Why move your business to the cloud? | SEI (2024)

FAQs

Why move your business to the cloud? | SEI? ›

Save money. Moving to the cloud may sound like an expensive investment, but it typically provides a strong investment return. In fact, companies on the cloud report an average cost savings of 92%.

The main reasons why cloud computing is important for business is that it allows organizations to scale, maintain flexibility, and focus their efforts on business operations – not managing complex IT infrastructure. One of the best ways to optimize cloud computing for your business is by working with a cloud partner.

The cloud delivers more flexibility and reliability, increased performance and efficiency, and helps to lower IT costs. It also improves innovation, allowing organizations to achieve faster time to market and incorporate AI and machine learning use cases into their strategies.

Reduce IT Costs

One of the more common reasons why organizations embark on a cloud migration is to reduce IT infrastructure costs. In the cloud, IT leaders can easily right-size computing resources according to unique business requirements and cut wasteful spending.

1. Cost Savings. Among the many reasons to migrate to the cloud, you can find that cost savings is an essential one. By using cloud computing, you can access processing and storage capabilities for less money because you won't have to make significant upfront hardware and infrastructure investments.

Moving to the cloud may sound like an expensive investment, but it typically provides a strong investment return. In fact, companies on the cloud report an average cost savings of 92%. That's a lot more than companies that aren't on the cloud, which, when surveyed by VentureBeat, reported an average 43% cost savings.

Improved Efficiency: After migrating to the cloud, you no longer need to worry about power requirements, space considerations, expensive computer hardware, or software updates. You get to keep your entire company focused on generating revenue and relationships, not on IT.

Cloud software advantages

Affordable – Cloud requires no upfront costs, instead you make regular payments which makes it an operating expense (OpEx). While the monthly cost adds up over time, maintenance and support services are included removing the need for annual contracts.

Why are businesses embracing journey to the cloud? ›

Cost Efficiency

One of the primary reasons businesses opt for cloud migration is the cost-efficiency it offers. By moving to the cloud, businesses can avoid hefty upfront costs associated with building and maintaining physical infrastructure.

Cloud migration is essential for businesses aiming to enhance operational flexibility, reduce costs, and improve scalability. Moving from on-premise to cloud storage can improve data accessibility, allowing employees to work remotely with ease.

Data security and regulatory compliance are major concerns as organisations move to the cloud. Data and applications hosted on the cloud must be secured at the same level as on-premises data centres. Some cloud deployment models are better suited to this than others.

A career in Cloud computing offers limitless opportunities and impressive career prospects. There is a range of different industries that currently use Cloud technology, including global banks, military organisations, hospitals and car manufacturers.

The goal of your cloud migration program is to get the agility and cost savings of the cloud while keeping data and application processes secure, both during and after the migration. Here are six steps your cloud migration process should include, using a SaaS application migration as an example.

Benefits of Cloud Migrations

Flexibility and scalability: Cloud migration ultimately offers companies more flexibility because they can scale server needs up and down as business requirements fluctuate. For a similar reason, cloud services are ultimately more scalable and efficient than on-premises solutions.

Cloud storage allows people and businesses to house their essential data off-site, rather than relying on traditional hard drives. The data is stored in a large server controlled by a chosen cloud storage provider, which is then easily accessible by the user, as and when it is needed via an internet connection.

Flexibility is one of the most important benefits of cloud computing, as it allows access to applications and data from anywhere, through a simple internet connection.

Cloud-based platforms. Cloud-based platforms enable large enterprise businesses to build, test and deploy applications, and store, back up, and recover data. Types of cloud-based platforms include: Public cloud: Third-party providers that deliver computing resources over the internet for multiple businesses.