Technology and its development is at our core and we have successfully been using cloud computing and online software to make our business practices more efficient and automate our processes (INCLUDE XERO). I will take you through ten benefits of cloud computing which will give you an insight into how cloud computing software could help you run your business.

  1. Flexibility

Cloud-based services are ideal for businesses with growing or fluctuating demands. If your needs increase, you can easily scale up your cloud capacity, however if you need to scale down again, the flexibility is baked into this service. The agility can give businesses competitive edge and makes business growth easier, more likely, and more feasible.

  1. Disaster Recovery

Regardless of the size, all businesses should be investing in robust disaster recovery. However, for smaller businesses, expertise and cash might be lacked. Cloud computing nowadays helps more organisations to buck that trend. The ability of software to provide recovery solutions and implement cloud-based backups ensures you’ll never lose your work. Also, it avoids large investments into disaster recovery systems.

  1. Automatic software updates

Part of the beauty of cloud computing is that servers are off-premise and out of sight. You just have to roll out regular software updates, including security updates, meaning you do not have to worry about wasting time maintaining any systems yourself. You can therefore focus on things that really matter: running and growing your business.

  1. Capital-expenditure Free

Cloud computing cuts out high expenses of hardware. More often than not, you simply pay as you go and enjoy a subscription-based model that is cost-effective, such as with Xero, Receipt Bank, and Futrli. Setting up software and managing it is rather easy as well.

  1. Increased Collaboration

When your teams, and clients, can access, edit, share, and discuss documents at any time and from any location, collaboration is fostered. Cloud-based workflow allow them to make updates in real time and gives all parties full visibility of their collaborations. This is particularly beneficial for Receipt Bank and Xero, both providing bookkeeping solutions to SME’s, as businesses and clients can access bookkeeping documents and financial statements at the same time

  1. Work from anywhere

The only thing you need is an internet connection. With most serious cloud services offering mobile apps as well, it does not matter which device you have got to hand. As a result, businesses can offer more flexible working perks to employees so they can enjoy the work-life balance that suits them.

  1. Document Control

A great need for watertight document control is needed in the online world. When you make the move to cloud computing, all files can be stored centrally and everyone sees one version of the truth. More importantly, all documents are stored safely. A software we use at The Peloton, Futrli, offers live access to up-to-the-minute financial data pulled directly from Xero, allowing clients to see exactly where their business is going. A safe access system is built in with this software, giving only the business owner and the accountant permission to look into the data.

  1. Security

You are no longer dependent on whether your electronic device works or not. Cloud computing gives you great security when laptops, phones, computers, or tablets break or get lost. Data is stored in the cloud, meaning that you can access it no matter what happens to your device. You can even remotely wipe data from lost laptops so it does not get into the wrong hands of people who are not meant to see it.

  1. Competitiveness

Moving to cloud computing gives you access to enterprise-class technology, for everyone. It also allows smaller businesses to act faster than big, established competitors. Pay-as-you-go services and cloud business applications mean that small business can compete with the larger ones, and disrupt the market, allowing for greater competitiveness within it. We highly recommend looking into moving toward cloud computing if you are a small or medium-sized enterprise, as it enables your organisation to grow faster.

  1. Environmentally friendly

Last but definitely not the least, online services and cloud computing eradicate the need to use paper, and minimises waste. When your cloud fluctuates, your server capacity scales up and down to fit, ensuring you only use the energy you need. You will no longer leave oversized carbon footprints.

Feel free to get in touch if you have any queries regarding online software or moving towards cloud-based computing: hello@thepeloton.co.uk