Statistics of Cloud Investments are not at all static; its vibrant growth of 6.3% in the year 2020 says all about it is worth. SMLs look forward to higher security and accessibility of data. Cloud Investments are directly proportionate to the risk assessments.
With cloud trends climbing the real question is does your Cloud Investments return Expected Value?
The value is the same as that prompted you to take a decision for moving on cloud.
You got what you invested for if it….
- Simplified customer journey
- Elevated user experience
- Improved business interaction
- Enhanced delivery of features
- Reduced operational costs
- Promoted easy adoption of newer technologies
- Sustains business values
- Increased revenues
- Database security
- Gave Peace of mind
The discrepancy in return on investments in the cloud shows a high probability of miscalculations of risks.
Cloud investments are for people who believe in empowering businesses and employees enabling them to perform better and better.
Pointers for Jeopardy of Cloud Investments
Organization’s readiness for change
- Check technology environment and get the technology audit done
- Technical and technological competencies for cloud approach and configuration
- Recognizing infrastructure investments in cloud platforms
- Setting up resilient features for faster disaster recovery
- New operating model for higher speed and efficiency on cloud f
- Handling more requests and processing
- Revisit the existing investment policies and modify
- Current work pattern to convene and determine the futuristic demand of cloud usage
- Setting sequential priorities of features and functionalities impacting business
- Economic cloud adoption model
- Equation between IT experts and the decision makers of business
- Integration of digital technologies and operational capability for business transformation
- Strategy for uninterrupted operations
- Applying best practices for cloud investments
- Cost management for competitive advantage
- Automation for vital not redundant processes
Cloud Investments are the need of an hour not because of its popularity but a necessity to deal with upcoming business challenges. Predictive analysis of cloud suggests 83% of enterprise workloads will be on the cloud this year. Cloud adoption trend shows the combined usage of private and public clouds for super flexibility. Hybrid cloud is a choice of over 45% of enterprises while 41% of SMBs favour public cloud.
Why Cloud Investments are better when compared to traditional IT solutions?
- Saves time, minimizes IT investments such as costs of servers, infrastructure setup, and system maintenance
- Growing data and its storage is no more a concern for additional funds addressing this long-term issue efficiently
- Different types and storages of data can complicate the situation and can cause loss of data if you go for traditional backups
- Cloud investments keep your data safe even in natural calamity and technology failure
- No efforts on configuring hardware or maintenance also reduces the costs of hiring IT experts
- No need to spend time on updates and administration once you move your services to cloud
- High speed IT implementation because of no dependency and improves time to market
- Ease to innovate and no additional costs to experiment new ideas
- Safe data backup with no need to purchase a backup hardware
- Access to the latest technology with no worry about purchase and reinvestment makes it wise financial move
- Cloud updates are included in SLAs (service level agreements)
- Use private, public and hybrid cloud or multiple clouds to suit your requirements
- Greater business agility, and scalability for 24×7 availability builds a professional image
- Better data analytics and management
- Anywhere anytime data access to improve workforce management
- Operate with minimum IT team and include your current and future IT needs
- Better control over access to data on the cloud ensures tight security of confidential data
- Cloud investments are easy to manage, along with changing IT requirements you can add or reduce the capacity
- No time spent on research for acquisition as there is no need to acquire the assets physically
- Get estimation for the predicted requirements of cloud space
- With the added number of users, you need not purchase additional software licenses
No dedicated systems, servers, and data centres to manage just rent the cloud storage space from service providers to enjoy zero downtime, pay per-use, and save data on externally on the cloud.
Distinctive benefits of moving the systems to the cloud should save you from expensive entry to cloud. If you consider the public cloud, then you reduce investment and increase costs. Reverse computation will show whether you created a valuable opportunity or paid an opportunity cost. Value addition has a direct relation to the quality.
Things change faster than a blink in the line of business, be ready for the change.
Eager to see the impact of Cloud Investments then continue to observe the Retail, Manufacturing, Financial Services, and banking sectors.