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5 cloud computing benefits you should know

Cloud computing has transformed business around the world, making work quicker, easier, and cheaper to do. In today’s world, if you’re not working from the cloud, you risk getting left behind.  Here are 5 benefits of cloud computing that you should know:  

1. The cloud is cost effective 

When you use cloud applications, you access your software and data over the internet.  Usually, you pay a monthly or yearly subscription fee for your software, which is very affordable for most businesses. This price includes all aspects of the service, including data storage, data security, system maintenance, and continual updates and improvements. There are no hidden extras to look out for.  

With everything included in your recurring payment, you can closely manage your IT spend and may be able to reduce some of your overheads. For example, you may no longer need so many dedicated IT resources, and may not need to invest in, maintain and run expensive, energy-intensive hardware systems to store your business data.  

2. The cloud is highly secure 

When you use the cloud, your data is protected by state-of-the-art physical and cybersecurity measures. Your data is housed in offsite data centres, where it is automatically backed up and replicated across servers in different locations. Each data centre is highly secure with electronic surveillance, multi-factor access control and security guards in force. 

Naturally, cybersecurity is also critically important.  Typically, cloud providers use firewalls to block any suspicious traffic coming into a network, encrypt data when it’s stored and when it’s in transit, and use artificial intelligence to identify and patch any security vulnerabilities. It’s the business of cloud providers to anticipate and block cybersecurity threats, so they use the latest technology and insights to lead the market. Therefore, when you’re on the cloud, you benefit from the latest and greatest security measures available.  

3. The cloud allows you to work from anywhere, any time 

Using cloud software enables you to improve efficiency and lift productivity in your business. As you access your software and data over the internet, your employees can work from anywhere, anytime they have an internet connection. This means that your team can work in the way that suits them best, helping them to achieve their best work. Many cloud solutions also provide dedicated mobile apps, which allow users to carry out simple tasks on the go and get more out of their day.  

Working from the cloud enables collaboration between team members, regardless of their physical location. With multiple users able to access data and applications concurrently, they can work together to brainstorm and achieve the best outcomes in the most time-efficient way. Further, the connectivity of the cloud enables a faster, more responsive customer service, which in turn can help generate increased sales and revenue.   

4. The cloud helps with business continuity 

With the ability to access your business data over the internet, you can keep working online from any device. In contrast, if a disaster happened in your place of work and your computers or servers became damaged, you could lose critical data and the ability to run your business. Having your data secured and backed up offsite helps your business to be more resilient in the case of a disaster.  

5. The cloud helps you breakdown data silos 

Many businesses have a combination of cloud and desktop software. However, there are significant benefits of migrating all your systems to the cloud. With a cloud business management platform, when you update details in one application, this information flows through all connected software. This removes data silos from your business and means you have a centralised source of truth for your key business information.  

With your workflows digitised and connected, you can also automate everyday business processes to further increase operational efficiency and free your staff up for higher value work. 

Unlock your potential with MYOB 

MYOB is a business management platform that allows you to maximise the benefits of cloud computing. With MYOB you can become more efficient and productive, while gaining visibility and insights into all areas of your business’ operations and performance.  

With software solutions across a business’ six core workflows - customers, suppliers, projects, employees, finance, accounting and tax - MYOB allows you to manage your entire business in one place. Only pay for what you need today and scale your platform as your needs change tomorrow, with MYOB you’re future ready. 

Try FREE for 30 days.

Disclaimer: Information provided in this article is of a general nature and does not consider your personal situation. It does not constitute legal, financial, or other professional advice and should not be relied upon as a statement of law, policy or advice. You should consider whether this information is appropriate to your needs and, if necessary, seek independent advice. This information is only accurate at the time of publication. Although every effort has been made to verify the accuracy of the information contained on this webpage, MYOB disclaims, to the extent permitted by law, all liability for the information contained on this webpage or any loss or damage suffered by any person directly or indirectly through relying on this information.

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