It may always seem like a good time to save money – it never hurts to make sure your business isn’t spending heedlessly. But certain moments are more ripe than others for exploring cost-cutting techniques. Now is one of those moments. Now is the time to specifically capitalize on using cloud computing to cut IT costs for one stark reason: if you don’t do it now, your competitors will, and you’ll be left in their dust.
Numerous sets of statistics forecast the explosive growth of the cloud computing market. Gartner forecasts a 19% growth in public cloud services in 2020. Last year, the research and advisory firm projected worldwide public cloud revenue to grow exponentially through 2022. Fortune Business Insights reports that by 2027, the global cloud computing market will reach $760.98 billion – demonstrating a compound annual growth rate of 18.6%. All of these figures mean that businesses like yours are adopting cloud computing at stunning rates. They are taking advantage of the ability to cut their IT costs, and they will continue to do so. Will you be one of them?
Here is how your competitors will be leveraging cloud computing to cut their IT costs:
Less Spending on Hardware and Infrastructure
When you move to the cloud, you reduce your business’s dependence on hardware, thereby lessening your upfront, capital expenditure on technology. Cloud computing means you don’t have to buy technology infrastructure, so you can shrink your IT costs by excluding these large purchases. With your business technologies in the cloud, you’ll no longer need to invest in storage and servers, and you’ll even reduce your power costs because you won’t have physical technologies on your premises using electricity.
Lower, Predictable Monthly Overhead
Part of why cloud computing gives businesses a competitive edge is because they can eliminate the potentially negative impact of having to shell out big bucks for upgrades. With everything from your infrastructure to your employees’ desktops to your security technologies in the cloud, you’ll pay monthly expenses to maintain those services. Your provider will be on top of upgrades, and you’ll pay to add or subtract seats or capacity as needed so your expenses become more predictable and manageable.
Fewer Labor Costs
With your computing needs stored off-site and with a separate provider, you won’t have the same IT staff expenditures you once did. This doesn’t mean you have to do massive layoffs, but it means you can either downsize in terms of some full-time requirements or enable your in-house IT expertise to devote more time to strategy for the business.
There’s No Time Like the Present
Every year, your competitors leverage cloud computing technologies to cut their own IT costs. The longer you wait to jump on the bandwagon, the longer you’ll have to spend catching up. By then, who knows how much market share businesses like yours will have nabbed? To discover the wonders of cloud computing, contact Enterprise Visions today. We’ve been helping businesses cut IT costs for decades.