Advantages of cloud computing for businesses

Industry leaders are turning more and more to cloud technologies to run their companies better while serving their customer base more comprehensively to increase prospects for increasing their profits.
Advantages of cloud computing for businesses
Ceylan Ersoy
Apr 22
5 min read

For over twenty years, global industries have been experiencing the increasing presence and power of cloud computing, driving businesses more efficiently, boosting cost-benefits, and allowing businesses the necessary competitive edge for their products and services. Despite these trends, a specific portion of the global sectors haven’t adapted to cloud technologies; indeed, while 69% of businesses use cloud technology, 18% are still implementing it. Many questions why more companies aren’t going through with the transition yet given that 53% of companies have experienced 53% more revenue growth when compared to their competitors. 

Industry leaders are turning more and more to cloud technologies to run their companies better while serving their customer base more comprehensively to increase prospects for increasing their profits. Salesforce data reveals that a staggering 94% of businesses saw an improvement in security after switching to the cloud; while, 91% said the cloud makes it easier to meet government compliance requirements. 

This may be just the right time to start implementing cloud technologies for your business, as society had to speed up its digital transformation throughout the pandemic. Cloud computing can assist your organization in maintaining vital information, data, programs and continue the swift running of systems. Through more straightforward cloud computing applications offered by companies in 2021 (refer to Navatom’s cloud computing solution here), you can adapt to contemporary times better. 

You are probably not aware of how much you use cloud computing in many of your daily applications, including Google Drive, Gmail, Instagram, and more. The sending of personal data to be stored for later access allows businesses and individuals to secure vast amounts of data over time. Without further ado, here are ten benefits of cloud computing for companies and individuals. 

Top 5 Cloud Computing Benefits

  • You save much money. Around 20% of companies are intimidated into switching because they believe it will be costly to implement cloud computing servers. But, what they have to understand is how much this switch will save them in the long run and help them avoid hidden costs in operations. Cloud computing allows access to all organizational data, saving time and money for projects. Many cloud solutions have pay-as-you-go systems to only pay for the functionality and features you are presently utilizing. The lower cost and high return insurance is a definite benefit for many companies. 

  • Enhance your security. Cloud operations allow you to mitigate many security concerns as a significant portion of data is not maintained securely onsite. Many businesses have to deal with the unfortunate consequences of internal data theft or hacking instances that infringe upon data privacy and the trust instilled in the firm as a whole. That is why it is refreshing for many businesses that a staggering 94% of companies experience stellar security improvements when they switch to the cloud; this, in many cases, even includes government compliance requirements. Cloud services diminish the accessibility of data for hackers, as well as allowing swift disaster recovery. 

  • Improve your flexibility and mobility: Companies that invest in big data, cloud mobility, and security enjoy up to 53% faster revenue growth. Cloud computing allows you to gain access to extra bandwidth compared to hosting on a local server or an expensive IT infrastructure. Through the cloud, you can boost your efficiency by responding swiftly to business demands in real-time. Further, utilizing the cloud ensures better access to data via mobile devices; given that a staggering 2.6 billion smartphones are used in the world today, you can allow your staff to access business operations anywhere. Increase your accessibility and boost employee satisfaction by 24% with the cloud usage commitment. 

  • Gain valuable insights. Data is money in today’s world, and the right cloud computing solution may be your key to making sense of collected data for your business initiatives. Gain access to actionable information and implement customizable reporting systems to analyze insights and boost efficiencies. Companies have reported increasing profits by over 2 million dollars and cutting unnecessary costs by 200 thousand dollars at times through cloud-based insights. 

  • Increase collaboration and quality. During the pandemic, cross-team collaboration became particularly difficult to navigate. Cloud-based services allow for collaborative online platforms that can help in connecting employees and boosting their engagement. Further, cloud services can ensure consistent reporting in the format you need to avoid managing information and diluted data. The easy online management of data also enables quicker disaster recovery, reducing downtime—about 43% of executives in the IT industry plan on investing in cloud-based disaster recovery solutions. 

The benefits cloud computing supplies to businesses are not isolated to these five items. One can refer to lose prevention benefits for the company and automatic software updates, gain a competitive edge with the appropriate technologies, and boost sustainability by reducing the carbon footprint within the organization. It is time to hop on the bandwagon and explore the right cloud computing solutions for you. Check out Navatom for the optimal cloud-based solution for the ship management industry.