Enterprises of all size be it medium, small or large are going towards Cloud Computing & adoption to stay relevant, competitive and benefit from the new age digitalization by over hauling their data structure in a secured atmosphere. To withstand competition MSME’s need to adopt a holistic approach towards cloud adoption keeping in mind the financial
implication at an affordable cost.
Various factors come to mind when we think of cloud adoption at an affordable
cost and budget friendly considering that cloud and cloud computing is not same
and is a different altogether.
Understanding Cloud Computing & Impact on Businesses
Cloud computing allows enterprises to rent services like data centre which runs
on the internet and is a demand on delivery of IT resources. But when we talk
about cloud services we talk mainly about cloud storage. Other than storage
there are different kinds of services like technology services which are offered
by cloud service provider. These services can be priced or purchased as per
requirement.
Business requirement allows usage of 4 different types of cloud like public cloud,
private cloud, hybrid and community cloud. Being a virtual resource cloud helps
business store, organize and operate data efficiently.
MSME’s operate mostly on limited budgeting and bring around lot of innovation by
implementing various upgraded technology to maximize performance. So how
cloud computing can help MSME’s bring in scalability and efficiency is a big
question. MSME’s generally suffer from low level tech upgradation due to lack
of funds.
Here cloud computing play a relevant role as data is concerned and can be
stored and used safely and business can choose a suitable plan as per requirement.
Third parties help enterprises with updated features including strict verification
from cyber security point.
Enabling Trends in Cloud Computing for Business Benefits
For MSME’s cloud computing is a boon from the point of business expansion with
new line of services and partners, accessing application from anywhere be it in
on premise or remote and being cost effective.
Being a cost effective and provider of real time updates and time saving solution,
enterprises of all sizes can explore and use most of the features of cloud computing.
Teams working in projects can connect on real time data from anywhere and
collaborate and update as per requirement or access any changes made by team
member.
For MSME & SME’s keeping tab on their budgeting is important. Having a cloud
computing environment saves from heavy capital expenditure that is required
often in setting up on premise IT infrastructure. Migration to cloud services helps
to save’s from data center operating cost as enterprises shifts to vendors’
infrastructure, saving cost and bringing in whole lot of business benefits.
With cloud scalability in organizations can be improved, bring in efficiency which is
possible with whole amount of services offered by cloud services and bring in
advantages for MSME and SME’s long term. Org’s can take packages as per
requirement and work flow, later on scale up if demand increases Remote working
is now a part of the ecosystem and cloud based solutions helps implement secured
remote working applications that can be used by employees from anywhere, enabling managers to track productivity and harnessing business benefit implementing cloud computing.
An inherent strength of MSME and SME sector is these sectors can be set up
with very small amount of investments and can be located anywhere with
good amount of employment potential.
Cloud as an enabler is a huge potential to maximize profits and bring in agility
in day to day operations. Often there is lack of coordination among stakeholders
or institutional partners. With cloud computing, data and resources are assembled
under one roof helping in coordination and better planning.
For more information: https://smeventure.com/prioritizing-cyber-security-strategy-for-2023-to-keep-cyber-threats-at-bay/
To be in a level and compete with other sectors MSME need to have affordable IT
based services which is often missing due to high cost of various applications. As
many end user are remotely located or in different countries it become paramount
to have cloud based solutions to meet the requirement and connect the distributed workforce and businesses as well.
Challenges MSME face in adopting Cloud Computing Services
MSME’S often faces a challenge regarding adoption of such technologies and
Banks or other financial organizations often evaluate internal financial viability
of cloud technology.
Since Banks are involved they often need to compare the benefits of their currently
deployed model with that of cloud solutions. If the benefits offered by cloud
computing solutions outweigh the costs of implementation then its viable to adopt. Otherwise they will be hesitant to deviate from their current model specific to
areas where cloud adoption is dictated by the core banking providers.
Often cloud technology is hampered by a lack of stable internet speeds. Many of
the MSME based outlets or workshops are based in remote locations or employees
are located in such areas where a stable internet connection may be difficult all
time. Without adequate connectivity, many of the benefits that cloud technology
and other cloud-based applications bring are not harnessed to their maximum
potential.
Do watch: https://www.youtube.com/shorts/mxmhEv0xPgM
To enable business like MSME and SME ripe benefits of digital economy it is
essential that few significant gaps and barriers be worked upon .These can
range from legal and IT framework, having a better coordinated strategy with
cloud providers, agility in application usage and training to get skilled professionals.
When it comes to cloud adoption there are many regulation where cloud-based
solutions are not allowed be it from banking or financial institutions. MSME’s need
to decide on their existing infrastructural technology systems, remove impediments
and enable smoother adoption of cloud computing technology to secure relevant
Data and use them efficiently.