Since its debut and subsequent popularity, the cloud has become synonymous with “cost-effective,” “cheaper” and “inexpensive.”
As a result, more and more businesses are eager to learn about cloud computing and its benefits. However, is there any validity to those claims?
The cloud does bring serious cost savings – it’s no myth. How does the cloud save you money? Here’s a few ways:
- Pay only for what you use: The cloud lets you scale your service – paying for only what you use in terms of how many users you need, what storage you need, and various other factors.
- Eliminate hardware purchases, maintenance, and support fees: Let’s face it, hardware costs add up fast – from purchasing the hardware itself to paying for maintenance and support.
- Reduce costs associated with power consumption: When you have servers on-premise, it’s taking up a lot of power, but when you’re condensing hardware with the cloud, you save on energy costs.
- Enhance productivity amongst staff members: The cloud gives your employees the ability to get more work done outside of the office, and of course, this makes your company more profitable in the long run.
The highest value, however, is gained through transfer of risk. By transferring the risk of hardware failure to the cloud provider, your company can re-direct financial resources to initiatives that promote other business goals. In this way, prospective cost savings are substantial when you consider that the cloud provides for risk mitigation.