Cloud computing has evolved a lot ever since its inception. It first started with the hope to centralize server capacity. But today, it is bound by thousands of service providers, both big and small.
Yet there are still companies with little to no understanding of the cloud. A PwC survey found that more than 53% of firms are yet to realize the substantial value of cloud investments. This can prove costly to organizations since economic uncertainty is growing.
Today, cloud computing has reached a crucial juncture where business leaders must change their approach to the cloud. The urgency is more than you realize. So, if you haven’t thought about it yet, it’s time to do it.
You’re Investing in Agility and Not Capacity
Most companies are going through some kind of digital transformation today. Cloud platforms have helped them from the very beginning by offering fundamental tools.
Cloud platforms have replaced the physical infrastructure of firms with virtual environments and solutions. It means there will be no need for hands-on management or physical footprint anymore. However, there is more to cloud computing than just that.
With cloud computing, you aren’t just buying agility but the capacity to operate, change or scale your enterprise. So, what took years to create can be done instantly over a night. This unlocks potential and budgetary creep.
Leaders must not see the cloud as a cheap operating model but leverage its agility and keep costs down.
Think of Managing Creep and Getting Maximum Value
Before employing cloud services, you must be aware of whether your business needs storage capacity or computing power. You also need to acquire new business models, upskill employees with digital tools and engage the services you got.
Furthermore, your firm must innovate faster, avail of low-code/no-code solutions, and create better experiences for customers and employees. Managing cloud services just like they do other processes and utilities will help in creating more value.
Businesses that prepare today to face the growing economic uncertainty will be able to use the cloud not just for outsourcing but to drive new business models. It would help them to maximize returns by reducing service creep, forming partnerships and finding value in what they have paid for.