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How Can Cloud Service Reduce Costs For Your Startup?

20 September 2021 | 0 comments | Posted by Danielle Roy in Industry Experts

Startup savings with cloud computing

As a startup in 2021, you now have access to industrial level services that were not afforded to the previous generations of startups who had to run everything in-house on their equipment. These economies of scale and lower barriers to entry have seen the startup market explode as more people can test out their ideas at a lower cost.

One of those advances would undoubtedly be cloud computing which has revolutionised how we do business these days. So what exactly is cloud computing, and why does it make running a startup easier?

What is cloud computing?

Cloud computing is the use of servers to manage, store and process information and data. The servers are accessed remotely through the internet, and the entire process occurs online. The data is stored on remote servers, which can be accessed from multiple devices from different locations.

When you use Gmail, Facebook or Dropbox, you use cloud computing to store data that can be accessed very easily.

How can you save money by using the Cloud?

Save on software and hardware.

The more significant is the business, the bigger is the need for equipment. You will need many computers and depending upon your data you will require lots of storage. A server room and the need to update will drain your money.

The hardware and the space required to accommodate the equipment along with the electricity bill will keep increasing your overall bill. That’s a lot of money.

With the Cloud, your vendor will take care of the hardware while you can access your data from any computer and operating system at any place in the world. The on-site hardware required becomes less with Cloud meaning that Cloud will be handling most of your hardware needs.

After saving on hardware, let’s talk about the software. When you purchase cloud services, you get access to software and databases. You pay as you go meaning that you pay for only the software in use, and you can cancel at any time. The upfront cost of Cloud is also less than in-house solutions.

The software is kept up to date, and upgrades and patches are installed automatically, making sure your work is never slowed down, so whether you offer SEO services in Connecticut or deal with fashion, Cloud computing can revolutionise your brand and its image while saving up quite a bit of money!

Save on security.

Nowadays, everyone has a virtual identity. From Facebook to Outlook, platforms allow you to project your personality and ideas to influence people. From personal Id’s to company profiles, there is plenty of data online.

That data is sadly prone to risks! According to a 2019 article by Forbes, in the US, the average cost of a data breach can range from $3.54 Million in 2016 to $8.19 Million in 2019. That’s a lot of money! And while hackers can find you anywhere, Cloud offers you a safer alternate.

Cloud providers offer cloud backups which are tools to safeguard your data against breaches. You do involve a 3rd party, but as they are experienced individuals so you can rest assured that your data is in good hands.

While choosing a cloud vendor, make sure that they offer top of the line firewall solution. The firewall scans files to maintain their integrity. Encryption is another safety option. Encryption prevents hackers from accessing your data that can cause huge losses.

Save on maintenance and investment.

If you opt for the Cloud, you need minimum on-site hardware. The high-tech hardware that keeps the work going is controlled and maintained by the cloud vendor. They repair and operate it on their own, saving you money on bills and office space.

You will save up on third party upgrades, and your staff will be able to focus on other business matters. Another great perk is that regardless of your budget, the Cloud has something for everyone.

If you have small capital investment, then rather than buying hardware, software, hiring a team and buying/renting office space, you can buy cloud services and scale up with a limited team. Many businesses fail in the beginning as they can’t keep up with the financial load, but if you choose Cloud, you can save up.

Save on staffing.

Experienced employees don’t come cheap and can take up a considerable part of a company’s investment. Hiring is also a long process that can be pretty daunting. Cloud takes this burden off your shoulders. With lesser staff requirements in the IT department, you save paying the staff and can spend that amount elsewhere.

You will require a smaller number of employees with mid-level skills that work part-time at the central portal where cloud services are being used.

Conclusion

In this article, we went through the introduction of cloud computing and how it will help you save money. With less hardware and software, you will save up a massive part of your investment. You also won’t have to maintain complex equipment and won’t be required to keep a big staff to manage the IT department. Cloud services will free up a considerable part of your revenue that can be spent to expand your business and keep it going!

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Recommended reading

If you enjoyed this post and have time to spare why not check out these related posts and dive deeper down the rabbit hole that is starting a business.

Tags: Startup, Cloud Services, Guest Post

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