level of agility that you cannot normally achieve, giving you the competitive edge.
Reason Two, Cost Reduction. Say Goodbye to buying and maintaining infrastructure and say hello to savings. Historically, it would cost companies an arm and a leg but by switching to the cloud you’re able to reduce cost as its infrastructure and investments are already taken care of for you. Here are just some of the costs that non-cloud business would incur: (DataCenterDynamics)
- Increase operational costs
- Opportunity costs from increased deployment time
- Development costs
- High-priced resources
- Longer development cycles to customize or code solutions
- Infrastructure costs of servers, software, networks, and more
Reason Three, Scalability. Due to the higher performance and cost reduction you are able to scale and compete with larger organizations. You also lower your risk at having in-house operational issues and maintenance. Having high-performance resources at your disposal with professional solutions and zero up-front investment can also help with the fluctuations of market demand. (Global Dots)
Reason Four, Cloud Security. Because of the large adoption of cloud-based solutions, security that is easily deployed, cost efficient, and dependable is of the utmost importance. According to Alert Logic’s Cloud Security Spotlight Survey 2018, 84% claimed that traditional security solutions either don’t work at all or have limited functionality, with 60% claiming limited functionality. With those statistics in mind, the security tools that are available for the cloud are faster to deploy and have saved companies on cost.
It’s evident that there are some downsides to cloud-based solutions, however, the benefits out-weigh the negatives. While cloud computing is in a growth stage in its life-cycle and is somewhat new to us, continuing to change with the times and evolving as a business isn't. Staying competitive means taking risks and making decisions that not everyone might make. Furthermore, being efficient, having a heightened level of agility, saving money and allocating it to other important sectors, and having a secure data environment/workspace can help you maintain a competitive edge.