10 Benefits of Cloud Computing for Small Businesses

cloud servers

Every business owner wants their business to run in the smoothest way possible. On top of the management of the day-to-day operations, owners also have to juggle emails, video conferences, documents, account bookkeeping, data, and more.

You need a tool that allows you to level the playing field. Cloud computing services not only solves a wide range of these issues but is the very answer to the challenges of small business management. According to a survey by Gartner, up to 60 percent of organizations will use an external service provider’s cloud-managed service offering, which is double the percentage of organizations from 2018.

If you’ve been wondering whether it’s time to make the change and move your data to the cloud. Yes, it is. Now is the time to adapt to the latest technology before you’re left behind.

So what exactly is cloud computing, and how can it help you and your business?
We’ve listed 10 reasons why small business cloud computing can help your organization become more efficient and grow a competitive edge.

What Is Cloud Computing?

Cloud computing is an on-demand virtual pool of IT resources; servers, database, storage, software, analytics, and more, offered over the internet.

Instead of paying for and downloading many applications for different uses stationed on one device at a time, cloud computing gives access to all applications as long as the user has access to the internet.

Types of Cloud Computing Services

Not all cloud computing services are the same, nor do they have the same functions. Some uses of cloud computing are 

  • Data storage and backup
  • Audio and video
  • Data analytics
  • Data intelligence
  • Email and document applications

Owning a small business means determining what best fits your business and which service offers the right solutions for your problems.

Benefits of Cloud Computing

There are a growing number of reasons why your small business would benefit from cloud computing. With all web-enabled devices used in today’s environment, access to data should also be easier. Below are 10 important benefits to consider

1. Cost

Before subscription services became the model, Cloud computing software was a costly buy with no guarantee on ROI (return on investment) for many small businesses.

Cloud computing is now cheaper, with various pay as you go bundles which can scale up or down depending on which company you decide to work with. Companies investing in the cloud experience a 400 percent ROI. This is an investment worth looking into.

Cloud computing also eliminates the cost of software and hardware setup, running in-person data centers, round-the-clock electricity, and hiring IT experts to manage the infrastructure. Cloud-based solutions for small things such as emails or web conference software reduce the startup cost for small businesses.

2. Speed

Setting up cloud computing services takes mere minutes to hours (at most). You can buy most of this software online and they are easy to work with.
The benefits of speed also come into play for file access control. No need to fax important documents back and forth when every employee has access to it over the cloud

3. Productivity

As mentioned before, cloud computing resolves the issues of installing hardware and software. Not only is this a great way to save money, but it removes the need for other minuscule IT chores. This allows more time to focus on more business-oriented matters.

Cloud computing databases not only increases management productivity but productivity for coworkers as well. Employees can share emails, documents, videos, and more while at or away from the office. Simply put if you have access to internet connection anywhere in the world you can get to work.

4. Reliability

Losing data is the biggest nightmare for any business model. It’s not only time costly, but it’s also very expensive.

Many studies have shown that 60 percent of small businesses that lose data will shut down within six months.

Cloud computing makes data backup and data recovery easier and cheaper. It stores all data on the provider’s network and is accessible at any time. Service providers also offer different recovery options in case of said breach. You can choose these safety plans on the type, and size of your data as well as the probability of a likely hack.
Investing in cloud storage as data backup alone is very ideal for small businesses.

5. Security 

Many cloud providers also offer cloud security as part of their network plans. These policies, controls, and technologies strengthen your data, your customer’s data, and company infrastructure from any kind of breach.

With cloud computing, file sharing is done through professional software which improves the integrity of your data and reduces the risk of cyberattacks. Cloud computing also secures data storage. Saving data on the cloud instead of in-person reduces the risk of physical theft.

62% of all data breaches are caused by malicious or criminal attacks and small businesses are targets of these attacks because of naivety.

6. Performance

Software updates are a thing of the past with cloud-based services. Once bought and installed, you’re guaranteed to be using the latest and most efficient computing software.

Updates are installed in ways that will never hinder the work or data you have on file. This saves your time and reduces labor that would otherwise be used in keeping track of updates.

While the performance of the software matters, the performance recorded in data analytics is as important. A lot of cloud services offer built-in data analytics features. This lets you analyze multiple sets, come to proper conclusions, and make informed business decisions.

Cloud computing is a proven tool to help you analyze and streamline the performance found from your data.

7. More Office Space

Every square foot of rented space for your small business counts. Cloud computing allows you to use the largest amount of office space that you can as it is based online.

On-site data servers need tons of physical space so that they can be kept cool and safe. The space that would be repurposed into a server room could be used in different capacities to help another aspect of your small business.

8. Collaboration

When employees can access their work anywhere in the world, they can do more work and do better work. Cloud-based work allows for team members to share, give criticism, and update each other in real-time.  Cloud services offer improved access to larger files, better brainstorming, improved organization, and higher participation levels.

Remote work is an easier option, and team members are held to a higher level of efficiency.

9. Scalability

“What if my business isn’t big enough for cloud computing?” Whether it’s you, or ten people, or a hundred, cloud computing is a necessary part of your business. 

Vendors offer packages for freelancers and owners of sole proprietorships to big developed companies. Solo cloud-based starter packages usually include; invoicing, expense tracking, and reporting while bigger packages from accounting, to email to bookkeeping software.

Growing companies can access cloud computing as well. It’s very cost-effective to add new user accounts on a cloud network and remove them when they’re no longer of use.

10. Competitive Edge

When it comes to a competitive advantage business intelligence is what’s in. A small business that has its hand in the cloud computing world can compete with much larger businesses. 

They can make more money that can be invested back into more important parts of their small business as well as using the time to invest in new opportunities that push against the grain.

Adapting and taking advantage of resources that different cloud software offer is key to standing out in a congested market.

How Important Is Cloud Computing

Cloud computing services are not all or nothing. Even if you already have access to an IT staff or if you have nothing at all, you can pick one application that you think would be better served in the cloud. It is currently considered one of the most important methods of delivering information.

No business, not even the largest are safe from the dangers of data loss, hackers, or the other repercussions of ignoring the benefits of cloud computing.

Cloud Computing for Your Small Business

There are various cloud computing solutions for small businesses of any budget. Gone are the days of building expensive internal databases or downloading expensive software on each computer.

Today cloud computing makes it easy for people, small businesses, and corporations to use resources and communicate with team members.

From cloud computing to other trends in business, finance, and technology, don’t forget to take a look at our blog for all the latest news and know-how from our business network.