What do small and medium-sized businesses look like most when they are evaluating a solution? Cost savings? Efficiency? Agility? Scalability? Increasingly, business and IT leaders are moving their workloads and data to cloud providers. Small and medium companies (SMEs and SMBs) must focus on these business goals when developing their technology platforms. Cloud computing provides organizations with a cost-effective, strategic way to meet their fast-evolving computing needs while supporting mobility needs.

However, many SMEs are apprehensive about the cloud. One of the reasons could be the assumption that investment in the cloud requires big budgets and special skill sets- something that small and medium businesses struggle with. SMEs can benefit from cloud computing. A cloud-based asset management software solution, along with cloud platforms in general, is design to be flexible, scalable, and scalable as your business grows.

Cloud computing is especially relevant for small and medium-sized businesses since these organizations experience more dramatic fluctuations and higher risks.

The cloud allows SMBs to scale their capacity base

on their current needs without having to predict what their future needs will be. Small and medium businesses can take advantage of the cloud to access a standardized, modern tech stack without having to invest in upfront resources and investments that larger organizations must make. As a result, you improve efficiency, reduce the burden on your existing lean teams, and save money. 

A fully managed, cloud-based asset management system makes storage, servers, and computing power readily available to customers on demand. The cloud offers several key benefits for businesses considering it, here are five more to consider.

Improve your bottom line:

There is a major benefit to moving applications and data to the cloud – cost savings. This is the primary driver for many organizations. SaaS allows you to operate on a tight budget while still enjoying maximum flexibility. Resources can be scaled up or down based on the business’s needs, and only what is being used is charged. You will not have to purchase, configure, maintain, or store new or additional hardware as your business needs more server space or additional data storage. You do not have to maintain and manage those systems on your own.

What could be a better win-win deal? Technology partners like Odessa can ensure that you can build and run world-class systems without having to worry one bit about refresh cycles or maintenance. By eliminating hardware purchases and maintenance, your growing business can save time, and money, and ensure its resources are fully utilized.

A playing field at level with the giants:

With the SaaS model, SMBs no longer must hold back due to budget constraints. As a result, SMBs can compete with large enterprises by using CRMs (customer relationship management), business management, cloud security, and analytics solutions. Using SaaS gives you a chance to pay only for what you use, as everything is priced.

There has been a shift towards subscription-based pricing in software companies over the past few years. SMBs can get more done with fewer resources thanks to a large ecosystem of cloud solution providers. As late adopters, SMBs have one advantage over big companies: they can avoid the mistakes made by early adopters.

Access to standard, world-class tech stack:

Every successful business today relies on powerful technology such as artificial intelligence, machine learning, big data analytics, etc. to serve its customers better. Small businesses may lack the financial resources or technical skills to implement such technology.

It is a completely different story, however, when it comes to SaaS solutions. To provide their customers with more value, SaaS providers continue to invest heavily in market innovations such as artificial intelligence, machine learning, etc. Your business stands to benefit automatically from using its technology as soon as you subscribe to cloud-based asset management software.

Simplify your software management:

A cloud-based application hosting solution eliminates a significant amount of management effort. Not long ago, your organization had to go through several steps to make the switch to a new software platform. To begin, you would need to purchase software and licenses. After that, you would need to purchase the hardware needed, install it, and deal with any data migration issues and security concerns. It was a major undertaking that, in many cases, would have to be repeated whenever the software required updates.

The cloud makes SaaS (Software as a Service) more accessible. Hosting applications in the cloud simplifies management. Your IT department does not have to worry about upgrades and updates since the cloud provider handles them. As a result, you will always have access to the latest software features. As well as ensure that an updated patch has been installed. While your team can focus on strategic and higher-level tasks.

Increase Your Ability to Innovate:

Your IT team is busy. As a result, innovating can be a challenge. Experimenting with new applications is not easy when your data centers are entirely in-house. It takes considerable time to configure, test, build, and roll out these resources, even if it is only on a provisional basis.

For example, if your organization wants to trial new software tools. It is easy to purchase the server and storage resources needed to run a pilot. The resources can be obtained quickly, and the software can be deploy in a much shorter period. If you decide the solution is not right for your growing business. It is easy to delete everything and scale your usage down accordingly. Agility is crucial in today’s technologically driven environment. Where your ability to identify opportunities and quickly respond to changes can be critical. The cloud gives your IT team the resources it needs to be smart, agile, and responsive to business priorities.

Increased mobility for your workforce:

In today’s business world, employees need to be productive on the go, so they need more than a laptop, tablet, and smartphone. Companies need to develop strategies to make critical data and applications available to mobile users as they grow.

With cloud computing, you can access applications, data, and connect to key systems. Whether your team is checking in from a business trip, doing work after hours, or handling an emergency, access is crucial. No matter where your customers, employees, or vendors work, with cloud-based asset management software. You can be confident that you have a strategy in place to ensure that they can access the information they need.

Meet Reliability and Uptime Targets:

The use of the cloud ensures that your applications and data are always accessible and online. Data and applications are mirrored at other data centers around the world. You can ensure that users with time zone differences or off-hours needs have access to your most important applications and data.

A good technological platform is crucial to delivering a great customer experience, employee productivity support. And a digital experience that today’s market demands. Businesses of all sizes are increasingly relying on the cloud to save money, innovate, and streamline their IT operations. Cloud infrastructure offers your business the ability to grow, scale, and evolve as it expands.

About Odessa

Headquartered in Philadelphia, USA, Odessa is a software company exclusively focus on the leasing industry. The Odessa Platform powers a diverse customer base globally, providing end-to-end, extensible solutions for lease and loan origination and portfolio management. Odessa facilitates business agility through rich feature sets including low-code development, test automation, and reporting. And business intelligence to ensure organizations can more effectively align business and IT objectives. 

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