Cloud services benefit businesses in so many ways that it can be difficult to condense them effectively – but one area that shows undoubted gains for any enterprise is the cost-cutting that cloud computing can deliver.

1. Reduced Costs

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As long ago as 2013, a survey of medium-sized UK companies revealed that 88% experienced savings as a result of moving to cloud services. Today, with the advances in cloud computing, business leaders and their office managers can experience even greater cost savings than they could five years ago.

Here are some of many areas in which cloud-based services and solutions cut business expenditure:

  • Less money is spent on expensive hardware – which often ends up going unused or becoming obsolete anyway.
  • Server maintenance costs are eliminated entirely – and therefore no power costs either as your data is hosted in the cloud.
  • No repair or replacement costs for hardware; all that expense is absorbed by your cloud provider.
  • Ability to scale down during quiet periods – because businesses can often buy cloud services by the month or by the quarter, you are capable of reducing storage space and removing users during quiet periods and scale up almost instantly during busy ones.

2. Better Resource Management

Small businesses need to stretch their resources and being able to expend as much time and energy as possible on improving performance is a must. 56% of companies using cloud services reported in increase in profits after moving to the cloud and a lot of this comes down to being better able to manage the resources they have available to them.

When you move to the cloud, your data is stored on off-site or remote servers that are maintained by experts, with inbuilt data security that is constantly updated to deal with the latest threats.

This enable businesses to free up time and resources and dedicate them to focus on what they do best – running their business.

3. No Maintenance Costs

Choosing cloud solutions, as 36% of Irish businesses did in 2016, can dramatically reduce the cost of IT maintenance and consequently, the labour overhead that accompanies in-house Information Technology staffing.

Repairs and upgrades are the responsibility of the cloud vendor, which not only reduces the overheads for a business, it also means that a business does not have any wasted down-time during maintenance or upgrades.

4. Introducing New Systems Is Easier, And Cheaper

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Unlike many other innovations such as social media, cloud computing has largely been designed and implemented for business use with an understanding of real business requirements.

71% of all cloud services have been designed for commercial use while only 29% are focused on individual consumers. As a result, investing in the cloud is easy – there’s very little workload required to to adapt to the cloud – it’s designed to work for business first and foremost, giving customers of cloud services a chance to improve their business performance.

So, when you’re implementing new systems in your business, the cloud allows you to get more work gets done, for less cost, with minimal wasted time.

5. Better Collaboration

Cloud-based programmes are available 24/7, on almost any device or platform that can access the internet, making them ideal for mid-sized businesses that need to work remotely. 66% of small and medium-sized businesses across Europe say that employees need the ability to work anywhere, at any time.

Cloud software allows individuals and teams to collaborate instantaneously, wherever they are. Instant messaging and virtual meetings support better partnerships and information sharing gives a business the chance to react swiftly to new opportunities, boosting sales and improving chances to benefit from rapidly changing market conditions.

Not to mention the time and cost savings spent on travel costs and larger office spaces!

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In short, cost savings from the cloud are a real benefit across the entire range of business operations. The cloud saves business money, boosts productivity, helps with leading innovation and supports better collaboration.