Facing these 7 common business problems? Migrating to the cloud can help.
Cloud business management solutions have been growing in popularity for the past couple of years, but it’s really since the pandemic that acceleration to the cloud has increased even more. According to Gartner, the cloud shift is here, and by 2024, more than 45% of all IT spending will shift from traditional solutions to cloud solutions.
As businesses look to improve their operational efficiencies, moving to the cloud is the logical step. Plus, cloud solutions can help companies solve critical challenges. So, if you’re on the fence about whether a cloud migration is right for your organization, here are some common business challenges you could overcome with a cloud solution.
What Problems Does Cloud Computing Solve?
Business Challenge 1: Expensive IT Costs
Running your business with an on-premises ERP or CRM solution can rack up your long-term costs. Not only are you paying for hardware, maintenance, upgrades, but you’ll also need to heavily invest in IT resources to help keep you running. Then there’s the added costs of replacing your hardware every couple of years. When you migrate to cloud solutions, your costs are typically reduced because the solution is hosted by the vendor and maintenance and upgrades are automatically handled for you. You also do not need to invest in specialized hardware.
Business Challenge 2: Cash Flow Issues
If you are a small or mid-sized business that needs to improve its cashflow, a cloud solution can help. With a cloud solution, you do not need to pay a large upfront fee for your business management solution. Cloud-based ERP or CRM solutions are offered on a subscription model, and this now becomes an operating expense instead of a capital (or long-term) expense. This results in an increase in cash flow.
Business Challenge 3: Departmental Silos
If your business is operating in silos, with poor communication between different departments, that is probably affecting collaboration and efficiency across the board. Cloud solutions make it easier to facilitate cross-department data sharing and make it easier to collaborate. This is primarily because they offer a single source of truth – where your entire company data across different departments is stored in one place, gets updated in real-time, and can be easily accessed by various departments.
Business Challenge 4: Mobility Restrictions
Cloud solutions give your employees the flexibility to work from anywhere, on any device, provided they have an internet connection. Whether it’s on the move or from home, your employees can get the data they need wherever they are to get the job done. This mobility is especially beneficial during the current pandemic landscape, where work-from-home orders are frequent. Cloud mobility tends to be much faster and more reliable than what you experience with an on-premises virtual desktop connection and doesn't require a lot of set-ups.
Business Challenge 5: Growing Pains
If your company is growing rapidly, cloud solutions offer an easier way to scale your operations. In an environment with constant change, they offer the agility to respond quickly as business needs change. On the flip side, you can also easily scale down if needed. Plus, cloud solutions also give you the ability to customize your services and select only those modules you require. With an on-premises solution, you won't be able to respond to changes as quickly or as cost-effectively.
Business Challenge 6: Risk Management
Cloud solution vendors offer robust disaster recovery and backup plans to safeguard your business data in case of a natural disaster or an emergency like a fire. Then there are smaller disturbances like power outages, damaged hardware, and network issues. As your cloud solution is hosted on your vendor’s servers, these are safeguarded with top-notch security and recovery solutions, so your business can keep on running, despite any calamities.
Business Challenge 7: Data Security Concerns
Data security is a prevailing concern for businesses, and with on-premises solutions, the onus falls entirely on the company to protect their business and client data. With a cloud solution, this responsibility is shared, as cloud solutions come with built-in security protections to help you better safeguard your data. Software providers can often deliver enterprise-grade security and compliance which goes far beyond what a company might be able to manage internally. Most software providers also invest heavily into cybersecurity research and development, to keep ahead of cyberthreats which are constantly evolving.
Next Steps
Migrating to the cloud, especially if you’re already using an on-premises solution, can seem daunting and complicated at first. However, numerous long-term benefits will help mitigate many of your on-going business challenges. If you’re considering a migration to the cloud, selecting the right technology partner is essential.
Learn more about how a shift to the cloud could help your small or mid-sized company reduce costs, improve efficiency, and gain business resilience. Get in touch with the Kwixand Solutions team by booking a free consultation or dropping us a line at info@kwixand.com
