A recent research study of 532 executives released by The Forbes Insights concluded that cloud-based collaboration drives productivity innovation as a result of their enhanced capabilities.
So what are the ways the cloud can help your business improve efficiency and reduce cost? Here are three areas to focus on:
Collaboration to Competitive Advantage
Internal efficiency helps you get to market faster, close the sale quicker and get customers the information they need in real time – giving you a competitive advantage.
Cloud-based productivity and document management software allow access to the same information from across the globe – ensuring everyone from sales and marketing to finance and customer service all have access to the same information – simultaneously.
With the accessibility of cloud technology, your team can literally work together from anywhere.
With automated workflow, teams have added accountability – without the endless “where is this document” and “why don’t I have access” email chains.
With efficiency comes acceleration – with the right systems in place, your teams can focus on growing your business instead of wasting time searching for and tracking down files. If you aren’t taking advantage of cloud-based technologies to move ahead…your competition may get there first.
“93% of leaders agree that cloud-based collaboration stimulates innovation.”
~The Forbes Insight
Investment to Innovation
Cloud technologies enable companies to make investments where they matter most, providing greater visibility for informed business decisions.
Cloud technology has allowed small to medium businesses to take advantage of technologies and efficiencies that larger companies have invested in for years. Investments can be made in the cloud incrementally – as your business grows, your technology grows with you.
For example, automating your AP Processing system may be the first step in improved financial efficiency. Integration with an ERP system provides the insight you need to make informed decisions based on your actual performance.
With the right information and clarity you can make the best decisions about the direction your company needs to head and where you can make the greatest impact.
Savings to Security
Most cloud technology companies are innovative by design – making it easier for you to take advantage of product upgrades and built-in security at a low cost.
Not all cloud software is the same – and you certainly need to do your homework on the best performing companies in your industry.
But generally speaking, cloud technology is less costly and less time consuming to implement. With cloud-based systems, your start-up investment is minimized by the reduction in hardware cost with accessibility to a robust infrastructure – without the need for in-house servers or IT staff to manage large systems.
Product upgrades and innovation are the hallmark of most cloud companies – gone are the days of time-consuming overhauls of in-house technology.
With hosted service, businesses reap the benefits of very low overhead, easy access via a web browser and the security of a redundant data center.
And what about compliance? What do to with files that contain mission-critical information, and how to securely store, access and share that data?
With compliance headaches a reality in every industry, most cloud-based systems have built-in redundancy, automatic backups and disaster-recovery. All of your data can be stored and shared directly via the cloud- saving your company money in shipping, storage, photocopying /faxing and data backups.
Businesses that haven’t identified ways to innovate with time and cost savings, efficiency between departments and data derived from visibility will naturally fall behind.
The cloud is more than a buzz word, or a new entry in the OED. It is a way to make a big impact in your business without destroying your bottom line.
Is the cloud right for your business today? Download our free eBook: Cloud or On-Premises? Four Questions You Must Answer Before Selecting Your Next Business Solution