Fashions come and go in business technology, as in life, but in the last few years nothing has spelled change so much as cloud. It has brought huge advantages to the small and medium sized operator and shows no sign of going away.
Here are 5 good reasons why fast growing businesses need cloud technology to grow.
1. Compete on a level playing field.
Early adopters loved cloud because it allowed them to compete on the same basis as their larger counterparts. Business software was no longer the exclusive preserve of big enterprises. Now anyone with an internet connection could link operations across thier business and access everything from one central dashboard. If you were a small manufacturer or a retailer with a website you were suddenly in business and it’s still true today.
2. You need digital to innovate
The arguments for cloud have been getting more urgent. Frank Gens, chief analyst and senior vice president of IDC research says;
“If you’re not in the cloud, you’re isolated from innovation.”
That’s quite a stark warning! He sees cloud is an enabler, giving companies the agility to switch things up as the landscape changes. His advice is to operate like a flexible start-up with a digital first mentality – take a look at the Fin Tech sector – they’ve been able to move in on traditional banking using their agility to steal market share.
3. Get Future Ready
No one can avoid the siren call of future technologies – some of them are already here. AI, Machine Learning, IoT? How about Augmented Reality (AR), Virtual Reality (VR), and Blockchain – all are accessed via the cloud – so if you want to play, that is where you have to be.
4. Fast Growing Companies Need a Digital Core
From start-up to scale-up, businesses in the next phase of growth need cloud more than ever – data needs organising and processes need formalising. You can’t keep your client lists or customer order books on spreadsheets for ever. Time to establish solid foundations and good business processes accessed via the cloud.
5. Attract investment
A company which has already invested in a smart cloud based digital core makes for a very attractive proposition. Whether you are looking for invetsment or a buy out, you will be in a very good place if you have already put your cloud based business technology in place. There are many such business suites on the market including SAP Business ByDesign for fast growing companies who want to turn growth potential into real results.
Cloud-based ERP solutions are usually quick to implement coming straight out of the box, and are surpringingly affordable. They connect every function across your business based on best practice and offer in-depth analytics as standard.
So heed the advice of the analysts who know and make the most of cloud for growth – for years to come.