According to a 2018 study by Gartner, about 90% of organizations will use cloud services by 2022. Should your organization switch to using cloud technology too?
Let’s start off by understanding what cloud technology really is. The National Institute of Standards and Technology defines cloud technology or cloud computing as the on-demand availability of computer system resources, especially data storage and computing power, without direct active management by the user. In simpler terms, it is the delivery of services which include servers, storage, databases, networking and software through the Internet.
You may be using these services without being aware of the fact that they are a part of the cloud computing sphere. If you own an iPhone you may be familiar with iCloud which stores photographs, documents and already purchased music and apps which is automatically updated in the user’s other devices. If you deal with important documents, you might have heard of Dropbox which is a cloud storage service that saves your files online and syncs them to your devices. Other cloud computing services that you might be familiar with are Microsoft 365, Google Cloud Platform, Amazon Web Services and Adobe Creative Cloud.
What exactly makes cloud technology so alluring such that this industry is currently valued at around 371.4 billion USD?
1. Cost savings
The low costs are the major benefit of switching to cloud computing. Cloud services do not require any physical hardware investments which helps a lot of organizations to save on capital costs. In addition, you do not need trained personnel to maintain this hardware. As cloud services mostly work on a subscription-based model, buying and managing of equipment is done by the service provider.
The only requirement to access cloud services is Internet connectivity. Cloud services allow employees or clients anywhere around the world to have access to corporate data. This benefit has become a key reason for the expansion of cloud services. In times like these where working remotely from our homes has become the new normal, cloud services really do come in handy.
3. Data security
Every business’s major concern, regardless of their size, is the security of its data. Cloud offers many advanced security features that guarantee the security of data such as authentication, access control and encryption. You also have the option to solidify these protections with added security measures of your own which tightens access to sensitive information in the cloud.
4. Ease of collaboration
The old ways of data sharing through couriering USB’s or emailing back and forth has become very troublesome. Using cloud technology allows you and your team to access the data from any geographical location with ease.
5. Data recovery
Data loss is also a major concern for businesses. Uploading your data to the cloud makes it accessible to any computer with Internet from anywhere in the world even if your laptop has been damaged. Cloud services store your information in 2 or more locations as back up, so even if a natural disaster wipes out an entire data center, you wouldn’t lose any of your data.
6. Environmentally friendly
Not only can Cloud services help you reduce costs, but it can also help you become the paperless office you have always dreamed of. Cloud Accounting services are a great way to become more eco-friendly and save on paper and printing costs as all of your documents such as financial records are digitalized and stored in the cloud. Reducing your carbon footprint in the world will not only give you a feel-good feeling but also help you attract customers who only associate themselves with sustainable businesses.
7. Competitive edge
Adopting cloud technology will give you access to the latest world-class enterprise technology which will keep you ahead of your competitors.
The adoption of cloud technology by organizations is on the rise every year, and rightfully so. Is your business going to be a part of this sphere in 2021?
– By Eshita Suvarna, ACS International