The future of business lies in the cloud. Small businesses need to adopt the right systems early on to mitigate issues and aid scalable growth.
One of the clearest paths to digital adoption for small businesses is through the smart use of cloud technology. Currently, 62% of small business owners use cloud-based services because of the numerous benefits it offers to companies in all industries.
According to Microsoft’s report, this number is expected to jump to 78% in terms of adoption rates by next year.
Cloud technology has become more accessible and affordable, which means there is little reason not to implement it.
Let’s dive into the reasons why cloud technology is so beneficial for smaller businesses and why they should embrace more cloud-based tools, both now and in the future.
1. Heightened Security
Data security is at the forefront of the minds of both business operators and customers alike. Unfortunately, private data hacks have become a common occurrence. Any sort of security breach can wreak havoc on a small business’s reputation and its finances.
Thankfully, cloud-based programs offer better security and data protection than traditional solutions.
According to the previously mentioned Microsoft survey, 94% of small businesses reported multiple security benefits after moving their data to the cloud.
Failing to adopt the cloud early on makes small businesses susceptible to breaches, which can easily doom their operations.
Many cloud-based applications boast better security and overall stronger infrastructures.
This is critical for avoiding cyber-attacks and the loss of data, especially financial data. Cloud programs, such as CloudBooks prioritize the security of invoicing data and proper warehousing.
This system protects accounting data for small businesses, and it keeps information more secure from hacks due to remote storage capabilities.
As sensitive financial data is kept on a decentralized cloud-based program, rather than an in-house database, it is better shielded from hacking or accidental breaches.
By using a cloud-based financial tool, small businesses can not only access important invoicing and billing data from multiple devices, but they can also rest assured that this sensitive information is safely stored.
2. Better Scalability
Scalability is perhaps the biggest advantage of using cloud-based applications. Many of these resources are designed for growth and development at minimal costs.
As Microsoft reports, a shocking 82% of small businesses that embraced cloud-based programs reported significant savings in operational costs.
Furthermore, 59% stated that using this kind of technology also makes their teams more productive, which can lead to faster growth and higher profits.
Take technology company Synaptic’s story, for example. Although this business focused on creating groundbreaking touch screens and trackpads, the internal informational system was seriously lagging behind.
Although the company had been growing by about 25% year over year, its internal organizational modeling system severely slowed its team down.
However, this all changed when the business switched over to cloud-based storage systems and VPN clouds for instant access to necessary information.
Project implementation time was whittled down from six months to just 60 days, while also saving the business about 2.4% per project.
One of the greatest benefits these tools offer is flexibility and instant access that can support a more productive work environment.
Furthermore, cloud technology can automate multiple processes, which can potentially save small businesses the hassle of hiring teams of specialists.
Small businesses need to keep their eyes open to any areas where switching to a cloud-based service could save them either time or money.
3. Easier Collaboration
In a growing business, you need seamless processes for collaboration as these initial workflows build the foundation for growth.
Cloud-based task collaboration tools make the process of working together easy, accessible, and secure.
Using cloud-based collaboration tools means that every single aspect of a project can go on without a hitch. Every person can be on the same page in terms of tasks and responsibilities without having to physically be located in the same space.
Once again, this can save growing SMBs time and money by keeping productivity levels high and overhead costs low.
There are cloud-based solutions for nearly every aspect of collaborative project management.
For example, cloud-based project management tools such as Asana offer solutions for projects with multiple tasks requiring data or file sharing.
Users can log in through a Wi-Fi connection on their laptop or mobile device and instantly access all of the files that they need.
Moreover, the program makes it super simple to keep track of progress for accurate estimates on project completion.
Airtable is another cloud-based option for one-on-one collaborations, as well as team projects.
Users can personalize the way they interact with the platform by choosing from multiple organizational options, such as a grid, calendar, gallery, or even a Kanban board view to help them prioritize in a way that makes sense to them.
Cloud innovation is intended to keep companies productive and connected. Small businesses need to take a look and see which areas of their business are lacking and could use extra support from cloud-based tools for more efficient operations.
Adopt the Cloud and Improve Your Small Business
Small businesses are looking for tools that can give them a leg up on their big box competitors.
This is why smaller entities are embracing technology that was once mostly restricted to corporations with massive budgets.
Embracing the cloud means that smaller entities can increase productivity, security, and performance, all while reducing operational costs.
Cloud solutions also offer more flexibility and instant access from multiple devices, allowing businesses to scale and grow remotely without incurring additional overhead.
All in all, cloud technology seems to be the key to small business growth and success.
It will certainly help usher in a new phase of advancement and digital adoption for organizations in all corners of the business world. Consult with a cloud consulting company today to learn more about integarting it into your systems.