The Advantages Of Cloud Computing For Small Businesses

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Overview of the cloud computing

Cloud computing is the on-demand delivery of Information Technology (IT) or computing resources over the Internet. With the pay-as-you-go pricing model, cloud computing offers services like applications, analytics, data storage, servers (physical or virtual), databases, development tools, software, networking capabilities, intelligence, and more. Instead of purchasing, maintaining, or owning a physical data centre or huge servers, you can avail the services as needed from the Cloud Service Provider (CSP).

The CSPs host a remote data centre and charge a monthly subscription fee as per the usage of their services or resources.

Cloud Computing in Our Daily Lives

Cloud computing has been around for over 20 years but has gained more traction in the last five years. Many people use cloud technology daily without even realising it!

If you are streaming Netflix or Amazon content, you are using cloud services. Indulging in banking facilities via the bank app? That’s cloud, too. Scrolling through apps like Instagram or Facebook, you are using a cloud computing technology.

Cloud computing is proving beneficial for small and big businesses alike. This has made a career in fintech one of the most sought-after options among young learners. Invest in a fintech course to become a certified professional.

Let us now learn the top 5 benefits of cloud computing to small businesses.

Top 5 advantages of cloud computing for small businesses

1. Scalability and flexibility

Cloud computing offers built-in scalability and flexibility, essential for small businesses. Cloud-based services provide remote servers. It is easy to scale up the capacity to extra bandwidth to meet the growing demands. Likewise, you can scale down when you wish to. This flexibility guarantees an edge over competitors by vastly improving operational efficiency.

2. Data security

Data security is a major concern for small and big businesses alike. From data loss due to accidental deletions to cyberattacks and other malicious attempts to steal information, there are numerous risks associated with data.

Not all small businesses have an IT and cybersecurity team specialising in corporate data security. Moreover, these business units are not expected to funnel large amounts of money into physical data storage, security, and server maintenance. It is highly beneficial to leave these concerns on cloud computing. Cloud providers provide high-security details like permissions, authentication, and encryption.

3. Low cost and maintenance

Buying, storing, and maintaining servers are too expensive for small businesses. Housing and operating them daily can cost a fortune for small businesses. Moreover, even the hardware components (cables, ventilation units), licences, and software upgrades come with a hefty price tag!

Therefore, the role of cloud service providers is significant, especially for small business units. Their services are bundled and streamlined for maximum benefit at a much lesser cost. It makes more fiscal sense to get an expert provider to handle data security so that you can focus only on the profitability and growth of your business.

4. Mobility

With cloud technology, you only need an internet connection to work from anywhere. Moreover, the most efficient cloud services that offer assistance on mobile phones ensure that the work isn’t restricted. Cloud-based applications allow seamless communication between employees, customers, clients, and suppliers.

Through cloud computing, small businesses can offer more flexible work time to employees. This will allow them to remain productive and maintain a work-life balance.

5. Collaboration and transparency

In a collaborative workplace, there is a constant need for version control on documents. Imagine how frustrating it is to open a shared document only to realise that someone has edited and saved the wrong version! Moreover, you cannot even identify who caused the mishap.

But when you switch to cloud computing, all your files and docs are stored centrally. One transparent source keeps a check on all activities taking place within the documents. You also have the power to share instructions and information with team members in real time.

Even when small businesses spread out geographically, cloud computing minimises the complications of collaboration.

Wrapping up

Small businesses across the globe are shifting to cloud computing for its various benefits. By opting for cloud services, you can contribute a large Return on Investment (ROI) for your small business. Cloud service providers have packages poised to work more for your business with minimum expense. Choosing a cloud service is highly beneficial, especially when you compare it to building and hosting your servers.

Do you know that cloud computing is transforming careers in fintech? At Imarticus Learning, we provide several fintech courses that offer essential cloud computing skills. Check out these courses on our platform to design and develop a sound career in fintech.

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