No matter what kind of business you have or what position in a company you hold, we all know that businesses have one bottom line—find ways to be more productive, work more efficiently and save money for the company. If you work in IT, you know that there are various issues to solve, mainly how to keep your data safe yet accessible to all staff. Sure, there are services like DropBox and Box available to people involved in projects, but these services can’t handle the amount of data a typical business has to go through. This is where cloud computing tools come in.

The best way (and often the only way) to archive, protect, manage and recover your data is to keep it safely stored on the cloud. Here’s how embracing this technology can help your business save money.

Capital investment

Here’s a depressing thought—about 20% of small businesses don’t survive their first year, mainly because of financial issues. With a tight budget, investing in in-house data management services can ruin the company. If you’re looking for a more sensible and budget-friendly option, cloud computing is perfect for companies with limited capital. Upfront costs of cloud tech can’t be compared to in-house tech as the latter is much more expensive. On the other hand, cloud solutions offer flexibility from the onset.

Scalable hardware

Cloud data management has a natural air of scale within it. Since there’s no need to use your own dedicate server that also needs maintenance no matter if it’s utilized or not, the company can use a shared server infrastructure with other organizations. This is beneficial for many types of businesses, but e-commerce can reap the most benefits since struggling stores can allocate their funds smartly. With this tech, you only pay for what you use—no need to waste money on idle infrastructure that only boosts operating costs.

Less energy waste

Cloud computing is more eco-friendly and budget-friendly due to all the energy savings it produces. Even using experienced AWS professional services that are the largest computing platform in the world can result in savings. Saving on energy is even one of the main advantages this cloud giant is pointing out. When you have an in-house data centre, servers are never fully utilized which means a great waste of energy. Cloud service providers can charge you less regardless of demand.

Fewer employees

When it comes to computing costs, the staffing budget is often the biggest single line item companies are funnelling money into. Paying your staff sometimes makes up more than 50% of operational costs. Why is that percentage so high? Hiring IT experts is not cheap since they usually demand and deserve good salaries and benefits. Plus, other employment costs of IT staff usually outweigh the cost of equipment. And we didn’t even mention the recruiting costs of quality workers. Luckily, if you decide to move to the cloud, still some of the money you pay for services is required for staffing costs, but this amount is much smaller when compared to maintaining an experienced in-house team of IT experts.

No software overhaul

Maintaining software and compliance is not only costly but also exhausting and tedious for everyone. But cloud computing has one more benefit—up-to-date presence. Since everything is done over the internet instead of manually, there’s no need to pay for large software programs. When signing up with the cloud computing service, there’s no need to pay for up-front costs, plus the fees can easily be fit into your monthly expense projection in the company (because they are generally low and flat).

Better productivity

Cloud computing saves your company money directly—through savings on labour, maintenance and equipment. However, cloud tech also saves you money indirectly, buy increasing productivity. A private cloud allows people to customize their data distribution, which can greatly affect productivity. Cloud computing also provides users with an easy way to collaborate with teams, business partners and remote workforce. Thanks to their many tools, working is easier and faster than ever, allowing better partnership and connectivity. It’s possible to access data and information no matter where they are in the world. Therefore, expect better performance from your workers and higher revenue.

Cloud computing used to be a thing of Sci-Fi, but now, more and more companies are adopting these services to gain a competitive edge. To boost your profits and save money, embracing cloud computing services seems to be crucial for success.

Posted by Elaine Bennett

Elaine Bennett is an Australian-based digital marketing specialist focused on helping startups and small businesses grow. She writes hands-on articles about business and marketing, as it allows her to reach even more people and help them on their business journey.