If your business has so far failed to make the transition to cloud storage, you could be losing out on an opportunity to increase profits. A recent study by Exact and Pb7 Research indicates SMEs who now use the cloud have seen their profits double and revenues increase by 25% in contrast to businesses not utilising the technology.
These results were based on small businesses in the US, in a total of 750 interviews as part of the Small Business Cloud Barometer 2015 report. When analysed next to Exact’s data on European businesses, US companies are the most prolific users as 51% say they use some form of cloud technology and 30% use at least three cloud apps to assist day to day business running. The UK is the nearest rival with 47% using the software and 27% using three apps or more.
The Top Reasons for Cloud
Upon questioning, security was cited as the top reason for business cloud implementation, with 32% of respondents claiming this. Lower IT costs was the second most popular reason at 26%, followed by low maintenance at 23%, easy mobile access for 23% and increased productivity at 21%. General Manager of Exact, Kae Williams was ‘surprised’ security was the top reason for cloud transition, as it is usually cited as a concern for cloud users in light of the recent hacking scandals affecting online storage facilities.
Who is most likely to benefit?
Importantly, the research indicated three main industries which can benefit from cloud usage – small wholesalers, manufacturers and accountants. Wholesalers struggle to keep delivery dates on track but cloud usage could give alerts on low stock and allow delivery time tracking, giving much needed access to data which pushes the business forward. For manufacturers, the cloud can give increased levels of automation throughout the sector, helping drive down costs as well as increasing productivity and efficiency. Finally, for small accounting firms, the cloud helps speed up some of the small administrative processes which frees up more time for employees to deal with clients and in turn increase annual turnover.
A Cloud Solution provides greater efficiency
After reading the results, Williams believed the greater efficiency created with a complete cloud software package was the key reason for increased SME profitability. Nevertheless, 50% of the surveyed businesses still are not using the cloud which, based on this research, could really be holding them back, something Williams bases on security worries and general unfamiliarity with the technology.
Choose the right support
I have supported SME’s that have made a successful transition to the Cloud. The key is to utilise specialists who know what they are doing, can help you with the transition and support your presence in the Cloud. If you would like to discuss a move from a traditional pc or server solution for your software, please get in touch, so we can work together with one of my specialists, and increase your efficiency and profitability.