Are you hearing about the benefits of cloud technology but aren’t sure if it’s right for you?
According to SavvySME, 65% of SMEs are already on the cloud, so it’s more than likely that your competition is already there. Forbes says 78% of U.S. small businesses will have fully adopted cloud computing by 2020.
The New Jersey Institute of Technology’s research says that nearly 50% of users and vendors are using the cloud for revenue-generating or product development activities. 35% are using the cloud for innovation or competitive advantage.
Here are 5 warning signs that tell you it’s time for your business to make the move.
- You need to control your fixed costs. Cloud means no more unexpected – and unaffordable – bills to fix your server, systems or software. Typically, a fixed monthly fee covers it all and that can include a help desk on tap.
- You need to know all the “numbers” that make your business tick and you need to know in real time. If you can’t afford to wait until the end of the quarter – or even the end of the day – to be certain you’re hitting your key targets, then you need constant monitoring and instant reporting from cloud solutions.
- You want to grow your business significantly. In the bad old days, companies that wanted to expand to new markets had to first hugely upsize their back office systems. This was slow and expensive. Cloud is infinitely scalable so you’ll have no technology limits on how many new offices or outlets you can open.
- You need to constantly innovate in your sector. Cloud technology enables you to be more agile in the marketplace because you can simply move to a new platform, with very little – or even no – initial cost.
- You need to be “on” and “open” 24/7/365. Getting outsourced software maintenance is the main driver of cloud migration. IT downtime means lost revenue, low productivity, poor service and dissatisfied customers. It makes sense to outsource software stability to a provider who’s focused on uptime and availability.
Because cloud solutions are significantly more affordable, flexible and scalable, there’s a big competitive advantage available for cloud users.
If your technology costs are higher, you won’t compete on price. If you’re slow to adopt new features and options, you won’t compete on service. If you can’t scale up quickly, you won’t be first to new markets.
I understand the move to the cloud can feel daunting but I also understand what a positive impact it can have on the sustainability and profitability of a business.