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How Cloud Computing Will Impact Businesses in 2018

How Cloud Computing Will Impact Businesses in 2018

As businesses enter the first quarter of 2018 all the focus is on how organisations can use technology to stay competitive and achieve their 2018 business goals. One of the main areas where exponential growth is expected is in the growth of cloud computing, which has expanded rapidly in the recent past and has been adopted by many industries including accounting.

The quantum leap of cloud-based services

In cloud technology applications run on servers enabling businesses to access their data online whenever and wherever the information is required. This has lead to the growth of Software as a Service (SaaS) where third-party providers host applications and make them available to customers over the Internet.

Whereas in the past, software would generally be purchased outright and loaded onto a device, SaaS is a software licensing and delivery model where software is licensed on a subscription basis and is typically accessed by users using a web browser.

SaaS has brought significant benefits to businesses in all sectors. These include:

  • High adoption: SaaS applications are available on any device at any time. Most people are very familiar with using the Internet and accessing SaaS is as simple as opening a browser and logging on. As a result, SaaS tends to have higher adoption rates with lower learning curves.
  • Lower costs: Instead of companies having to invest in extensive hardware to host large software packages and purchase perpetual licenses, they can simply pay an annual or monthly subscription fee – which typically includes the software license, support and most other fees. This allows small and medium businesses to use software that they would otherwise not be able to afford due to the highs costs of license and maintenance.
  • Scalability and integration: SaaS solutions reside in cloud environments that are scalable and have integration with other SaaS offerings that extend the scope and functionality of the software. Xero’s integration with Receipt Bank is a prime example of how Xero users can now let their expenses data flow from the Receipt Bank account to where they need it, with no extra data entry required. In addition many SaaS vendors like Sage One provide businesses with APIs that let them integrate with existing ERP systems or other business productivity systems.
  • Painless upgrades: SaaS providers manage all updates and upgrades for customers to download or install, so customers don’t have to purchase anything additional – they are always using the latest and most innovative software.

Cloud computing increases capacity and security

Cloud computing provides businesses with increased data storage capacity and enhanced security. Data storage in the cloud is unlimited and grows as a client’s business grows. In addition, because no data exists locally, it’s securely protected from device theft or damage relating to a natural disaster like an office fire. The growth of cloud storage is expected increase rapidly to an estimated storage size of 1.1 ZB according to a recent Cisco survey.

As the storage size increases, so too do the opportunities for innovative businesses, who use the increased space to store large data sets, perform increased analytics on the data and gather valuable insights relating to strategic financial investments and customer behaviour.

The rise of the Internet of Everything (IoE)

It is expected that in 2018 the Internet of Things (IoT) will transform into the IoE due to continuous innovation in real-time data analytics and cloud computing. IoE will rely on cloud computing to house the complex systems aimed at simplifying all interactions – from enabling humans to interact intelligently with machines and services to enhancing human-to-human communications. The basis for IoE will be cloud-based data, which can be used in a myriad of ways from simplifying human experiences using smart robots to anticipating services in real time.

The holistic approach to business growth

At GGD accounting and business solutions, we understand that every business has different needs and requirements. As experts in Xero Accounting Services, we are able to offer the very latest cloud computing SaaS advantages, providing our clients with high-quality, scalable, real-time service that enables them to become more productive and efficient. As a Sage Platinum Business Partner, we are able to offer businesses the option of Sage’s latest on-premise software or leading payroll and accounting solutions in the cloud with Sage One.

Our years of financial experience mean we don’t just provide clients with software, we also offer experienced consulting services that include software installation, training and on-going support. As with all our financial services, our aim is to streamline your company’s financial processes in order to grow your business and maximise returns.

For more information about our cloud-based Xero and Sage Pastel software options, contact us today.

 

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