Cloud computing has gained immense popularity over the past few years, with 94% of companies using cloud services in 2022.1 It’s no wonder why – migrating to the cloud not only improves an organization’s security and scalability, it’s also vital to supporting remote and hybrid work initiatives.
However, one of the most compelling reasons to make the move is the cost-saving potential associated with cloud computing. Businesses have reported cost savings of up to 20% after migrating their critical systems to the cloud.2 In this blog, we’ll explore five ways migrating to the cloud can help your business save money.
1. Reduced Infrastructure Costs
An estimated 463 exabytes of data will be created every day by 2025,3 so moving away from costly on-premises hardware now can result in significant savings as your data storage needs grow. Cloud providers offer flexible plans that allow you to pay only for the resources you need, when you need them. This means you can quickly scale your infrastructure up or down as your business needs change – without incurring major expenses.
2. Lower Energy Costs
On-premises servers and data centers require a lot of energy to run, resulting in high energy bills for businesses. Migrating to the cloud means you will no longer be responsible for powering and cooling computing equipment, potentially lowering your company’s energy consumption by 65%.4
3. Improved Productivity
Migrating to the cloud can also increase employee productivity thanks to tools that improve automation, collaboration, and scalability. Cloud-based systems and applications enable your staff to work from any location, anytime, using any device with an internet connection. And with 58% of business leaders reporting higher productivity from hybrid workers,5 providing better connectivity for your work-from-anywhere teams is essential.
4. Better Security and Compliance
Security and compliance are important considerations for businesses of all sizes, especially as U.S. businesses lost an average of $9.44 million on data breaches in 2022.6 By migrating to the cloud, you can benefit from the advanced security offered by cloud providers – such as multi-factor authentication, encryption, and real-time monitoring – to significantly reduce the risk of data breaches and other cyber attacks.
5. Less Maintenance
Cloud providers handle all maintenance and updates for your cloud infrastructure, including security patches and software upgrades. This reduces the time and resources spent on time-consuming, routine maintenance tasks, leaving your onsite IT teams free to focus on more strategic tasks and resulting in cost savings between 15% to 40%.7
Find Your Best-Fit Cloud Services With Enterprise Visions
If you’re struggling to find the right cloud services for your business, Enterprise Visions is here to help. We can design, implement, and manage your cloud migration to ensure you reap the many benefits of cloud computing – at the best possible cost. Leverage our expertise and knowledge of trusted cloud providers to find right-fit cloud services that help you lower costs, boost productivity, and build a smoother future for your business. Contact us today to learn more.
Sources:
- https://www.zippia.com/advice/cloud-adoption-statistics
- http://m-hance.com/app/uploads/2017/05/mhance-office-365-cloud-trend-report.pdf
- https://www.weforum.org/agenda/2019/04/how-much-data-is-generated-each-day-cf4bddf29f/
- https://www.datacenterknowledge.com/cloud/5-ways-optimize-cloud-migration-energy-savings
- https://www.mckinsey.com/capabilities/people-and-organizational-performance/our-insights/what-executives-are-saying-about-the-future-of-hybrid-work
- https://www.ibm.com/reports/data-breach
- https://www.bcg.com/publications/2019/enterprise-applications-cloud-ready-prime-time