Top 8 benefits of cloud computing to businesses

Business technology is a key driver of growth. It’s not just about having the latest and greatest gadgets, but about using the most effective and efficient tools for the job. The cloud is one of these tools, and its place as a staple business investment is undeniable. In fact, according to recent statistics, the public cloud market is expected to reach $397 billion in 2022, with cloud software making up over 50% of that figure.

But despite the popularity of cloud computing, some businesses may not fully understand the potential returns of investing in the cloud. Here are the top eight benefits of cloud computing:

1. Significant cost savings

The most commonly cited benefit of migrating to the cloud is that cloud services are far more affordable to operate than traditional on-premises infrastructures. With the latter, your business is responsible for covering the costs of purchasing, maintaining, and upgrading hardware and software. There are also additional costs, such as utility bills and wages for IT staff.

On the other hand, with cloud services, the number of users or the amount of resources used typically determines the fixed monthly subscription fee that needs to be paid. That means you only pay for the resources that you actually use. There’s no need to make a big upfront investment in servers and lifetime software licenses because the resources you’re using are in servers hosted and managed off site by your cloud provider. Ongoing maintenance, support, and system upgrades are also included in the subscription fee, giving you access to highly optimized technology at the fraction of the cost of owning and operating it yourself.

2. Fast deployment

Beyond cost savings, cloud-based solutions also benefit from faster deployment speeds over traditional on-premises deployments. For one thing, there’s no need to install new software locally. In most cases, all you need to do is sign up for an account with a cloud provider and start using the desired service. Top cloud services will even include data migration features, which simplifies the import and export process from your old database.

3. Increased scalability

The primary competitive advantage of cloud-computing is derived from its natively scalable design. When your business operations necessitate an increase in resources, such as compute power, storage, or user accounts, cloud platforms can provision these resources both automatically and at scale. That’s because these resources are delivered over the internet as a service, so there’s no need to install or configure anything on site. You can flexibly scale resources up or down as needed, rather than buying expensive servers to anticipate future growth and risk underutilizing them during slower periods.

If you need more computing or storage resources, you can quickly spin up new virtual machines or increase your subscription plan with the click of a button. That’s a big advantage over on-premises deployments, which can take weeks or even months to set up and provision new servers.

4. Widespread accessibility

An additional benefit of the cloud is derived from the ease of accessibility it provides to internet-connected users worldwide. Whether you’re in the office, at home, or working abroad, you can easily connect to your cloud applications and files using a laptop, tablet, or smartphone. For most companies over the past few years, the cloud has also enabled workforces to go remote through a hybrid work format during COVID-related lockdowns and quarantining. As a result, the availability and scalability of cloud computing helped to minimize disruptions from COVID-related shutdowns and aided the hampered productivity of companies around the US and the rest of the world.

5. Improved collaboration

With cloud-based platforms like Microsoft 365, multiple users can work on the same document or project at the same time. File changes are automatically saved and synced across all devices, ensuring everyone is always on the same page. Users can also sync calendar appointments, share files, and hold video meetings using cloud-based apps, making it easier for remote teams to stay connected and work together effectively.

6. Enhanced security

One of the concerns that businesses have about migrating to the cloud is security. After all, leaving data in the hands of a third-party provider can feel like a risk. 

However, the reality is that cloud providers have expertise and resources that most businesses don’t when it comes to data security. Reputable cloud providers invest heavily in state-of-the-art security technologies like high-end data encryption, behavior-based intrusion detection, holistic malware protection, and more. They also have teams of dedicated security professionals who are constantly monitoring systems and responding to threats. Thus, in many cases, data may actually be more secure in the cloud if a company doesn’t have access to sophisticated cybersecurity solutions on-site. 

7. Ensured business continuity

Another crucial benefit provided by the cloud is its ability to serve as an effective disaster recovery tool. If on-site data is damaged, lost, or stolen, cloud backups can be quickly retrieved and installed in place of the previous data. The efficacy of the cloud as a disaster recovery tool is further emphasized by the redundancy of cloud data in multiple locations around the globe. With a properly administered cloud backup procedure, businesses can continue to operate through any disaster with minimal downtime.

8. State-of-the-art technology

In the past, business innovation was often hindered by the high cost and complexity of implementing new technologies. This meant that only the biggest companies could afford to stay ahead of the curve. Now, because of the cloud, even small- and medium-sized businesses have access to cutting-edge technologies that would have been out of reach just a few years ago. These include things like artificial intelligence tools, big data analytics, and internet of things devices. Through the effective use of cloud services, companies have the opportunity to leverage truly powerful tools when providing services to their customers.

By taking advantage of cloud computing, your company can enjoy increased productivity, collaboration, security, and more. If you still haven’t switched over to the cloud, it’s time to start. Contact Dynamic Solutions Group today. We not only recommend the best cloud solutions for your business, but we can also help you deploy and maintain the new system.