Cloud technology is changing the way we do business.
In fact, cloud computing has been on the rise since 2010 and is expected to become a USD1 trillion industry by 2028. Sometimes the most prominent advancements are the ones that completely upend entire industries.
From accounting to payroll to IT and beyond, the cloud significantly impacts many different business functions. Cloud computing has revolutionized business operations in accounting, human resources, and marketing.
It is transforming how businesses operate as it enables organizations to access information easily, make strategic decisions, and set themselves apart from their competition.
There are five core business operations that have an effect as part of digital transformation, and we will look at each one in turn.
5 Business operations transformed by the cloud
Cloud computing for businesses is emerging as a revolutionary technology.
The cloud has enabled enterprises to achieve new agility, efficiency, and flexibility levels. It has also opened up new opportunities for collaboration and innovation that weren't possible before, as seen below.
1. Customer experience management
Cloud technology has enabled businesses to create customer-centric experiences that are more personalized and engaging.
This technology enables businesses to collect, store and analyze massive amounts of customer data, which can then be used to provide relevant, personalized offers and promotions, etc.
Cloud platforms for business organizations also allow them to respond quickly to changing customer needs and preferences by delivering products and services in real-time while ensuring compliance with privacy laws and regulations.
For example, Scribe has a customized customer service template that allows users to provide feedback.
Scribe uses AI to auto-generate step-by-step guides for any process, and with Scribe Pages, you can combine those guides with text, images, video and more to build powerful business process documentation and templates.
Check out our Gallery to get started with more Scribes and templates today.
Additionally, customer relationship management (CRM) has evolved from a primary customer database into a sophisticated tool.
This evolution allows it to integrate with other applications, such as accounting or ERP systems, to provide valuable insights into how customers interact with your business.
These CRM platforms are now available as a cloud service, making them easier to deploy and maintain than traditional on-premises solutions.
Additionally, cloud CRM solutions like Scribe often have built-in analytics tools that allow companies to monitor their progress over time and make data-driven decisions about which strategies are working best for them.
2. Business process automation
The digital transformation to cloud technology allows companies to automate many routine tasks that were previously performed manually by employees at different locations around the world.
Some of these routine tasks included data entry tasks such as entering customer orders into inventory systems, printing and copying documents, or automatically billing invoices once a shipment arrives at its destination port and so on.
This automation allowed employees to focus on more significant strategic initiatives instead of performing mundane tasks everyday.
Business process automation thus refers to using software to streamline and improve business processes, such as human resources (HR), accounting and marketing.
It helps companies reduce costs and increase efficiency while enabling them to provide their customers with better service.
For example, if you can't find a mobile app that does what you need it to do, you can build it yourself using an API from another company's platform. This is how Uber was able to create its ride-sharing service using Google Maps technology.
3. Human resources
The increased usage in cloud technology has also revolutionized human resources (HR) operations, an area previously thought of as being immune to cloud transformation.
The cloud allows HR managers to store employee information in one place, increasing efficiency and productivity for the company and its employees.
It also makes it easier for employers to manage large amounts of data, such as payroll information or employee attendance logs, which allows them to make better decisions about their workforce.
For example, Scribe's onboarding tutorials enable easy and quick onboarding of new hires with just a few clicks of a button.
These Cloud HRM solutions are becoming increasingly popular among small businesses because they offer affordable solutions that are easy to use and can be accessed from anywhere with an internet connection.
Cloud HRM solutions allow employees to access company files easily from any location, which makes it easier for managers who need to manage remote workers or those who frequently travel for work purposes (such as salespeople).
For example, cloud-based HR software can help a company reduce payroll costs by automating many HR processes.
4. Financial management
Financial management is another area where cloud technology has significantly impacted operations and processes within organizations.
This is because it provides access to real-time data that can be used for reporting purposes or analyzed to make future business decisions.
Many small businesses don't have the resources or expertise to create their accounting systems, so they rely on third-party companies to ensure they stay on track with tax obligations, payroll systems and other financial tasks.
Now, cloud platforms for business organizations allow you to use software-as-a-service (SaaS) programs to automate those tasks, so you no longer need to manually enter data into spreadsheets or manage your software.
That frees up more time for your team to focus on other things like marketing or product development.
Marketing automation platforms help companies manage their customer data across multiple channels in real time.
They also allow marketers to automate repetitive tasks like sending out newsletters or creating personalized email campaigns that drive conversion rates.
Social media management tools enable marketers to monitor brand mentions online and respond quickly when there's an issue that needs addressing on Twitter or Facebook (or any other social network).
Cloud-based analytics and cloud platforms for businesses help companies understand how their customers interact with them across different channels and devices — from web visits to app downloads.
This helps companies adapt their strategies based on what works best for each customer segment, leading to better ROI on their marketing spend.
The cloud has enabled marketing to reach new audiences and create more customized customer experiences.
Marketing teams can now use a single platform to plan, execute and measure all their marketing efforts across different channels in real-time.
They can also use the same platform to connect with customers wherever they are — from social media to mobile devices.
8 Benefits of cloud computing
Cloud computing is a technology that allows companies to store and access data on remote servers.
