“Time is money” – Benjamin Franklin
All of this technical information about the cloud is a good level set, but what is the value of this technology for my business?
- Faster time to market. Ability to deploy applications and business functionality quickly. In addition, the ability to quickly spin up a service allows the business the opportunity to test products, markets, and business processes quickly. This ensures the business can make informed decisions before making a larger investment and waiting for IT to implement required technology to pilot different solutions for the business. So, faster time to market – increasing revenue. Connecting with and acquiring customers more effectively with higher customer satisfaction – increasing revenue. Real-time information enabling more informed and faster business decisions – increasing revenue. So in general, when these technologies are applied with a plan that is aligned to the business strategy they should have the most important impact on the business – increase revenue.
- Increase productivity. Ready access to new applications and services, the ability to collaborate with customers and colleagues instantly, and on-demand access to critical information will increase the productivity of your workforce. This coud increase revenue as well.
- Reduce capital and ongoing maintenance costs. The financial analysis should be done on all investments, but in general, a cloud service will allow you to move from a capex to opex cash flow and will reduce maintenance costs as the service should typically be less than what it would cost you to deploy the technology internally. This could increase profits.
- Current technology. Most businesses skip one to two application releases due to the cost of upgrade and impact to the business. Cloud services will be kept current and you will always have the latest and greatest technology available to you to leverage in your business. This enables the first point.
- Ubiquitous access and global distribution and availability. For those of you that have been mobile or lived in remote offices, you know that you have not always been afforded the same level of service and functionality as the home office. Cloud applications can be distributed anywhere around the globe and have the same highly available service levels at any location. This gets back to increasing productivity.