The business landscape is experiencing significant change as technology evolves and innovative thinking brings more ideas to life. One of the most significant changes for business in the past few years is cloud technology. And it’s growing quickly.
In fact, according to IDC Analysts, annual global spending on cloud services is predicted to grow at a CAGR of 19 percent, reaching $141 billion in 2019. Small companies will undoubtedly represent a significant portion of this giant pie as well.
Internet-powered systems are helping companies compete more effectively through mobility and streamlined operations, and small companies now have the unique advantage of accessing business-building tools and software solutions they’d typically not be able to afford until much later in their growth cycles.
Here’s a closer look at 5 key ways that cloud software can bring big benefits to small companies.
1. Cost Savings
One of the most significant cloud software benefits for small business is cost savings. Cloud-based programs are much more cost-effective than elaborate on-site systems, so they can help keep your budget in check without sacrificing tools, mobility, and convenience.
The availability of cloud software solutions for an affordable price makes it possible for small companies to implement key tools much sooner than they’d typically be able to fathom and afford.
2. Remote Team and Contractor Support
According to Gallup, in 2017, 37 percent of the U.S. workforce telecommuted at least part-time. This number is only expected to grow in 2018 and the years to follow. Business is much more mobile, flexible, and technology-driven than ever before, and remote work is becoming the norm where it used to be an occasional exception.
Cloud technology supports this changing workforce by providing all the tools and systems employees need to be successful, without limiting access to a singular location. Embracing a remote workforce can reduce costs, drive productivity, and support overall employee happiness and health with heightened work/life balance.
One of the key markers of cloud technology success is productivity. Small companies that adopt cloud solutions early on are experiencing phenomenal productivity gains across all aspects of their business. Cloud services help drive productivity in your company by lowering costs, enabling more effective efficient work, and boosting collaboration opportunities.
4. Mobility and Flexibility
Cloud technology is changing how people connect and operate their businesses by giving easy, secure, remote access to systems that have been historically bound to a physical office location.
Business mobility and flexibility are cornerstones of small business success. Using cloud software solutions, such as cloud storage, are in an integral part of this success because you can connect more quickly and easily with the people you need to collaborate with to grow your business.
5. Competitive Edge
Cloud technology supports agility by removing location restrictions and budget strains while providing powerful tools and business flexibility. The culmination of these factors helps reduce speed to market times and gives your business a competitive boost.
This can mean big shifts for your business by increasing your speed to market and differentiating your company from the competition by embracing leading technology.
About Author: Jeni Rogers is a researcher and regular contributor to TrustRadius, where she shares her knowledge of the latest trends in B2B news and software.
Note: The author’s views are entirely his or her own and may not reflect the views of Ace Cloud Hosting.
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