Cloud computing for businesses can be accessed through the Internet, and it offers several benefits:
Cloud technologies enable businesses to scale up or down based on workloads. If your company grows, you can add more servers and storage as needed without buying new hardware or hiring additional staff to manage it.
The use of cloud technology also provides a platform for disaster recovery and backup services. You can store data offsite for protection against natural disasters such as fire, flood or earthquakes.
A company can rapidly increase or decrease its computing power as needed.
With the help of this new aspect of digital transformation, namely cloud computing, companies can also avoid investing in expensive hardware and software to handle peak loads instead of paying only for what they need.
That's why organizations like Netflix and Spotify can run complex software programs like video streaming services on top of Amazon Web Services, because it was built with scalability in mind.
This implies that a cloud-based system is scalable, which means it can grow with your needs.
This is a significant advantage over traditional IT infrastructure. With cloud computing, you can start small and expand as needed by adding additional processing power or storage space.
Cloud transformation offers better security than traditional IT systems because it uses multiple layers of protection to prevent hacking attempts from gaining access to sensitive data.
Cloud servers are located in secure data centers that use video surveillance systems and biometric authentication for physical access control.
These applications are often more secure than local software because they can be updated automatically when bugs are discovered instead of being patched manually by unskilled IT staff members.
Flexibility is another benefit of cloud computing because it gives companies more opportunities to collaborate with other businesses and share data across different locations.
Cloud computing also provides greater flexibility for employees who work at home or remotely and for telecommuters who frequently travel for work-related reasons such as sales calls or meetings with clients or suppliers (or both).
For example, if you start with just one application running on a cloud-based platform and later decide that another application would benefit from being run via the same platform, it's easy to migrate that application's data from its original location to the cloud platform without disruptions with the help of cloud-native observability platform like Middleware.
Cloud technology allows employees to work from anywhere across the globe so they no longer have to commute or waste time traveling between locations to use company resources like email or project management software.
It improves productivity by allowing employees to work from anywhere at any time. Cloud-based software also helps improve efficiency by allowing multiple users to access the same application simultaneously.
This makes it possible for employees in different locations to collaborate on projects and work together more effectively than they could if they were working with the same programs on their computers.
The technology behind the cloud allows companies to perform tasks more efficiently than ever before.
It will enable them to scale up or down as needed, which helps to monitor cloud infrastructure or train employees on new procedures.
Employees can access their work from any device, which means they can work from home or while traveling and still keep up with their responsibilities.
The ability to access information quickly also helps organizations make better decisions faster, leading to better outcomes for customers and shareholders alike.
Cloud systems are easier to manage than traditional ones because they require less training and maintenance.
This reduces overhead costs, which enables companies to focus on other priorities, such as innovations or customer retention, rather than managing infrastructure.
Businesses that embrace the cloud can easily manage multiple projects at once, giving them an edge over competitors who aren't as efficient at managing resources and people across various locations and time zones.
They also have more visibility into what's happening in their company than ever before, which makes it easier for them to identify problems before they become major issues — like a fraud — saving money on lost productivity due to downtime or security breaches.
7. Simultaneous operations
Cloud computing enables multiple users to access data at the same time.
This can lead to greater productivity and collaboration since employees can work on projects simultaneously rather than waiting for others to finish their tasks before they can start theirs.
With cloud computing, you can run multiple applications simultaneously without sacrificing performance or security.
You'll never experience downtime when using the cloud because your data is stored in numerous locations across the globe. If one area experiences an outage, others are available immediately, so your business isn't affected.
8. Cost savings
Cloud services are usually cheaper than buying and maintaining servers in-house because of economies of scale.
Most cloud vendors offer basic plans that cost less than $100 per month for small businesses with fewer than ten employees and mid-range plans that start at about $100 per month for small businesses with up to 100 employees.
The more employees you have, the more expensive it gets — but even large companies can get started with a low monthly payment plan since most vendors offer discounts based on usage volume.
Cloud computing can reduce IT costs by as much as 90% compared to traditional on-premises infrastructure.
This means that you pay only for what you use and don't need to invest in hardware and software that will be underutilized or go unused for much of the year.
You don't have to hire additional staff to manage your network or handle upgrades or maintenance.
Companies large and small are changing their business models as they start taking advantage of cloud technology. If your business has yet to do so, now may be the time for you to reconsider.
This is because the potential benefits of cloud computing will not be ignored by business owners, developers, and investors for long. It's all part of making the most of technologies that continue to gain popularity.
It's allowing us to do more with less, which, as any small business owner knows, is crucial for staying competitive in today's world.
And that's only the beginning. Cloud computing for businesses is creating a better way of doing business for everyone—and it only stands to get better from here.
Srushti Shah is an ambitious, passionate, and out-of-the-box thinking woman having vast exposure in Digital Marketing. Her key focus is to serve her clients with the latest innovation in her field leading to fast and effective results. Working beyond expectations and delivering the best possible results in her professional motto. Other than work, she loves traveling, exploring new things, and spending quality time with family. Reach out to Srushti Shah on Twitter or LinkedIn