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Business Growth Tips: How To Increase Your Business Profits With Cloud Computing

 

If you’ve never heard about cloud computing, you’re probably wondering what it means.

Here’s a simple explanation:

Cloud computing is data storage and computing that’s done over the internet, instead of locally on your computer.


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For instance, there are websites and applications on which you can store, access, and engage your documents, images, videos, etc, instead of keeping them in your desktop files. Those applications are called cloud-based applications.

They include Google Sheets and Docs, virtual accounting tools, HR software, VoIP, video conferencing tools (like Zoom), a lot of Project Management solutions, cloud Content Management Systems (CMS), and even video streaming services (like Netflix).

You may already be using some kind of cloud service.

But how can you deploy more of these tools in ways that boost your business profits?

How to Grow Your Profits with Cloud Computing

Here are some ways to grow your business’s profits with cloud computing.

Reduce Spending

If you’re using a cloud service provider, you can outsource your IT maintenance and troubleshooting to them. This reduces the number of IT staff you need to have at your business, and the overhead you have to incur as a result.


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You can also tailor your spending on infrastructure to meet demand. If you are a smaller enterprise, you may subscribe for lower cloud capacity, and scale up as you grow.

Enhance Collaboration

With the cloud, it’s easier to collaborate on work with team members regardless of where they are. Teams can discuss and work on projects in real-time, thanks to document storage and processing tools, video conferencing applications, and multimedia collaboration tools.

This increases the team’s pace of work and the quality and quantity of their output. Ultimately, it could grow profits for your company.

Cut Downtimes

Downtimes may be caused by one of several factors, ranging from software problems to a disaster that knocks your facilities out. When they happen, you risk losing valuable work, failing to meet deadlines, and rendering lower quality service. Worse, you could lose customers, and the profits they bring.

In the event of downtimes, cloud technologies like backup and virtualization can help you quickly whip up ‘clones’ of your original work, so that you can carry on as normal. With downtimes cut, you can expect to see an increase in output quality and quantity and in profits as well.

Improve Safety and Security

Many businesses have lost vital data to malicious actors and seen their profits tank afterwards. While cloud systems aren’t totally hacker-proof, they offer some of the best protection for sensitive data you will ever find. Cloud product providers are also constantly updating their security features to stay ahead of cybercriminals; you can take comfort in this too.

Raise Competitiveness

The cloud has the potential to become a great leveller for businesses. That’s because it’s heavily relied upon by SMEs and large companies alike. No one really has much of an advantage here, except in knowing the best ways to deploy the technology. If small businesses can figure this out, they could hold their own against their bigger counterparts.

Final Words

There’s a lot you can achieve with cloud computing. If you use it right, it could totally transform the way you do business, and substantially increase your company’s profits.

Featured Image Source: The Balance Small Business


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Ikenna Nwachukwu

Ikenna Nwachukwu holds a bachelor's degree in Economics from the University of Nigeria, Nsukka. He loves to look at the world through multiple lenses- economic, political, religious and philosophical- and to write about what he observes in a witty, yet reflective style.

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