10 ways to cut costs with the cloud

Cloud computing is big business. With the market expected to reach $40 billion in five years, more than 75% of small businesses in the U.S. will have moved to the cloud by 2020. The true power of the cloud lies in what the technology can unleash for you.

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Here are 10 ways you can cut costs and scale your business in the online economy:

Trim startup costs: Setting up the necessary technology is a vital yet expensive step for an early stage business. Many businesses opt for cloud solutions when getting their company off the ground as it reduces the upfront investment for email, web/document hosting and even phone systems.

Lower setup and deployment expenses: Cloud technologies are synonymous with lower software and tech maintenance requirements. They will help you avoid the costs and challenges associated with traditional on-premise deployment.

Streamline operations: Another perceived cost benefit of cloud communications is streamlining business processes that can be difficult to automate. By cleaning up areas of inefficiency, you can streamline operations and spend more time growing your business.

Improve flexibility: The BYOD transition and its implications for workplace mobility (like telecommuting) have accelerated the need to get devices, applications, and data up and running in the cloud. Cloud communications enable teams to share, download and sync files from anywhere, improving collaboration and igniting innovation.

Secure important data: Because your information is stored remotely in the cloud, you can retrieve the latest versions of your data in case of an on-site system failure or a disaster. With automatic and free updates, you don’t have to worry about losing important information.

Expand reach: The changing nature of the modern workplace means that your operations no longer have to be office-based. Cloud communications gives you access to top technical talent without paying for full-time staff.

Modernize infrastructure: Given its elasticity and self-service nature, the cloud has become a popular alternative to expensive storage or disaster recovery infrastructure. Cloud-based services are often more sustainable than services delivered on-premise, especially if your servers or other hardware are aging.

Optimize resources: The cloud can save you money and time by helping manage the important parts of your business from procurement to finance, inventory to talent so you can optimize resource planning. Because cloud technologies offer solutions to some core business challenges, using them can help you make the most of your limited resources.    

Manage growth: SMBs using cloud technology to overcome their initial challenges grow 26% faster and deliver 21% higher gross profits. Moving your business to the cloud gives you the ability to scale and standardize across locations.

Minimize risks: With the ability to test and try products and the availability of immediate upgrades, cloud technology enables quickens the development of ideas and leads to better decision making - minimizing future risks for your company.

Using cost savings from cloud computing, your business is free to redirect its resources for product innovation giving you a long-term competitive advantage in the market.

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