With some reports suggesting cost savings of over 30% can be achieved, more and more businesses are tapping into cloud computing. This migration to ‘the cloud’ is helping businesses of all sizes become more competitive and changing the business landscape. In fact, few technologies have made as big an impact on business as the cloud with its ability to deliver computing as a service.
A huge part of cloud computing's appeal has been the many financial benefits it promises. Whether it’s shedding expensive IT infrastructure or shifting operational computing costs to a more manageable level, the cloud is well and truly delivering.
Reduced capital and operational spending
For starters, you don’t have to make any more of those large capital investments to buy, upgrade and maintain expensive servers, computer equipment and their related hardware/software. Over the long term, cloud service subscriptions also offer greater operational cost certainty compared to ongoing capital expenses. There’s also the significant reduction in the amount of electricity used for servers and the cooling units needed to run them.
With cloud computing, providers are responsible for system maintenance, upgrades and security, so you’ll have less IT maintenance and staffing costs. Providers are able to spread the expense of infrastructure and technical specialists across many customers, so costs are kept much lower. Plus, you’ll have no large upfront investment in software – purchasing software for multiple computers will be a thing of the past.
Built-in scalability for greater flexibility
Another key benefit for SMEs using cloud services is that it’s usually much easier and cheaper to scale up your server resources. Buying equipment that only covers your current needs means you'll be forced to purchase additional equipment at some stage in the future when you grow.
A lot of network engineers will also advise you to purchase extra equipment with added capacity upfront to avoid potential scaling issues – but this can be an extremely expensive investment on equipment that may potentially sit idle most of the time. With cloud computing, temporary server storage can be bought when needed. You pay for just the resources you use, so costs can be adjusted up or down with your business revenue.
Reduced tech support costs
Other cost savings can be achieved by utilising the full tech support that’s offered by most cloud hosting services. Unless you’ve got your own IT staff, you’d have to hire expensive contractors to solve any problems with in-house equipment. Cloud hosting services automatically monitor servers around the clock for faults and outages. And if something does happen it can usually be fixed fast and for no extra fee.
No more remembering to backup
Another time and money-saving aspect of cloud computing is that it offers automated backups. Backups are crucial for every business and can save the day when servers crash. Managing your own backups means having to do them regularly and storing backup data in a safe and secure place. Cloud services can do it all for you, which means you can focus more on running your business.
Apart from the cost savings, cloud computing can also increase the productivity of your business. Staff can use the internet to access apps and business systems from anywhere at any time, via a range of devices like laptops, tablets or smartphones. It provides added agility to your business when staff working offsite can keep doing business with the help of systems stored in the cloud.
Interest in cloud computing will only continue to grow, as more businesses look to rein in their IT costs and gain a better understanding of its other benefits, including greater flexibility, productivity and scalability. So whether you’re looking to move your data storage from in-house servers to a third-party provider, or want to move your entire operating system so that users can run your app with just an internet connection, cloud computing can open up a world of savings and possibilities.
As a leader in the payments space, Ezidebit is at the forefront of using cloud technologies. Read all about Ezidebit Cloud + Services here.