According to Microsoft, 49% of small-to-medium sized businesses utilize cloud computing to reduce costs. This means that just over half of small-to-medium sized businesses are missing out on the cost savings their business could experience as a byproduct of cloud computing. If you are one of the 51% of businesses yet to make the switch let’s take a look at the numerous ways you could financially benefit from doing so…
CAPTIAL SAVINGS: Let’s start with an obvious one. When your business doesn’t have to purchase on-site servers and hardware…you save big! There are no two ways about it – equipment is expensive.
LOWER I.T. COSTS: When your business utilizes cloud computing you don’t need space to store your servers, you don’t need to maintain equipment and you don’t need to pay for power and cooling. What you will have is the flexibility to expand and contract your storage space as needed – a cost that may vary only slightly on your monthly bill – and without any additional hardware costs = a financial win for your small-to-medium sized business.
LOWER PAYROLL COSTS: I.T. employees are valuable and are compensated as such! When your I.T. people aren’t tied up in maintaining servers, backing up hard drives, troubleshooting equipment failure and making updates they will be freed up to focus their time (and your financial resources!) on propelling your business forward instead. Talk about a gift that keeps on giving!
ECONOMIES OF SCALE: Because of the nature of cloud storage, economies of scale or “a proportionate saving in costs gained by an increased level of production” is always at play. With countless businesses utilizing the same data storage centers, cost to each individual business is substantially reduced. Additionally, unlike on-site servers, cloud storage servers are kept continually busy and your business doesn’t have to absorb the power cost of idle servers – a much more efficient use of power.
REDUNDANCY: With cloud storage comes cost savings in the area of redundancy. Your data is stored in at least two geo-redundant locations so your business doesn’t need to purchase extra hardware to allow for duplication of data or for that “just in case” moment, once again also reducing capital costs.
If you would like to learn more about the financial benefits of moving your business to the cloud or have any questions about cloud computing, don’t hesitate to give us a call at 952.279.2424!