Updated: Jul 6, 2022
“Change before you have to” or so says American business executive Jack Welch, who served as the Chairman and CEO of General Electronics (GE) from 1981 to 2001. Welch may not have been referring to cloud software, but taking these words to heart and adopting cloud solutions for your business can definitely transform it in more ways than you can imagine.
According to a study, 72 percent of small businesses in Malaysia alone would have completely adopted cloud software for their business operations by 2025. As more companies embrace the benefits of migrating to cloud solutions, here are three reasons why you should too:
1. Cloud Solutions Reduce Costs
Cost savings is one of the most significant advantages small businesses stand to gain when transitioning to cloud software. Previously, it would be common for companies to require specific IT teams for hardware maintenance, but with a unified cloud solution, this will no longer be necessary. Already using software? The right cloud solution can help you save costs further by reducing the headcount required to run your business. For example, you no longer need to hire accountants specifically for number crunching because an ERP cloud software automatically takes care of all those tedious tasks. You’ll also eliminate data silos and the need for separate software across multiple departments (e.g. Accounting, Inventory) because some ERP solutions come with both accounting and inventory features that allow cross-function data syncing and reporting. Moving your business to the cloud can save you hardware and software costs, freeing your cash flow for more important parts of your business in the long run.
2. Increase Productivity and Collaboration
It’s not uncommon for companies to have more than one person working on the same project. With cloud software, it’s easier for employees to collaborate online and keep projects moving more efficiently. They can also save updates made to documents anywhere, pick up where they left off with ease, and even notify team members of changes made through instant notifications. The ability to assign different users to different tasks and track task completion through detailed activity logs also gives business owners more visibility on employee productivity. In the long run, these streamlined work processes increase workforce productivity without compromising on the quality of work.
3. More Secure, 24/7 Remote Access
Checking emails and accessing important files can sometimes happen on an urgent basis, outside of the office. Cloud software enables access to essential work files on any device whether they’re in the office, at home, or even on vacation. Today’s cloud software also comes with improved security and data encryption to reduce data breaches. This includes the flexibility to limit and vary different levels of security access employees get to ensure sensitive data doesn’t fall into the wrong hands.
Modern technology has opened doors to more opportunities that improve the way business owners run their business. Staying on par with contemporary business standards is a must for growth, and adopting the right cloud solution can give your business an edge over your contemporaries as you move closer to digital transformation.
Fintech Rakyat specializes with helping businesses grow by changing the way they operate so they can run more efficiently and effectively. Our solutions are designed to solve SMEs’ pain points, improve processes, and built to scale with growth through the use of cloud technology. Contact us to learn more about our solutions and services!