A growing number of businesses are using cloud computing to run their operations. In fact, usage of cloud computing has increased 20 percent over the last two years. This technology allows smaller businesses to grow and compete more effectively against larger competitors. Below are five ways cloud computing is changing the way companies do business.
It Will Help Your Firm Expand Into New Markets
Cloud computing can allow small to medium sized businesses to enter new markets which were non-accessible in the past, because it automates processes such as financial reporting and the delivery of schedules, which leads to staffing costs that are streamlined.
Cloud computing also integrates customer relationship management, e-commerce and enterprise resource planning into a single entity, which eliminates manual data entry while creating greater efficiency. Cloud computing makes it easier for companies to export their products overseas because the cloud platform will cater to foreign compliance and currency regulations automatically.
It Allows You to Work Anywhere, Anytime
Many companies have employees who frequently travel worldwide. These employees may need constant, real time access to all the company’s most important clients. Cloud computing allows this; strengthening the relationship that these firms have with their customers. Not only are lead conversions increased, but the productivity of employees is also greatly enhanced.
It Allows Firms to Identify Trends Faster
Those firms which are able to identify trends faster than their competitors will have the edge. Because cloud computing combines its key operations into one system, this allows a firm’s management team to see business trends quickly and more accurately determine how well they performed. Because of the increased efficiency generated by the cloud, revenues will grow because the sales department will be able to handle a greater number of leads.
It Makes Mergers and Acquisitions Easier
Traditionally, mergers and acquisitions could take months, perhaps years to transfer data from one place to another. In some cases, it simply never occurs. Many government departments also have this problem, and some organisations still move information manually. With cloud computing, the data transfer can be done much faster. The end users of the two organisations which have been merged will quickly be able to access the necessary data via the cloud system.
It Allows Greater Flexibility for Trying New Things
Time and cost are the key reasons why many businesses find it difficult to try new things. For instance, creating and testing a new line of products can be both expensive and time consuming. However, with on-demand cloud computing a firm can have a fresh configuration running within hours or even minutes, which will reduce the time. In the same way that a progressive dialer cuts down the time of phone calls, cloud computing also helps to reduce time and costs; a user will only pay for the time used, that reduces the cost. This allows both small and large enterprises to experiment and innovate, the cornerstone of building and maintaining a successful business.
When you combine the above benefits with scalability, reduced costs and bursting, it becomes easier to see why more companies are turning to cloud computing to make their operations more efficient, and ultimately, more profitable.