How Migrating From Spreadsheets To Cloud Systems Can Drive Profit
Gone are the days of cloud-based computing and storage being something to dread. That’s why most experts suggest businesses begin comparing their current data solutions against what is possible with cloud systems. By doing so, it’s quite likely that you and your company will be saved from a lot of future headaches and current superfluous costs.
Over the long term, the economics of technology infrastructure is strongly going to favour cloud systems over onsite computing. Utilising the tools and technology of cloud-based systems, companies can increase their internal productivity while developing new revenue streams.
Cloud software means core business tasks such as enhanced customer targeting, and improved content development can be performed at a reduced cost and at a much faster rate. New products and services can be launched sooner with a faster time to market, while also ensuring data security and a robust growth environment.
Improved IT Structures
Organisations in most business areas can often find themselves worried about upfront software prices without looking at the total cost involved with having their own data storage solutions on-site, from tech support, to electricity usage, and additional hardware.
Alternatively, companies only need to pay for the storage they need with cloud-based services, which allows them to take advantage of scaling, reliability, and security, which many can’t afford internally. Don’t forget that updating software internally is never required either as it is always handled automatically.
Both public and private cloud-based systems create an entirely standardised data environment, with scalable back-end functions and systems which provide access to tools that technicians can use to further develop the system. Plus, the savings on staffing and infrastructure within the IT budget over the next 5 years are quite likely to account for up to AU$8 billion.
Reduced Electricity Usage
Public cloud computing is also responsible for significantly optimised and reduced electricity usage. The hyper-scale of public cloud data centres include their significant investment in highly efficient cooling technologies and other energy management protocols. This allows them to consume anywhere up to 50% less operational energy than typical on-site infrastructures or other data centres.
Uplift In Revenue
Public cloud-based data storage often enables a boost in revenue due to the ability for rapid product or service launches, while also internationalising businesses, and utilising enhanced targeting and client personalisation through artificial intelligence and machine learning to engage with customers. Businesses that utilise the public cloud have an anticipated revenue uplift over the next 5 years of about AU$123 billion, or roughly 3% of the current base revenue of businesses.
Improvements In Productivity.
Companies can utilise cloud-based analytics as well as advances in machine learning and artificial intelligence to truly improve their decision making, which leads to greater cost efficiencies and enhanced productivity in a wide range of non-IT functionalities. In fact, small businesses who use public cloud-based software could save around AU$30 billion over the next five years due to enhancement of productivity, which would be equal to around 2% of all current non-IT base costs.