New technology is often viewed with suspicion. Virtual reality, for example, was once considered an expensive fad that would fall out of fashion – just check the media from the 1990s. Today we know it’s much more than that. The same can be said about cloud computing and its implications on businesses worldwide. The widespread adoption of cloud services is changing how businesses operate and enabling them to become more efficient.
1. Better Employee Collaboration
It’s an unfortunate fact that many employees feel they’re overworked, underappreciated, and don’t have enough support from their employers. This can negatively impact employee retention and productivity, with it being estimated that businesses could lose as much as $550 billion a year in productivity due to employee stress. Despite efforts to improve employee wellbeing and support, businesses still struggle with maintaining a healthy work-life balance. This is particularly true in industries where workers are required to travel a lot, work in different time zones, or work remotely. And yet, despite the fact that businesses are struggling with this issue, collaboration technologies have not advanced at the same rate as other technologies. Collaboration tools and platforms are notoriously difficult to use and don’t offer the level of support that businesses need. This may be about to change due to cloud-based collaboration tools that offer businesses a single platform for managing communications, customers, and partners. In short, collaboration is quickly becoming more streamlined and user-friendly, offering businesses the support they need to improve their work-life balance and keep their teams working more productively.
2. Cloud Computing is Making Businesses More Mobile
It’s been predicted that the number of mobile workers will rise significantly over the next two years. One of the biggest benefits of cloud computing is that it enables businesses to maintain their operations, even when they don’t have a physical presence where they currently are. With a cloud-based business intelligence solution, employees will have instant access to the data they need, when they need it, from wherever they are. Mobile employees will be able to complete their work remotely, without the need for an onsite server or computer, and without the need for IT to set up or maintain remote access. Businesses will also be able to store sensitive data in the cloud, rather than employees storing it on their own devices. This will help to protect the data from being misused or falling into the wrong hands. Businesses can even utilize the cloud to store data securely in different regions, helping them to overcome the challenge of maintaining data privacy when working with partners, customers, or suppliers across different jurisdictions.
3. Cloud Services Help Maintain Data Security and Protection
If you’re considering switching to cloud computing, you may be worried about the security of your data. Truth is, there’s more you can do to protect your data, wherever it is. First, cloud providers offer data encryption as standard, making it far more difficult for third parties to access and misuse sensitive data. These providers can even automate the process of encrypting data, so it’s done when data is uploaded. Businesses can also implement controls for data access, helping them to control which employees have access to data and when. And if you’re concerned about whether the cloud provider can maintain the same level of data integrity as your own data centre, you can always test their resilience.
4. Cloud Storage Allows for Faster Data Processing
As businesses rely more heavily on data, they also have to consider how long it will take to process that data. Some industries, such as financial services, are heavily regulated and are required to ensure data is processed quickly and accurately. For these types of businesses, transferring data to the cloud and utilizing cloud-based processing speeds up the data processing process. For example, let’s say your business is required to process credit card transactions in real time. In order to do so, you’re required to maintain a high volume of data, including the time and date of each transaction. Businesses that rely on a centralized database to store this information may run into trouble. As the volume of data increases, the system may become overloaded, causing it to crash. This can lead to a significant number of customers having their transactions declined. Businesses that choose to process transactions on a centralized database are also required to maintain a high level of performance. This means they must hire additional employees to process the volume of transactions, and they must keep the database up to date. Businesses that choose to utilize the cloud are able to store this data in a centralized database that is scalable and can easily be expanded as needed. This means they don’t have to worry about the data being too large to store or being processed quickly and accurately.
5. Cloud-Based Apps Are Becoming the Norm
For many businesses, the traditional software applications they use, such as CRM or ERP, have been around for many years. And as old technologies are replaced by new ones, businesses are often slow to update their systems. Even after businesses have decided to switch to cloud computing, they may be slow to transition to newer cloud-based applications. In some cases, these businesses may have outlived the functionality of their existing apps, and switching to a new app may not be worth their time. Cloud computing has changed the way businesses operate, but it has also changed the way those businesses make technology decisions. Software developers have embraced the cloud, and they’re creating cloud-based applications that make it easier than ever for businesses to transition to the cloud.
When viewed objectively, the benefits of cloud computing on businesses are clear. It makes sense that businesses that utilize cloud-based platforms are better able to collaborate, are more mobile, and process data faster. The change of technology has prompted businesses to bring their practices and policies in line with these advancements, and many are already reaping the benefits.