Why Startups and SMBs are Increasingly Moving Towards a Cloud-Based Solution?

  • 24th Feb'21
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We’re on the verge of completing two months of 2021, and there are countries like the UK, Ireland, and several others that are still in lockdown due to coronavirus. With uncertainty not willing to leave the human race, it has become really difficult to figure out the new normal for businesses. 

 

Challenges Posed due to Pandemic

  • The pandemic has forced businesses to adopt remote workspaces and compulsorily create an online presence; there are several challenges laid down to solve.

  • Small businesses and startups especially have to face the most disadvantages.

  • There was a study conducted by a group of researchers from Harvard University, the University of Chicago, Harvard Business School, and the University of Illinois. They’ve conducted a survey of more than 5800 small businesses and discovered that “43% of businesses were temporarily closed and that employment has fallen by 40%”. And a negative impact would likely persist even after they’ve resumed businesses.

Therefore, it is necessary for small and middle-sized businesses(SMBs) to actively look for solutions that will last and make them more accessible.

Read Now: Build your 2021 Business Strategy to Move Forward

 

 

Let’s learn the advantages of Cloud-based solutions to understand how it will help Startups and SMBs.

 

Advantages of Cloud-Based Solutions

1. Cost Savings

You no longer need to pay hefty amounts for software and its upgrades. And if you are worried about paying for all the features that you don’t want to use, then don’t worry; most cloud computing services offer pay as you go. This means that you only pay for the services you use.

2. Scalability

You can scale up or scale down your business operations as per your will and don’t have to worry about storage to take care of, allowing you flexibility.

3. Data Recovery

If you face any disaster, natural or power failure, or any other crisis, your data is at stake. But with cloud computing, you don’t have to worry about it since all your data is safely backed up in the cloud.

4. Makes Collaboration Easier

Cloud computing allows two people or more from different locations to view and share information easily and securely over the cloud, making teamwork easier. It works perfectly well for remote workspaces. 

5. Quality Control

Poor quality and inconsistent reporting can really mess with your business. In a cloud-based system, all the information is saved in a single format in one place. This makes it easier to maintain consistency as everyone is accessing the same information.

6. Mobility

Cloud-based solutions also allow access to data on your smartphones, making it accessible for all, including sales staff who travel a lot.

7. Sustainability

The social responsibilities of businesses do not just end at paying their CSR money to meet government regulations. It is time to get real and use sustainable options in their day-to-day operations. Cloud computing is one such option where you can save a lot of paper and hardware waste, decrease carbon footprints, and be environmentally friendly.

Must Read: Entrepreneurial Lessons To Learn From 2020 For Having a Better 2021

 

 

Why Startups and SMBs are Increasingly Moving Towards a Cloud-Based Solution?

Cloud-Based Technology is one of the top solutions SMBs are increasingly looking for. 

Reasons for which are:

  • Restrictions and lockdowns due to coronavirus have forced organisations to figure out a way to operate businesses remotely. While companies and operations that deal with physical products may still need a limited staff to visit the physical workplace. but all other employees can work from home via cloud-based systems.

  • There are several options out there to help businesses manage and integrate their teams remotely because it is now a must for businesses to have a function-able remote workspace. 

  • Apart from that, businesses are supposed to create a strong digital presence for customers to reach them. This requires the help of strong technology too. Creating an online presence is not just a medium for customers to find you but also interact with and if used correctly, can be utilized as a powerful marketing tool. To accomplish all these things, businesses need to have proper infrastructure that allows seamless work experience from working anywhere in the world.

  • Businesses are trying to diversify their products to survive or stay relevant.

  • Companies have been relying on solutions like Quickbooks to manage and record their business finances better.

  • Although last year has been a serious struggle for businesses to adapt, their demand has increased. 

  • Quickbooks is a great solution for managing finances, but as the company grows, hires more people, or introduces new products, this app wouldn’t work.

  • Having cloud-based systems integrated across your business makes it so much more manageable and easier. 

  • Choose a Cloud-based system that has Financials, Accounting, Inventory Management, etc.

  • Cloud-based solutions provide them with on-demand services, which makes it easier for them to adapt and facilitates flexibility. 

 

Running your businesses on papers or spreadsheets for years and suddenly shifting it online is a huge deal, but it’s high time startups, and SMBs roll their sleeves and get back to their “business” quite literally. Cloud-based solutions are one of the great options for technological advancements for Startups and SMBs.

 

Let us know your views in the comment section below.

 

To read more about startup basics, refer to the links attached below:

Disaster Planning Checklist For Small Business

2020 has definitely made businesses understand how important disaster planning is. To find a disaster planning checklist for small businesses, click here

Opportunity Zones: Enterprise Community Partners

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How to implement your business ideas?

Are you in a full-time job but constantly think about finding a perfect business idea to leave the job or are interested in learning how to find different business ideas and how to implement them correctly then read here

Estimate Your Startup Cost

Startups have been the talk of the day for a while now. Governments are encouraging startups as it will boost the economy in the long term. But do you know how to estimate your startup cost if you plan to start one? Find out

30 Must-Learn Lessons From top Entrepreneurs

There’s no better way to learn than from experience especially if you can learn from someone else’s mistake, nothing like it. Let’s take a look at some wisdom from the top Entrepreneurs. Read here


 

We, at OpenGrowth, are continually looking for trending startups in the ecosystem. If you want to know any further information about the startup ecosystem or have any mind-boggling ideas, do refer to the other blogs at OpenGrowth. If you have any suggestions, do let us know in the comment section below.

 

Sources/References:

*Note: The content published above was made in collaboration with our members.

About the author:

Ayushi Vanzara, OpenGrowth Content Team

Ayushi is currently pursuing Chartered Accountancy. No secrets there that she loves to read!  She believes words have the power of healing and is a medium that can convey like no other. She hopes to connect with people through her empathy, thoughtfulness, and by adding value to their lives.


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