The coronavirus pandemic has only reinforced the need for cloud adoption in organizations as the demand for digital experiences grows and costs rise due to the move to remote work. Moreover, increasing customer demand around hyper-personalization and 24/7 support service is only driving cloud adoption due to its benefits compared to traditional methods.
Hence, businesses are adopting cloud computing and deriving its true value. The global cloud market is expected to nearly triple by 2025, from $371.4 billion in 2020 to $832.1 billion by 2025.
Cloud technology has come an extremely long way since its introduction more than ten years ago, and many companies are using its capabilities to solve different problems. For example:
- To innovate products and services: Apple Inc., an American multinational technology company, developed Siri, a virtual assistant – which transformed the entire mobile world. The cloud receives and processes the user inquiries prior to responding. Kroger, the grocery store chain transformed its grocery shopping experience through interconnected, automated, and innovative models.
- To provide highly customized, touchless customer experiences: Bernhardt, a furniture company, used cloud technology to create a virtual showroom that its representatives can easily access via tablets and show off all the product inventory.
- To improve the process: The Meals on Wheels of Greenville shifted their financial management software onto the cloud to reduce costs, provide better documentation, and aid in fundraising.
- To reduce operation expenses: Migrating some or all work to the cloud saves around 10-20% of annual IT budget.
These examples show that the cloud has become an integral part of many companies’ business models, helping them to improve productivity and efficiency. This is why investment in this area will continue even during tough economic times.
How cloud supports hypergrowth?
Businesses that create value rely on not just IT, but also people, customers, partners, processes, and technology. They all work together to bring value to their business. Since the cloud comes with flexibility and agility, it can be a great way to modernize businesses and eliminate legacy inefficiencies, and duplication of effort between departments or by individual employees, enabling the businesses to focus on their customers.
Put simply, the cloud is a bridge to help you go from the place you are now and the place you want to be.
Cloud can efficiently manage your data.
The cloud is becoming a key component of an effective data management strategy because of the following factors:
Cloud supports security management:
The in-house systems aren’t always capable enough to keep systems running when a cybersecurity incident occurs, especially when IT teams are busy working to keep operations running when people are working remotely. In this case, the cloud can be useful. It provides a flexible, scalable, and secure infrastructure for your data-driven applications that allow you to do more with fewer resources while maintaining privacy at all times.
Cloud is scalable: Scalability is another key reason why enterprises choose to move their data into the cloud. They can scale up, when necessary while downscaling significantly around open hours saves them money and wastes fewer resources in the process.
Cloud enables innovation.
Cloud is the best platform to accelerate innovation today because it brings together everything you need to innovate—your data, people, and processes on one streamlined platform with easy access for everyone involved. It allows business leaders to analyze the data which can lead to new insights. Besides this, it offers you access to services like AI (artificial intelligence) from partners such as Microsoft and promises an endless stream of amazing ideas.
Cloud is the future of enterprise systems.
The cloud is a game-changer for many companies, providing benefits to businesses in the high-tech industry. However, migration to the cloud is not as profitable as modernizing the existing systems (traditional systems). This, however, involves restructuring, rehosting, and modularizing. Hence, cloud migration along with a good strategy can help the whole process be easy, sustainable, and more profitable in the long run.
Cloud reduces infrastructure costs.
The cloud is a great way for enterprises to calibrate their work environments in tune with the time at which employees log into them. This means that if you’re working late hours, your code production environment can be scaled up so more people have access, and it can be downscaled during weekends or after-hours when people are not working.
Cloud is the future of work.
Cloud computing has been a great leap forward for many companies. Organizations around the world have adopted the cloud to modernize their IT systems and minimize costs. Now, the point is not about which cloud services to use, but how to use them effectively so as to gain a competitive advantage while effectively managing company data and reducing IT costs.
Cloud computing can provide a competitive advantage to companies if they have an enterprise-level cloud strategy. The cloud needs to fit into your digital transformation business plan by taking into account what you are doing now as well as understanding how emerging ecosystems will impact profitability going forward.
The cloud approach should also provide you with an analysis of how it will impact your efficiency, as well as an in-depth report to understand the potential benefits in terms of performance and ROI.
In today’s world, cloud computing has become an absolute necessity for growth. It facilitates remote work models, effortless scalability and scalability with minimal cost if leveraged correctly.
If you’re looking to adopt cloud services, we’re ready to help you. Explore ZNetLive’s managed cloud services to learn how you can smartly invest in the cloud depending on your business needs.
