By 2025 the cloud computing market is predicted to be worth $800 billion, soaring from $200 billion in 2020.
Established names such as Netflix, Xerox and Instagram are among those that have invested in cloud technology.
Many companies cite profitability as the main incentive for making the switch. Sunny Delight, an American orange drink company, leveraged cloud analytics to boost profits by roughly $2 million a year – as just one example.
Why companies are embracing the shift to cloud-based systems
The cloud has revolutionised how businesses manage their day-to-day operations, store important data and develop systems.
It wasn’t too long ago that paper-based systems were commonplace in business. But in a matter of years, the emergence of cloud software has seen these more traditional systems become a thing of the past.
And it isn’t hard to see why companies are embracing this change and eagerly moving their information over to the cloud.
The cloud seamlessly streamlines a company’s processes, which removes clunky procedures and makes it possible to avoid over-documentation. Employees have more time to spend on meaningful tasks, rather than being bogged down by busywork that could be automated.
A business’ needs are bound to change over time, and rigid systems will struggle to keep up. As you grow cloud-based systems grow with you. If you downsize they can easily be scaled down as well, so you are only paying for what you’re using.
By implementing flexible and scalable systems companies can ensure they stay agile, which is vital for staying competitive.
77% of respondents to a 2018 survey said the security risks of cloud computing were a top concern. When data is stored in the cloud, businesses don’t see the exact location it’s kept. While this can be unsettling for some, 94% of businesses saw an improvement in security after switching to the cloud.
In recent years we’ve seen a shift towards remote and hybrid work models. After the pandemic 90% of Australians want to keep working from home. It’s no longer an added bonus – for many companies ensuring staff have secure access to data, information and resources outside of the office has become a non-negotiable. Cloud-based systems make it possible and subsequently reduce costs, increase productivity, improve work cultures and lead to better employee retention.
How to implement cloud-based systems
Migrating to the cloud doesn’t need to be an overly complicated process, especially if you have a consultant there to help with implementation.
1. Set clear, specific and measurable goals: What do you want to achieve by moving to the cloud? Before getting started, it’s important to take the time to determine the purpose of your transition to establish clear direction.
2. Assess your current situation: This involves completing an audit of existing infrastructure, the systems and information that could be migrated to the cloud and the resources you have available to put towards migration.
3. Present a compelling business case: If you’re not the sole decision-maker at your company, you may need to justify why cloud computing is a solid investment for the business. See our blog on how to convince your boss to invest in cloud-based systems to find out more.
4. Get expert assistance: If you don’t have internal expertise and experience migrating to the cloud, it can be a good idea to get assistance from a consultant. They know what goes into a smooth transition and can save you a whole lot of time, money and stress.
5. Determine the specifics: Select the type of cloud environment needed, the components you’ll require and which provider to go with.
6. Get planning: Use all of the information you’ve collected to create a detailed and specific plan, which explains your intended migration process and shows how you will reach your goals. This should include timelines while also clearly outlining the roles and responsibilities each employee will have for migration.
7. Execute plan: Implement the changes outlined in your plan.
8. Monitor effectiveness: Establish tools and processes for measuring your ongoing performance to achieve continuous improvement. The cloud makes it possible to implement widespread changes quickly and easily, which can come in particularly handy if you find any issues during this stage.