How To Tap Cloud Computing To Obtain A Competitive Advantage

How To Tap Cloud Computing To Obtain A Competitive Advantage

Because of the popularity of the digital global economy, any investment in technology by small and medium-sized enterprises can provide them with a competitive advantage. Cloud computing has allowed small enterprises access to data systems which were once available only to huge corporations. Automatic data backup in the cloud reduces cost and even maximizes the cost flexibility of the company’s IT services and software. IT issues have also been reduced because the cloud computing service provider takes responsibility for such matters. Small businesses can then focus their efforts on other things, allowing them to grow their businesses. With cloud computing, small entrepreneurs can work anywhere, anytime.

Most businesses employ people who are either working from home or are always on business trips. Their suppliers, as well as their customers, may be found in other countries. Using cloud computing technology can increase the business’s productivity. KPMG released a research report in Australia suggesting that the adoption of cloud computing services could increase the Gross Domestic Product by as much as $3.32 billion annually after ten years. A business website can derive  greater advantages, as it can help to expand the business customer base, increase business credibility and visibility, and identify untapped revenue streams. Research by MYOB also found out that almost two-thirds of small and medium-sized enterprises in Australia do not yet have websites, and that those which have an online presence are starting to enjoy better operational and financial milestones. Contrary to common misconception, creating a website is easy, and there is no need to employ specialist IT personnel for the sole purpose of creating one.

Online retail and e-commerce are currently experiencing a surge as more and more customers turn to websites for their shopping needs—these clients can shop at the comfort of their homes. Many online stores provide money transfers and payments over the Internet, and even traditional brands are creating online stores in order to compete with online businesses and seeing an increase in revenue. Small and medium-sized businesses must consider going online in order to grow quickly.

In order to better communicate, segment, and understand their customer base, companies must be able to tap technology in order to explore opportunities and streamline operations. Employing high-quality workers is also a factor in gaining a competitive advantage. The use of old technology is a detrimental factor to business growth, because new technologies have been found to reduce costs and increase productivity. No business would be able to hold onto tech-savvy workers if its technology were not up to date.

It is important to note that when a business decides to bring its business online, it is not only offering lower prices, but also better service and greater efficiency. Although many customers are drawn to online shopping by price, the reputation of the business and quality of service play an important role in customer decisions to purchase online. By investing in technology, a business can support customers’ need for an innovative shopping experience. Software applications are available in order to assist online shop owners so that they can understand and know their clients and be able to respond to their requirements. The use of new technology can equip a small business owner to make informed decisions regarding retention and expansion of their customer base as the business deals with the challenges brought about by its online competitors.

By Florence de Borja

One Response to How To Tap Cloud Computing To Obtain A Competitive Advantage

Recent

Wearable Tech Jobs Of The Future

Wearable Tech Jobs Of The Future

Wearable Tech Jobs Wearable Technology is a very exciting industry and the sky’s the limit with new possibilities for businesses and consumers. The new technologies will make our lives easier in terms of convenience, while in other ways more complicated due to learning curve of each new product. Lets take a look at wearable tech in…

How M2M Differs From IoT Internet of Things

How M2M Differs From IoT Internet of Things

What Is M2M Machine To Machine? When it comes to communications between machines, the terms Machine to Machine (M2M) and the Internet of Things (IoT) are seemingly similar to each other. In fact, there is a very strong connection between both terms which is why they are often used as the same. However, that is…

Cloud Infographic – Top Vulnerable Applications

Cloud Infographic – Top Vulnerable Applications

Top Vulnerable Applications  As you use the Internet on a daily basis, you probably come across cyber security topics, but rarely glance at them twice. After all, cyber security threats don’t concern you, right? Well, that’s not exactly true. Cyber attacks are more widespread than you can imagine and they may be targeting your devices as…

Popular Archives

Wearable Tech – Will It Ever Be Fashionable?

Wearable Tech – Will It Ever Be Fashionable?

Wearable Tech – Will It Ever Be Fashionable? Wearable tech is taking over the world, and in that sense, it’s already fashionable. As we noted last week, the sector is expected to grow from $14 billion in 2014 to $70+ billion in 2024. But what about ‘high-fashion’? The catwalks and runways of London, Paris, and Milan? Can…

5 Surprising Ways Cloud Computing Is Changing Education

5 Surprising Ways Cloud Computing Is Changing Education

Cloud Computing Education The benefits of cloud computing are being recognized in businesses and institutions across the board, with almost 90 percent of organizations currently using some kind of cloud-based application. The immediate benefits of cloud computing are obvious: cloud-based applications reduce infrastructure and IT costs, increase accessibility, enable collaboration, and allow organizations more flexibility…

Sponsors

The Many Hats Of Today’s IT Managers

The Many Hats Of Today’s IT Managers

The Many Hats of IT Managers In years past, the IT department of most large organizations was much like a version of Middle Earth: a mysterious nether world where people who seemed infinitely smarter than the rest of us bustled around, speaking and typing languages that appeared indecipherable, yet, which made our world work. They…

Selling Your Business To Your Employees

Selling Your Business To Your Employees

Mobility For Your Employees It may seem a radical notion, the idea of selling your business to the people who work for you, but this is the era in which we now work. Employees of all levels are all incredibly aware of their options when it comes to mobility and employability. This doesn’t mean that…

Established in 2009

CloudTweaks is recognized as one of the leading influencers in cloud computing, big data and internet of things (IoT) information. Our goal is to continue to build our growing information portal, by providing the best in-depth articles, interviews, event listings, whitepapers, infographics and much more.

CloudTweaks Comic Library

Advertising