The popularity of cloud computing has grown immensely since it first entered the technology arena. Recently, “the cloud” has been revolutionizing the way small businesses operate. However, some small business owners are still a little unclear about how they can use cloud computing to better support their business. Read on to find out how your business can benefit from successfully adopting the cloud.
First off, what exactly is cloud computing, anyway? Cloud computing is a new technology that allows small and medium-sized businesses to access software and services through the Internet. This method of computing is a simpler, more affordable alternative to expensive storage systems and servers. With the cloud, businesses can use the technology solutions of third-party providers, without having to invest in expensive technology and system upgrades.
So, what can the cloud do for your business? Here are some of the most beneficial elements that cloud computing has to offer.
Mobility: Employees can access cloud-based programs and software from any location that has an Internet connection, and from almost any device. This way, small businesses can mobilize their workers more efficiently, and the convenience of the cloud allows for greater collaboration between on-site and off-site personnel.
Greater Security: With a cloud-computing system, data is located in a secure, off-site location, where it is backed up frequently and automatically. Your business will also be in more reliable hands, as cloud service providers generally have experienced, knowledgeable IT staff and more access to the newest technologies.
Cloud-Based Loan Origination Systems: Nowadays, loan processing systems just can’t seem to keep up with fast-paced business markets. Time is money, and entrepreneurs who spend a long time waiting for small business loan approvals are losing both time and money. To remedy this issue, some companies have recently developed ways to process loans via cloud, thus streamlining the otherwise chaotic and time-consuming process of loan approval. The company nCino, for example, with its cloud-based loan origination system, has reduced the average time of processing a commercial loan from 65 to 40 days. Entrepreneurs can even track their loan origination progress online.
Lower Costs: The sheer amount of money saved by opting for the cloud has already encouraged many small businesses to abandon their old servers in favor of the cloud. Cloud computing eliminates the need for expensive storage systems and more personnel. Compare the cost of managing your own servers and the cost of using cloud storage’s external backup system to see if cloud computing would benefit your business. If you would like to adopt the cloud, you can cover initial costs with a small business loan. You would be investing in technology that will eventually boost your bottom line.
This article was submitted by Megan Zhang, freelance blogger and writer. She lives in New York City. Send all questions to firstname.lastname@example.org