There are famous sayings that “necessity is the mother of invention” and “crisis produces innovation.”
The current global situation is driving people to come up with extraordinary ideas. Thus, an increase in the number of startups can be noted. All the processes of building a startup require investments, an experienced team, and systems to communicate & collaborate for efficient results.
However, at present, there is a lack of resources, money, and infrastructure. These can cause a roadblock for a great idea. But these roadblocks can be avoided with proper planning and using the right technology, such as cloud computing. Entrepreneurs can build their startup without investing in a physical office or extensive hardware with the help of cloud technology.
Cloud technology is already popular among businesses of all sizes, small or large, as it helps them to improve productivity and bring in higher revenue. Still, there are many entrepreneurs and leaders who often remain hesitant about adopting cloud technology. To clear the confusion, here are 5 benefits of cloud technology that makes it the right choice for startups-
1) Cost Savings
For any startup, saving money is on the top of their list. Utilizing cash resources to its maximum is what they look for every process. This makes cloud technology the best option to choose for their business.
When a business is on the cloud, there is no need for the business owners to establish a separate IT department, deploy IT professionals, or spend money to manage the IT infrastructure. Employees can efficiently work on any device as all the required software and applications are on cloud servers. Also, there is no need to install them on every device.
2) High-end Security
Security is one of the most crucial parts to work on for any startup. According to RapidScale‘s report, 94% of businesses claimed improvement in the security of their data and application after moving to cloud.
When looking for high-end security features, startup owners need to choose their cloud hosting service provider wisely. A competent provider will offer multiple security measures like data encryption, multi-factor authentication, IDS/IPS, multiple firewalls, and much more to ensure data protection even after any disruptive event.
3) Mobility and Flexibility
While establishing a startup, employing the right team members can be challenging. The right candidate to be hired might be based at a different location. However, when the business is equipped with cloud computing, it becomes easier to work with people across the world without hurdles.
In addition, with the help of cloud technology, entrepreneurs also get a chance to expand their client base, not limited to their area. Moreover, entrepreneurs can monitor their business even when away from work via any device with an internet connection.
4) Business Continuity
Server downtime, system issues, or IT problems, any of these puts a halt to the business till the error is resolved. This means loss of the crucial time. Apart from technical issues, uncalled situations, like the current pandemic, cause the most damage to the businesses. Such events can cause an irrevocable loss that can even lead to the shut down of the startup.
But with cloud technology, there is no need to worry about system failures or data loss in case of disruptive events. The competent cloud service provider guarantees SLA uptime of a minimum of 99.999% to ensure that there is no interruption, and the business operation runs smoothly as before.
5) Competitive Edge
Once the startup is established, entrepreneurs keep looking for ways to enter the competition and grow themselves into SMEs. For a startup to make its place in the industry, it is necessary to keep up with the trend and adopt the latest technologies.
The popularity of cloud technology is rapidly increasing among every industry. If the entrepreneur chooses to use cloud technology, it helps them to achieve their goal. Also, the startup that starts with a cloud-based solution will have more power compared to the competitors who make the switch at later stages.
6) Pay As You Go
The entrepreneurs who are concerned that they’ll end up paying for the resources and features that are unnecessary for their business, then that is not the truth. Most cloud service providers offer customizable plans to meet the requirements of the startup.
The pay-as-you-go applies not just to the cloud features but also to the data storage space required to store the important information. Entrepreneurs can start with small space, and then as their business expands, they can easily scale-up the storage and features as required.
7) Integrated Workspace
Any business requires software and applications to ensure that all the processes run smoothly. Also, it is necessary to have efficient communication among different teams and departments. However, passing information from one department to another and then feeding it to the software can be a time-consuming task.
The cloud platform provides an environment where applications and software can be integrated to get a unified workspace for everyone. This integration means that all the necessary data can be migrated to and fro from accounting and billing applications. Thus, startups can achieve higher productivity and save time.
8) Green Computing
Our environment has been in constant degradation for several years now, and every business is adopting various measures to save the environment. However, to protect the environment, sustainable solutions that can reduce the waste at every level are required.
Cloud computing is one such sustainable solution that helps businesses to reduce their carbon footprint and save energy resources by switching to hosting services instead of running desktop applications. It also helps in minimizing paper usage as bills, invoices, and documents can be shared on the cloud.
Cloud technology not only enables entrepreneurs to work remotely and flexibly. It also helps them to save money as there is no need to invest in complex IT infrastructure when using cloud hosting services. It provides advanced security features to protect critical data and maintain business continuity in every situation.
Startups can scale up or down their resources on-demand without halting processes for days. Entrepreneurs can use the time saved to work on building better strategies for the growth of their startup.