The times are such that the world revolves around the internet today, literally. While the pandemic has had devastating effects on every aspect of life and the economy, a silver lining is that it came when a transformation to the digital space was already on the way. While many other industries crashed during Covid and the lockdowns which followed, the IT industry stood its ground and even flourished, as it was able to save a lot of expenses by moving work online. The best example for this is cloud computing, and companies that moved to the cloud have been found to have saved 15% of their IT costs by doing so. Here are five ways the cloud can cut costs for your company.
Less Hardware
The most obvious benefit of all, moving to the cloud cuts hardware costs significantly, especially for small and new companies, for whom buying new equipment and setting up on-prem from scratch is expensive. At the same time, the cloud ensures that your company needs to pay only for the infrastructure you need, not everything that comes with it. You might be sharing the applications with others, and it’s a win-win situation as you can scale up only as needed, plus there are options for temporary access fees.
No Rent or Electricity
Bulky equipment needs office space and temperature control, all of which leads to heavy bills at the end of every month. Businesses are fast letting go of their rent heavy office buildings, investing the amount in other areas and their employees. This is sustainable as you save energy and electricity at a massive scale in the long term. More customers today prefer to associate with companies that are conscious of their carbon footprint.
No Maintenance and Repairs
Upgrades, maintenance, and repair of hardware take up a good chunk of expenses for every IT company, in addition to the protocols of employing dedicated staff. In cloud solutions, the maintenance and repair of the virtual storage are taken care of by the vendor, who is on call 24/7. That is one job lesser for the company, plus your staff could focus on more important areas like development and not countless hours on repairs.
Faster Results, More Productivity
Conventional hardware could take weeks or months for installation, while cloud might take just a few hours. This could lead to better productivity in the long term as employees can focus on work that matters than waiting for installations. Cloud storage and software applications can be accessed from anywhere in the world today, which suits the current climate of remote working. Cloud computing also offers options for pay-as-you-go packages, which makes it easier for smaller businesses to make the switch.
Better Back-ups
Data isn’t stored at a single physical location with cloud storage, making it less vulnerable to destruction because of accidents and natural disasters. Recovery and backup are hassle-free and guaranteed even in an accident, plus available at lower costs. This can save businesses backup costs and the constant fear of loss of data.
