Four Cloud financial benefits
From increased efficiency to flexibility, there are numerous ways that migrating to the cloud can positively affect your business. To be honest, it also just makes good business sense in terms of the Cloud’s financial benefits.
Pay for what you use
Cloud computing brings high utilisation capabilities, along with the levelling of points and dips in server workloads. If you are using a public cloud, you’ll be sharing your workload with other companies, which allows the cloud provider to optimise its hardware needs. As all hardware is being optimised, this passes the cost savings on to you.
Reduce power costs
If you are managing your own internal IT systems, rather than outsourcing to the cloud, it’s highly doubtful that all of your servers will be fully-utilised. As you know IT systems use electricity to run, and electricity costs money, so why are you paying to run a system that you’re not fully using? By migrating to the cloud, you’ll only pay for the resources that you use, not for the resources that you may need to use.
Lower management costs
The staff budget is typically the most expensive aspect within an organisations IT department. Good IT staff are expensive and this is before you even add on the cost of recruiting them. When you migrate to the cloud, some of the fee that you pay goes towards the staffing and maintenance of the cloud you are using, which is generally a lower cost than you would have paid by hiring them internally.
No capital expenditure
When you run your own servers, you have to purchase them up front or by a finance agreement. When you rent a solution from a cloud provider, this is their issue. You don’t have to worry about purchasing any equipment upfront. Instead, you just pay for your IT systems as a service.